On nov 1 Noman started his Repair service. Listed below are the transactions for the month of nov 2019. On nov 1 Invested Rs450,000 cash and equipment 50,000 with a building book value of Rs50,000 in new business On nov 2 Received Rs1,000 for Repair service On nov 5 Purchased Insurance poliey paid 3 months advance payment 6,000 On nov 13 Purchased equipment for Rs7,000, paying Rs2,000 cash and giving a note for remaining On nov 14 purchased office supplies 500 On nov 15 Paid telephone bill expenses Rs2,000 On nov 18 Withdrew Rs2,000 cash for personal use On nov 20 Purchased supplies for Rs3,000 on account On nov 21 Paid Rs 5,000 on outstanding note On nov 24 Withdrew supplies 500 for personal use On nov 27 Received Rs 3,250 for lawn care service Question -1 REQUIRED : A. GENERAL JOURNAL b. LEDGER POSTING C. TRIAL BALANCE

On nov 1 Noman started his Repair service. Listed below are the transactions for the month of nov 2019. On nov 1 Invested Rs450,000 cash and equipment 50,000 with a building book value of Rs50,000 in new business On nov 2 Received Rs1,000 for Repair service On nov 5 Purchased Insurance poliey paid 3 months advance payment 6,000 On nov 13 Purchased equipment for Rs7,000, paying Rs2,000 cash and giving a note for remaining On nov 14 purchased office supplies 500 On nov 15 Paid telephone bill expenses Rs2,000 On nov 18 Withdrew Rs2,000 cash for personal use On nov 20 Purchased supplies for Rs3,000 on account On nov 21 Paid Rs 5,000 on outstanding note On nov 24 Withdrew supplies 500 for personal use On nov 27 Received Rs 3,250 for lawn care service Question -1 REQUIRED : A. GENERAL JOURNAL b. LEDGER POSTING C. TRIAL BALANCE

Name: On nov 1 Noman started his Repair service. Listed below are the trans
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Description: On nov 1 Noman started his Repair service. Listed below are the transactions for the month of nov 2019.On nov 1 Invested Rs450,000 cash and equipment 50,000 with a building book value of Rs50,000 in newbusinessOn nov 2 Received Rs1,000 for Repair se

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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On June 15, 20 x 0 Mr. Gerald Green Gabriel, owner of Boracay Ocean Park Hotel, availed a business loan from Filipinas Bank in the amount of P1,000,000.00. Principal repayment shall be on June 15, 20x1. Interest shall be paid every 15th day of the month @ 10% per annum beginning July 15, 20x0. In the book of Filipinas Bank....
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