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

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The following are the transactions of AH. Rahman Electronics for the month of November, 2020: Nov 1 Purchase of 15 laptops from Dhaka-based Gallup Computers Ltd. for Rs. 55,000. Debt discount 5%.Invoice No. 100. Carrying cost Rs. 1,500. Nov 20 Purchase of 6 refrigerators from Khan Electronics, Savar for Rs. 35,000. Invoice No. 101 Bargain discount 7%. Packing cost Rs.1000(A) What are the ancillary costs of the transaction? (B) Make Purchase Journal of AH Rahman Electronics.(C) Prepare general ledger on the basis of appropriate transactions.
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Please document any AJEs you do here. Show the calcs / reasoning and then input them into the next tab.
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I need help with questions 30 through 34 if possible
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.
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Please see below. I need to make sure that what I have included details 2 accrual and 2 deferral transactions correctly. Please let me know if I need to correct something.
Date Transaction description Obtained a loan of $41,000 from Earth Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2021 and the principal of the loan is to be repaid on June 1, 2024. Paid the full amount owing to Sport Borders, Check No. 603. Payment fell within discount period. Paid the full amount owing to J. J. Spud, Check No. 604. Payment fell within discount period. Made cash sales of $4,184 during the first 3 days of the month. 2 3 Purchased 6 Downhill Snowboards from Good Sports for $180 each, terms 2/10, n/30. Sold 6 Tony Eagle Mark 3 Freestyle Skateboards to Balls 'n All for $204 each, Invoice No. 501. Purchased 5 Freestyle Snowboards with cash for $170 each, Check No. 605. Purchased 5 Pipe Dream surfboards from Sports 'R Us for $150 each, terms net 30. 4 4. 7 After completing this practice set page, you should know how to record basic transactions in the journals provided below and understand the posting process in the…
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