Journalize the following business transactions of Ms. Ella Beauty Salon 1. Ella invested 50,000 pesos in a beauty parlor Ms. Ella Beauty.Salon. 2. She also invested equipment worth 55,000 and supplies worth 10,000. 3. She paid in advance the rent of the salon for 3 months worth 10,000 per month. 4. Received 12000 for the service rendered to various customers. 5. Billed the customer for 4500 for rebonding the hair of the customer. 6. Received the electric bill worth 4000. 7. Paid the telephone bill 1600 8. Ms. Ella withdrew 20,000 for personal use. 9. Bought additional supplies worth 10,000 on account. 10. Received 15,000 from various customers for the service rendered. 11. Paid the salaries of the employees worth 15,000 12. Collected the bill from customers worth 4500. 13. Billed the customer worth 5,000 14. Paid 5000 for the additional supplies previously bought on account 15. Received 2500 from the customer for the service rendered. Prepare the following: 1. Journal Entry 2. Posting in T- Accounts 3. Trial Balance

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Journalize the following business transactions of Ms. Ella Beauty Salon and Post in T-Accounts
Journalize the following business transactions of Ms. Ella Beauty Salon
1. Ella invested 50,000 pesos in a beauty parlor Ms. Ella Beauty. Salon.
2. She also invested equipment worth 55,000 and supplies worth 10,000.
3. She paid in advance the rent of the salon for 3 months worth 10,000 per month.
4. Received 12000 for the service rendered to various customers.
5. Billed the customer for 4500 for rebonding the hair of the customer.
6. Received the electric bill worth 4000.
7. Paid the telephone bill 1600
8. Ms. Ella withdrew 20,000 for personal use.
9. Bought additional supplies worth 10,000 on account.
10. Received 15,000 from various customers for the service rendered.
11. Paid the salaries of the employees worth 15,000
12. Collected the bill from customers worth 4500.
13. Billed the customer worth 5,000
14. Paid 5000 for the additional supplies previously bought on account
15. Received 2500 from the customer for the service rendered.
Prepare the following:
1. Journal Entry
2. Posting in T- Accounts
3. Trial Balance
4. Income Statement
5. Balance sheet
6. Statement of Owner'sEquity
Transcribed Image Text:Journalize the following business transactions of Ms. Ella Beauty Salon 1. Ella invested 50,000 pesos in a beauty parlor Ms. Ella Beauty. Salon. 2. She also invested equipment worth 55,000 and supplies worth 10,000. 3. She paid in advance the rent of the salon for 3 months worth 10,000 per month. 4. Received 12000 for the service rendered to various customers. 5. Billed the customer for 4500 for rebonding the hair of the customer. 6. Received the electric bill worth 4000. 7. Paid the telephone bill 1600 8. Ms. Ella withdrew 20,000 for personal use. 9. Bought additional supplies worth 10,000 on account. 10. Received 15,000 from various customers for the service rendered. 11. Paid the salaries of the employees worth 15,000 12. Collected the bill from customers worth 4500. 13. Billed the customer worth 5,000 14. Paid 5000 for the additional supplies previously bought on account 15. Received 2500 from the customer for the service rendered. Prepare the following: 1. Journal Entry 2. Posting in T- Accounts 3. Trial Balance 4. Income Statement 5. Balance sheet 6. Statement of Owner'sEquity
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