Loida Cardenas recently established her own business, which she called Cardenas Delivery Service. During the first month of business in October 2014, the following transactions were completed: Oct. 1 Deposited P19,500 of personal savings in an account at the Tarlac Development Bank in the name of Cardenas Delivery Service. Acquired a second-hand service vehicle' costing P63,000, paying P7,000 in cash, and financing the remaining P56,000 by issuing a note payable. Paid rent for the month, P2,950. 2 4 Acquired supplies on account P8,200. Paid for three months' insurance and recorded prepaid insurance in the amount of P4,500. Received P13,900 cash for delivery work done for the Pascua Corporation. Acquired additional supplies for cash, P2,050. Paid salaries, P3,900. 10 13 Completed an assignment for Luisita Company and billed the company P15,250. Paid P2,300 of the amount owed from the Oct. 5 transaction. Paid miscellaneous expenses, P1,700. Withdrew cash from the business, P6,150. Collected P9,500 on account from Luisita Company. Paid salaries, P4,200. Paid utilities expense, P800. Billed the Cojuangco Company for.delivéry services rendered, 16 17 19 21 22 24 25 27 P13,400. 00
Loida Cardenas recently established her own business, which she called Cardenas Delivery Service. During the first month of business in October 2014, the following transactions were completed: Oct. 1 Deposited P19,500 of personal savings in an account at the Tarlac Development Bank in the name of Cardenas Delivery Service. Acquired a second-hand service vehicle' costing P63,000, paying P7,000 in cash, and financing the remaining P56,000 by issuing a note payable. Paid rent for the month, P2,950. 2 4 Acquired supplies on account P8,200. Paid for three months' insurance and recorded prepaid insurance in the amount of P4,500. Received P13,900 cash for delivery work done for the Pascua Corporation. Acquired additional supplies for cash, P2,050. Paid salaries, P3,900. 10 13 Completed an assignment for Luisita Company and billed the company P15,250. Paid P2,300 of the amount owed from the Oct. 5 transaction. Paid miscellaneous expenses, P1,700. Withdrew cash from the business, P6,150. Collected P9,500 on account from Luisita Company. Paid salaries, P4,200. Paid utilities expense, P800. Billed the Cojuangco Company for.delivéry services rendered, 16 17 19 21 22 24 25 27 P13,400. 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What is the journal entry and trial balance of the transactions?
Transcribed Image Text:Loida Cardenas recently established her own business, which she called Cardenas
Delivery Service. During the first month of business in October 2014, the following
transactions were completed:
Oct. 1
Deposited P19,500 of personal savings in an account at the Tarlac
Development Bank in the name of Cardenas Delivery Service.
Acquired a second-hand service vehicle costing P63,000, paying
P7,000 in cash, and financing the remaining P56,000 by issuing a
note payable.
Paid rent for the month, P2,950.
2
4
Acquired supplies on account P8,200.
Paid for three months' insurance and recorded prepaid insurance in
the amount of P4,500.
6
Received P13,900 cash for delivery work done for the Pascua
Corporation.
Acquired additional supplies for cash, P2,050.
Paid salaries, P3,900.
10
13
Completed an assignment for Luisita Company and billed the
company P15,250.
Paid P2,300 of the amount owed from the Oct. 5 transaction.
Paid miscellaneous expenses, P1,700.
Withdrew cash from the business, P6,150.
Collected P9,500 on account from Luisita Company.
Paid salaries, P4,200.
Paid utilities expense, P800.
Billed the Cojuangco Company for delivéry services rendered,
16
17
19
21
22
24
25
27
P13,400.
00
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