NAME: SECTION: SCORE: PROFESSOR: Problem 19 Service. During the first month of business in October 2001, the following transactions were completed. Myna Mallari recently established her own business, which she called Mallari Delivery Oct. 1 Development Bank in the name of Mallari Delivery Service. Acquired a second-hand service vehicle costing P63,000, paying 2 Deposited P19,500 of personal savings in an account at the Tarlac P7,000 in cash, and financing the remaining P56,000 by issuing a note payable. Paid rent for the month, P2,950. Acquired supplies on account P8,200. 5 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. 10 Acquired additional supplies for cash, P2,050. 13 Paid salaries, P3,900. 16 Completed an assignment for Luisita Company and billed the company PIS,250. 17 Paid P2,300 of the amount owed from the Oct. 5 transaction. 19 Paid miscellaneous expenses, P1,700. 21 Withdrew cash from the business, P6,150. 22 Collected P9,500 on account from Luisita Company. Paid salaries, P4,200. Paid utilities expense, P800. Billed the Cojuangco Company for delivery services rendered, P13,400. 24 25 27 Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Service Vehicle; Notes Payable; Accounts Payable; Mallari, Capital; Mallari, Withdrawals; Delivery Revenues; Salaries Expense; Rent Expense; Utilities Expense; and Miscellancous Expense. 2. Record the transactions directly into the T-accounts, using the dates of the transactions to identify cach transacțion. 3. Prepare a trial balance.
NAME: SECTION: SCORE: PROFESSOR: Problem 19 Service. During the first month of business in October 2001, the following transactions were completed. Myna Mallari recently established her own business, which she called Mallari Delivery Oct. 1 Development Bank in the name of Mallari Delivery Service. Acquired a second-hand service vehicle costing P63,000, paying 2 Deposited P19,500 of personal savings in an account at the Tarlac P7,000 in cash, and financing the remaining P56,000 by issuing a note payable. Paid rent for the month, P2,950. Acquired supplies on account P8,200. 5 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. 10 Acquired additional supplies for cash, P2,050. 13 Paid salaries, P3,900. 16 Completed an assignment for Luisita Company and billed the company PIS,250. 17 Paid P2,300 of the amount owed from the Oct. 5 transaction. 19 Paid miscellaneous expenses, P1,700. 21 Withdrew cash from the business, P6,150. 22 Collected P9,500 on account from Luisita Company. Paid salaries, P4,200. Paid utilities expense, P800. Billed the Cojuangco Company for delivery services rendered, P13,400. 24 25 27 Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Service Vehicle; Notes Payable; Accounts Payable; Mallari, Capital; Mallari, Withdrawals; Delivery Revenues; Salaries Expense; Rent Expense; Utilities Expense; and Miscellancous Expense. 2. Record the transactions directly into the T-accounts, using the dates of the transactions to identify cach transacțion. 3. Prepare a trial balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:BS AgriBusiness - 1A
NAME:
SECTION:
SCORE:
PROFESSOR:
Problem #9
Recording Transactions in T-Accounts and Preparing a Trial Balance
Service. During the first month of business in October 2001, the following transactions
were completed.
Myma Mallari recently established her own business, which she called Mallari Delivery
Deposited P19,500 of personal savings in an account at the Tarlac
Development Bank in the name of Mallari 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.
4
Oct. 1
Paid rent for the month, P2,950.
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.
Completed
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 delivery services rendered,
P13,400.
5
10
13
16
assignment for Luisita Company and billed the
17
19
21
22
24
25
27
Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Supplies; Prepaid
Insurance; Service Vehicle; Notes Payable; Accounts Payable; Mallari, Capital;
Mallari, Withdrawals; Delivery Revenues; Salaries Expense; Rent Expense; Utilities
Expense; and Miscellancous Expense.
2 Record the transactions directly into the T-accounts, using the dates of the
transactions to identify cach transacțion.
3. Prepare a trial balance.
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