Mr. Sojo opened up a merchandising business on October 1 2019 with a cash investment of 50,000. The following activities were given: Mr. Sojo op e nedup a merchand ising businesson Oc to ber 1, 2019 withа cas hin vestment of P50 ,000.The follo w ing activities wer e given:Cash received fro m205,000.0 ocusto m ersCash borrow ed fro mthe ban k150,000.00Utilitie s, sala rie s, sup plies and ren tpaid115,000.0oCash paid to theban k50,000.00Cash purchase for equ ip ment100,000.00Cash purchase for furn itu re25,000.00Eq u ip m ent bou ght on credit150,000.0 0Ad d itio n al inv estm ent200,000.00withd raw al40,000.00Ad d itio n al info rm a tio n;1. Sup plies am ounted to 20% of the utilitie s, salaries, supp lie s and rent paid in tot al2. At the en d of the month, it was fou nd that of the sup p lies pa id, on ly 30% were used.RE QUIREMENT:1.Journal En tries2.Ledger3.Un a d ju ste d Tri al Bal anceAd ju sting En tries4.5.Ad ju sted Trial Bala nce6.State ment of Com prehensive IncomeState ment of Changes in Equit y7.8.State ment of Cash Flow s9.State m ent of Fin anciaI Positio n

Name: Mr. Sojo opened up a merchandising business on October 1 2019 with a c
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Description: Mr. Sojo opened up a merchandising business on October 1 2019 with a cash investment of 50,000. The following activities were given: Mr. Sojo op e nedup a merchand ising businesson Oc to ber 1, 2019 withа cas hin vestment of P50 ,000.The follo w ing

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Answered: Journal En tries 1. 2. Ledger 3. Un ad…

Business

Accounting

Journal En tries 1. 2. Ledger 3. Un ad ju ste d Tri al Bal a nce

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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