Jan 1Bought new machineries worth P80,000 in account.Jan 5Purchased P50,000 worth of computer parts inventory, paying P20,000cash the balance in account.Jan 9Paid P5,000 cash for interest from a bank loan.Jan 17Sold twd machineries for a total of P9,000 in cash.Jan 19Sold P20,000 worth of computer parts for P35,000 in cash.Jan 25Purchased new machinery for P10.000 in account.Jan 29Scid P10,000 worth of computer parts for P20.000 in account.DateDescriptionDebitCreditHow much is the balance of her accounts payable?How much is her total sales for January?iow much interest did she pay?How much is the balance of her accounts receivable?How much is the balance of her nachinerv account? After working as a bookkeeper for Mae's RTW business, she refers you to anotherclient and her good friend, Crystal. She owns a gadgets shop and needs your help tokeep her company books updated.Here are the January transactions for her business:

A journal entry is a form of accounting entry that is used to report a business transaction in a…

Jan 1 Bought new machineries worth P80.000 in account. Jan 3 Purchased P50,000 worth of computer parts inventory, paying P2 cash the balance in account. Jan 9 Paid P5,000 cash for interest from a bank loan. Jan 17 Sold two machineries for a total of P9,000 in cash. Jan 19 Sold P20,000 worth of computer parts for P35,000 in cash. Jan 25 Purchased new machinery for P10.000 in account. Jan 29 Scid P10.000 werth of computer parts for P20.000 in account. Date Description Debit Crec low much is the balance of her accounts payable? How much is her total sales for January? iow much interest did she pay? How much is the balance of her accounts receivable? Eow much is the balance of her inachinerv account?

Jan 1 Bought new machineries worth P80.000 in account. Jan 3 Purchased P50,000 worth of computer parts inventory, paying P2 cash the balance in account. Jan 9 Paid P5,000 cash for interest from a bank loan. Jan 17 Sold two machineries for a total of P9,000 in cash. Jan 19 Sold P20,000 worth of computer parts for P35,000 in cash. Jan 25 Purchased new machinery for P10.000 in account. Jan 29 Scid P10.000 werth of computer parts for P20.000 in account. Date Description Debit Crec low much is the balance of her accounts payable? How much is her total sales for January? iow much interest did she pay? How much is the balance of her accounts receivable? Eow much is the balance of her inachinerv account?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Dec. 2 Paid $1,060 cash to Northview Mall for Security First’ share of mall advertising costs. Dec. 3 Paid $520 cash for minor repairs to the company’s computer. Dec. 4 Received $6,900 cash from Brady Engineering Co. for the receivable from November. Dec. 10 Paid cash to Zahara Hughes for six days of work at the rate of $160 per day. Dec. 14 Notified by Brady Engineering Co. that Security First’ bid of $7,100 on a proposed project has been accepted. Brady paid a $1,550 cash advance to Security First. Dec. 15 Purchased $2,250 of computer supplies on credit from Arnold Office Products. Dec. 16 Sent a reminder to Jackson Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Masters Corporation and received $7,900 cash. Dec. 22-26 Took the week off for the holidays. Dec. 28 Received $4,400 cash from Jackson Co. on its receivable. Dec. 29 Reimbursed K. Hughes for business automobile mileage…
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