Ms. Kelly established an enterprise to be known as L.A Designs, on June of the current year. During the month, she completed the following business transactions: (prepare trial balance for the following accounts) June 1 – Ms. Marikit deposited cash for the business, P500,000. 5 – Purchased supplies for cash, P25,000. 7 – Purchased equipment on account, P30,000. 9 – Purchased truck for P`150,000, paying P80,000 cash and issued a promissory note for the balance. 11 – Paid rent for the period of one month, P5,000. 13 – Received cash for job completed, P200,000. 14 – Purchased supplies on account, P40,000. 15 – Paid wages of workers, P60,000. 17 – Paid premium of property and casualty insurance, P2,000. 19 – Paid creditor for equipment purchased on June 7, P15,000. 20 – Recorded services to customers on account and sent invoices to customers, P250,000. June 21 – Received cash for job completed, P90,000. 24 – Received an invoice for truck repairs, P4,
Ms. Kelly established an enterprise to be known as L.A Designs, on June of the current year. During the month, she completed the following business transactions:
(prepare
June 1 – Ms. Marikit deposited cash for the business, P500,000.
5 – Purchased supplies for cash, P25,000.
7 – Purchased equipment on account, P30,000.
9 – Purchased truck for P`150,000, paying P80,000 cash and issued a promissory note for the balance.
11 – Paid rent for the period of one month, P5,000.
13 – Received cash for job completed, P200,000.
14 – Purchased supplies on account, P40,000.
15 – Paid wages of workers, P60,000.
17 – Paid premium of property and casualty insurance, P2,000.
19 – Paid creditor for equipment purchased on June 7, P15,000.
20 – Recorded services to customers on account and sent invoices to customers, P250,000.
June 21 – Received cash for job completed, P90,000.
24 – Received an invoice for truck repairs, P4,000.
25 – Paid utilities expense, P1,500.
27 – Paid miscellaneous expense, P500.
28 – Received cash from customer on account, P100,000.
30 – Paid wages of workers, P75,000.
30 – Withdraw cash for personal use, P20,000.
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