NTIFYING THE ACCOUNT TITLES ctions: Identify the account titles present in the Transactions 1. Purchased store equipment for cash 2. Purchased store equipment on credit 3. Borrowed money from the bank 4. Paid the salary of the store helper 5. Paid the rent of the office space 6. Bought repair supplies for cash 7. Bought repair equipment on credit 8. Billed E. Manzano for repair services done on his automobile 9. Received cash from various customers for repairs done on their automobiles 10, Received cash for the full payment from Mr. E. Manzano. anda, Atis, Del Rosario (2002). Accountin

NTIFYING THE ACCOUNT TITLES ctions: Identify the account titles present in the Transactions 1. Purchased store equipment for cash 2. Purchased store equipment on credit 3. Borrowed money from the bank 4. Paid the salary of the store helper 5. Paid the rent of the office space 6. Bought repair supplies for cash 7. Bought repair equipment on credit 8. Billed E. Manzano for repair services done on his automobile 9. Received cash from various customers for repairs done on their automobiles 10, Received cash for the full payment from Mr. E. Manzano. anda, Atis, Del Rosario (2002). Accountin

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Description: =IDENTIFYING THE ACCOUNT TITLESDirections: Identify the account titles present in the following transactions. Refer to the given examples.TransactionsINCOMEEXPENSEValueReceivedValue PartedASSETLIABILITYCAPITALWith1. Purchased store equipment for cas

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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1.Journalize and post transactions on account to the cash payments j ournal 2.Complete the petty cash report by classifying each expense to compute the actual cash on hand. 3.Print the cash paymentsjournal and petty cash report. The cash paymentsjournal and a petty cash report for Electronic Source are given in the Worlting Papers. Instructions: Use page 9 of a cash payments journa l tojourna lize the following transactions completed during September of the cun-ent year.Source documents are abbreviated as follows check,C;purchase invoice,P.Save your work to complete Problem 9-S. Transactions: Sept 2.Paid cash for advertising, $125.00.C388. 5.Paid cash on account to Henson Audio, $2,489.00, covering P346,less 2% discount. C389. 8.Paid cash for heating bill, $240.00.C390 . 10.Paid cash on account to Peterson Electronics,$3,484.00 covering P349,less 2% discount.C391. 12.Paid cash for office supplies,$43.00.C392$. 15.Paid cash to KLP Mfg.for merchandise with a list…