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Accounting
Make a Ledger

Make a Ledger

FINANCIAL ACCOUNTING
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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Make a Ledger
Jan. 1 Leira Wellness Center was a sole proprietorship-service business established by Ms. Leira, with an initial capital of P200,000. 2. A rental agreement for the wellness center location for 1 year was signed and paid for P120,000 5 Ms. Leira bought chairs for P50,000 mirrors for P30,000 a cash register for P10,000, all on credit 10 Supplies was purchased on credit worth P 150,000. 15 Linen supplies amounting to p20,000 was bought on cash 17 Service Income made during the 1st month amounts to P75,000 on cash and P55,000 on credit 20 Beauty supplies used amounts to P95,000 22 Electric and water invoice of P12,000 was receied but not paid 23 Telephone bills of P1750 was paid 25 Salaries paid to helpers amounted to P 9950 28 Ms. Leira paid P50,000 on the credit made for the purchase of chairs/mirrors and cash register and another P30,000 payment on the beauty supplies 31. An emergency arises and Ms. Leira took P15,000 from the business without any intention of returning the money back.
Transcribed Image Text:Jan. 1 Leira Wellness Center was a sole proprietorship-service business established by Ms. Leira, with an initial capital of P200,000. 2. A rental agreement for the wellness center location for 1 year was signed and paid for P120,000 5 Ms. Leira bought chairs for P50,000 mirrors for P30,000 a cash register for P10,000, all on credit 10 Supplies was purchased on credit worth P 150,000. 15 Linen supplies amounting to p20,000 was bought on cash 17 Service Income made during the 1st month amounts to P75,000 on cash and P55,000 on credit 20 Beauty supplies used amounts to P95,000 22 Electric and water invoice of P12,000 was receied but not paid 23 Telephone bills of P1750 was paid 25 Salaries paid to helpers amounted to P 9950 28 Ms. Leira paid P50,000 on the credit made for the purchase of chairs/mirrors and cash register and another P30,000 payment on the beauty supplies 31. An emergency arises and Ms. Leira took P15,000 from the business without any intention of returning the money back.
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