Please provide journal entries for the following: 1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business. 2. Paid office rent for the month, P36,000. 3. Acquired computer equipment for cash, P700,000. 4. Purchased computer supplies on credit, P60,000. 5. Received payment from a client for programing done, P280,000. 6. Billed a client on completion of a programming project, P71,000. 7. Paid salaries, P80,000. 8. Received a partial payment from the client billed, P61,000. 9. Withdrew P25,000 for personal expenses. 10. Made partial payment on the supplies purchased, P30,000
Please provide journal entries for the following: 1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business. 2. Paid office rent for the month, P36,000. 3. Acquired computer equipment for cash, P700,000. 4. Purchased computer supplies on credit, P60,000. 5. Received payment from a client for programing done, P280,000. 6. Billed a client on completion of a programming project, P71,000. 7. Paid salaries, P80,000. 8. Received a partial payment from the client billed, P61,000. 9. Withdrew P25,000 for personal expenses. 10. Made partial payment on the supplies purchased, P30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please provide
1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business.
2. Paid office rent for the month, P36,000.
3. Acquired computer equipment for cash, P700,000.
4. Purchased computer supplies on credit, P60,000.
5. Received payment from a client for programing done, P280,000.
6. Billed a client on completion of a programming project, P71,000.
7. Paid salaries, P80,000.
8. Received a partial payment from the client billed, P61,000.
9. Withdrew P25,000 for personal expenses.
10. Made partial payment on the supplies purchased, P30,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education