Jan. 2 Deposited P500,000 in the company's account. 4. Purchased supplies, P10,000 for cash 5. Purchased office equipment on account, P40,000 8. Paid 1 year insurance< P12,000. 10.Purchased goods for cash, P 30,000 13.Purchased goods on account, P50,000, terms 3/10, n/30. 14. Sold merchandise on account, P40,000, terms 2/10,n/30 15 Paid salaries, P15,000 16 Paid taxes, P2,000 18. Sold merchandise for cash, P30,000 19. Paid rent for the month, P15,000 20. Returned P2,000 worth of merchandise purchase on account 21Paid creditor on account purchased on Jan. 13. 22. Received cash from customers on account. 25. Purchased goods for cash, P5,000 26. Sold merchandise on account, P30,000, 2/10,n/20 29. Sold merchandise for cash, P10,000
Jan. 2 Deposited P500,000 in the company's account. 4. Purchased supplies, P10,000 for cash 5. Purchased office equipment on account, P40,000 8. Paid 1 year insurance< P12,000. 10.Purchased goods for cash, P 30,000 13.Purchased goods on account, P50,000, terms 3/10, n/30. 14. Sold merchandise on account, P40,000, terms 2/10,n/30 15 Paid salaries, P15,000 16 Paid taxes, P2,000 18. Sold merchandise for cash, P30,000 19. Paid rent for the month, P15,000 20. Returned P2,000 worth of merchandise purchase on account 21Paid creditor on account purchased on Jan. 13. 22. Received cash from customers on account. 25. Purchased goods for cash, P5,000 26. Sold merchandise on account, P30,000, 2/10,n/20 29. Sold merchandise for cash, P10,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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prepare T- Accounts
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