Invested in the business painting equipment valued at P12,300 and Winnie Villanueva is a painting contractor. During the month of April, she completed the following transactions: Apr. 2 placed P71,000 in a business checking account. Acquired a service vehicle costing P80,000. Paid P50,000 cash and signed a note for the balance. 4 Purchased painting supplies on account for P3,200. Completed a painting job and billed the customer P4,800.
Invested in the business painting equipment valued at P12,300 and Winnie Villanueva is a painting contractor. During the month of April, she completed the following transactions: Apr. 2 placed P71,000 in a business checking account. Acquired a service vehicle costing P80,000. Paid P50,000 cash and signed a note for the balance. 4 Purchased painting supplies on account for P3,200. Completed a painting job and billed the customer P4,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Winnie Villanueva is a painting contractor. During the month of April, she completed
the following transactions:
Apr. 2
Invested in the business painting equipment valued at P12,300 and
placed P71,000 in a business checking account.
Acquired a service vehicle costing P80.000. Paid P50,000 cash and
signed a note for the balance.
4
Purchased painting supplies on account for P3,200.
Completed a painting job and billed the customer P4,800.
Received P1,500 cash for painting an apartment room.
Purchased painting supplies for P1,600 cash.
Received a P4,800 check from the customer billed on April 5.
Paid P4,000 for an insurance policy for a one-year coverage.
Billed a customer P6,200 for a painting job.
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11
12
13
Paid the assistant P1,500 for twenty-five hours' work.
Paid P400 for a tune-up of the service vehicle.
Paid for the painting supplies purchased on April 4.
Purchased a new ladder for P6,000 and painting supplies for P2,900,
on account.
14
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20
Received a telephone bill for P600, due next month.
Received P3,300 in cash from the customer billed on April 13.
Transferred P3,000 to a personal checking account.
Received P3,600 in cash for painting a two-room apartment.
Paid P2,000 on the note signed for the service vehicle.
Paid the assistant P1,800 for thirty hours' work.
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3.
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