Required: should follow the format DATEPARTICULARSP/RDRDATEPARTICULARSP/RCR2020 March 10BeginningGJ-1 P 35 0o002020 MarchBeginning|7500BALANCEFormat for LEDGER Practice Set 1Mr. Joshua A. opened his laundry business in Cavite City on January 2, 2016.The following transactions occurred during the month of January 2016:Please prepare the following reports:1.General Journal2.General LedgerDateTransactions1/2/16Invested PHP500,000 to his business. The trade name of the business was "MR. LABADERO"1/3/16Hired Allan and Allie who will manage his business1/4/16Collections from various customers for the day - PHP3,0001/5/16Purchase store supplies from Labada Store - PHP10,0001/7/16Collections from various customers for the day - PHP8,0001/8/16MR. LABADERO entered into an exclusive contract with Sikat Hotel where the business will do all the laundry of the hotel.1/9/16Sikat Hotel availed the services of MR. LABADERO amounting to PHP15,000. Payment will be made on January 20, 2016.1/10/16Collections from various customers for the day - PHP12,0001/12/16Purchase a washing machine amounting to PHP50,0001/15/16Collections from various customers for the day - PHP20,0001/19/16Paid electricity bill for the month amounting to PHP18,0001/20/16Received payment from Sikat Hotel amounting to PHP15,0001/21/16Paid salaries of Allan and Allie - PHP15,0001/22/16Mr. Joshua A. needed money for the hospitalization of his son. He withdrew PHP18,000 from the business1/25/16Paid airfare ticket of PHP1,500 for the travel of Mr. Joshua A. to Palawan to negotiate a contract with Sosyal Hote1/26/16Paid taxes to the City of Cavite, PHP4,0001/27/16Purchased office supplies amounting to PHP12,5001/28/16Collections from various customer for the day - PHP5,0001/29/16Sosyal Hotel availed the services of MR. LABADERO amounting to PHP15,000 payable on Feb 25, 2016.

General Ledger is the ledger in which the accounts of the transactions which are involved are…

Answered: Please prepare the following reports:…

Business

Accounting

Please prepare the following reports: 1.General Journal 2.General Ledger

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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Question

Required: should follow the format

DATE
PARTICULARS
P/R
DR
DATE
PARTICULARS
P/R
CR
2020 March 10
Beginning
GJ-1 P 35 0o00
2020 March
Beginning
|7500
BALANCE
Format for LEDGER

Practice Set 1
Mr. Joshua A. opened his laundry business in Cavite City on January 2, 2016.
The following transactions occurred during the month of January 2016:
Please prepare the following reports:
1.General Journal
2.General Ledger
Date
Transactions
1/2/16
Invested PHP500,000 to his business. The trade name of the business was "MR. LABADERO"
1/3/16
Hired Allan and Allie who will manage his business
1/4/16
Collections from various customers for the day - PHP3,000
1/5/16
Purchase store supplies from Labada Store - PHP10,000
1/7/16
Collections from various customers for the day - PHP8,000
1/8/16
MR. LABADERO entered into an exclusive contract with Sikat Hotel where the business will do all the laundry of the hotel.
1/9/16
Sikat Hotel availed the services of MR. LABADERO amounting to PHP15,000. Payment will be made on January 20, 2016.
1/10/16
Collections from various customers for the day - PHP12,000
1/12/16
Purchase a washing machine amounting to PHP50,000
1/15/16
Collections from various customers for the day - PHP20,000
1/19/16
Paid electricity bill for the month amounting to PHP18,000
1/20/16
Received payment from Sikat Hotel amounting to PHP15,000
1/21/16
Paid salaries of Allan and Allie - PHP15,000
1/22/16
Mr. Joshua A. needed money for the hospitalization of his son. He withdrew PHP18,000 from the business
1/25/16
Paid airfare ticket of PHP1,500 for the travel of Mr. Joshua A. to Palawan to negotiate a contract with Sosyal Hote
1/26/16
Paid taxes to the City of Cavite, PHP4,000
1/27/16
Purchased office supplies amounting to PHP12,500
1/28/16
Collections from various customer for the day - PHP5,000
1/29/16
Sosyal Hotel availed the services of MR. LABADERO amounting to PHP15,000 payable on Feb 25, 2016.

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