Problem illustration: Assume that the following are the transactions of Cardo Tailoring Shop for the Month of January 2021: Mr. Cardo made the following investment: P B0,000 20,000 January 1 Cash Sewing Machine Purchased furniture for cash, P10,000. Purchased supplies for cash, P3,000. Paid the January 2021 rent,P2,000. Acquired additional equipment (two sewing machine at P15,000 each).Terms: P10,000 Down, the balance of six monthly installment. paid the semi-monthly payroll,P2,000 which include ( SSS premium Payable of P 66, Medicare P12.00, Withholding taxes payable P14.00,respectively.) Received cash for services rendered,p15,000. Sent a bill to customer amounting to P5,000, Received a note from a customer for services rendered,P5,000. Purchased supplies for cash,P500. Paid salaries for two weeks,P2,000 (pls refer to Problem January 15 for inclusions.) Mr. Cardo withdrew cash for personal use,P500. 5. 7. 15 15 20 22 27 31 31 Required: Prepare the following: 1. Journal Entries (You may use a 2-column columnar pad or you may use excel) 2. Post it to the General Ledger (you may.create your own ledger following the standard) 3. Trial Balance en un 7 8o

Problem illustration: Assume that the following are the transactions of Cardo Tailoring Shop for the Month of January 2021: Mr. Cardo made the following investment: P B0,000 20,000 January 1 Cash Sewing Machine Purchased furniture for cash, P10,000. Purchased supplies for cash, P3,000. Paid the January 2021 rent,P2,000. Acquired additional equipment (two sewing machine at P15,000 each).Terms: P10,000 Down, the balance of six monthly installment. paid the semi-monthly payroll,P2,000 which include ( SSS premium Payable of P 66, Medicare P12.00, Withholding taxes payable P14.00,respectively.) Received cash for services rendered,p15,000. Sent a bill to customer amounting to P5,000, Received a note from a customer for services rendered,P5,000. Purchased supplies for cash,P500. Paid salaries for two weeks,P2,000 (pls refer to Problem January 15 for inclusions.) Mr. Cardo withdrew cash for personal use,P500. 5. 7. 15 15 20 22 27 31 31 Required: Prepare the following: 1. Journal Entries (You may use a 2-column columnar pad or you may use excel) 2. Post it to the General Ledger (you may.create your own ledger following the standard) 3. Trial Balance en un 7 8o

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Hi, I need help assembling the following journal entries. Thank you.
Typed plz and Asap thanks
Saturday, August 15, 2026 Received a bill from Atlas Planning, 2026-1, for some layout designs for remodeling the back room and adding a bigger event space; for $150; due in 15 days ( account/category: Legal and professional fees). Daily sales today were 3 Fresh Flower Bouquets and 3 Birthday Vases paid by debit card and 3 more Fresh Flower Bouquets paid by cash. Mail off cheque 10027 to pay the Chamber of Commerce dues. Placed promotions (account hint) online with Easy Media Design for upcoming Wreath Workshop; 1-week coverage for $295, paid by Visa. A fresh flower bouquet delivery was late; Lynda Higgs is given a refund back to her credit card from the Undeposited Funds account. Make the bank deposit into the TD Operating account for the week's sales in cash and cheques; the deposit should be for $1,440.75. Transfer $633.14 from the Operating account to TD VISA to pay off the balance owing for July 2026. Post the monthly recurring loan payment transfer for August. Create a Report…
please help thanks
Please document any AJEs you do here. Show the calcs / reasoning and then input them into the next tab.
Please provide correct answer
Payment Calculator Property Location Fullerton Payments per year 12 Property Cost $750,000 Total Payments 360 Down Payment $75,000 Interest (APR) 4.00% Loan Amount $675,000 Payment (per month) Period (Years) 30 Pleasae use the formula PMT to determine the payment per month.
Question 4: Jerry's Concrete allows his customers to create six-month promissory notes on any stamped concrete driveway project with interest at 8.9%. Three months after completing a $17,300 job on February 2, 2022, Jerry had some liquidity problems and sold the promissory note to a financial institution at a simple interest rate of 10.35%. Calculate Jerry's proceeds on the sale
A fabric factory bought new equipment. The cash price of the equipment is $ 28,000, putting down $5,600 and financing the remainder with 20 monthly payments of $1250 each. Find the APR by table lookup
A consumer purchase new furniture by borrowing $1,500 using the stores credit plan which charges 18% compounded monthly. What are the monthly payments if the loan is to be repaid in 3-years? $22.50 $45.48 $54.23 $90.52
Al Ree bought a new delivery truck for $18,000. Al put a down payment of $4,000 and paid $270 monthly for 60 months. The total finance charge: O a. $4,000 O b. $2,200 Oc. $2,020 O d. $2,000 Show A hInformative Top....docx MacBook Air EB
The owner of a bicycle repair shop forecasts revenues of $196,000 a year. Variable costs will be $59.000, and rental costs for the shop are $39.000 a year. Depreciation on the repair tools will be $19.000. a. Prepare an income statement for the shop based on these estimates. The tax rate is 20% Calculate the operating cash flow for the repair shop using the three methods given below Now calculate the operating cash flow 1. Dollars in minus dollars out 2. Adjusted accounting profits, in 3.Add back depreciation tax shield