Journalize the following transactions of Till A Lok Consultancy for the month of January: 2018 Jan. 1 2 3 Mr. Lok deposited P880,000 in the account of the company. He also invested a computer valued at P67,000. Consultancy services rendered to Mongolia Corp. on account, P75,000 Bought 700,000 worth of transportation equipment from Mitsubishi on account 7 Consultancy services rendered to various clients for cash, P190,000 15 Consultancy services rendered to Codak Co. on account, $32,000 16 Paid Mitsubishi Motors in full 18 Collected P15,000 from Codak Co. 20 Received water bill, P 980 26 Paid electricity for the month, P2,540
Journalize the following transactions of Till A Lok Consultancy for the month of January: 2018 Jan. 1 2 3 Mr. Lok deposited P880,000 in the account of the company. He also invested a computer valued at P67,000. Consultancy services rendered to Mongolia Corp. on account, P75,000 Bought 700,000 worth of transportation equipment from Mitsubishi on account 7 Consultancy services rendered to various clients for cash, P190,000 15 Consultancy services rendered to Codak Co. on account, $32,000 16 Paid Mitsubishi Motors in full 18 Collected P15,000 from Codak Co. 20 Received water bill, P 980 26 Paid electricity for the month, P2,540
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalize the transactions
Transcribed Image Text:Journalize the following transactions of Till A Lok Consultancy for the month
of January:
2018
Jan. 1
2
3
7 Consultancy services rendered to various clients for cash, P190,000
15
Consultancy services rendered to Codak Co. on account, 32,000
16
Paid Mitsubishi Motors in full
18
Collected P15,000 from Codak Co.
Received water bill, P 980
Paid electricity for the month, P2,540
20
Mr. Lok deposited 880,000 in the account of the company. He also invested a
computer valued at P67.000.
Consultancy services rendered to Mongolia Corp. on account, P75,000
Bought 700,000 worth of transportation equipment from Mitsubishi on
account
26
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