Mr. Clown opened Jolly Party Services business. Presented below are his transactions for the month of December 2019. Dec 3 Mr. Clown invested P180, 000 in the business. He also invested a van valued at P380, 000. 7 Bought party supplies from Happy Co. on account, P21, 000. 8 Purchased furnture from Merry merchandising for cash, P14, 000. 14 Paid the supplies from Happy Co. in fll. 16 Mr. Clown withdrew P10, 000 for personal use. 26 Paid utities for the month, P2, 000. 30 Rendered party services for cash P30, 000 Required: 1. Record the above transaction of Jolly Party Services in a 2-column worksheet. 2. Post the journal entries in a ledaer. For your ledger you may use a 2-column worksheet and construct a ledger in it. (! 3. Prepare the trial balance of the business. (use a 2-column worksheet) (
Mr. Clown opened Jolly Party Services business. Presented below are his transactions for the month of December 2019. Dec 3 Mr. Clown invested P180, 000 in the business. He also invested a van valued at P380, 000. 7 Bought party supplies from Happy Co. on account, P21, 000. 8 Purchased furnture from Merry merchandising for cash, P14, 000. 14 Paid the supplies from Happy Co. in fll. 16 Mr. Clown withdrew P10, 000 for personal use. 26 Paid utities for the month, P2, 000. 30 Rendered party services for cash P30, 000 Required: 1. Record the above transaction of Jolly Party Services in a 2-column worksheet. 2. Post the journal entries in a ledaer. For your ledger you may use a 2-column worksheet and construct a ledger in it. (! 3. Prepare the trial balance of the business. (use a 2-column worksheet) (
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Do it nicely. Make it transferrable to excel. Do not capture as image. Follow the instructions carefully.
Transcribed Image Text:Mr. Clown opened Jolly Party Services business. Presented below are his transactions for the month of
December 2019.
Dec 3 Mr. Clown invested P180, 000 in the business. He also invested a van valued at
P380, 000.
7 Bought party supplies from Happy Co. on account, P21, 000.
8 Purchased furniture from Merry merchandising for cash, P14, 000.
14 Paid the supplies from Happy Co. in fll.
16 Mr. Clown withdrew P10, 000 for personal use.
26 Paid utilities fr the month, P2, 000.
30 Rendered party services for cash P30, 000
Required:
1. Record the above transaction of Jolly Party Services in a 2-column worksheet.
2. Post the journal entries in a ledaer. For your ledger you may use a 2-column worksheet and
construct a ledger in it. (
3. Prepare the trial balance of the business. (use a 2-column worksheet) (
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