Provide an income statement and balance sheet for the month given the ff data: T1: Jason invested P300,000 cash as initial capital for his small business. T2: He paid P6,000 for the rent good for a month. T3: He bought P4,950 worth of shop supplies T4: He bought 4 desktop that costs P32,500 each T5: He bought 2 printers on account (credit terms) worth P10,000 each T6: He paid electric bill with an amount of P3,500 T7: By his computer services, he received P35,000 in cash T8: He paid 12,000 for the repairman's salary good for a month
Provide an income statement and balance sheet for the month given the ff data: T1: Jason invested P300,000 cash as initial capital for his small business. T2: He paid P6,000 for the rent good for a month. T3: He bought P4,950 worth of shop supplies T4: He bought 4 desktop that costs P32,500 each T5: He bought 2 printers on account (credit terms) worth P10,000 each T6: He paid electric bill with an amount of P3,500 T7: By his computer services, he received P35,000 in cash T8: He paid 12,000 for the repairman's salary good for a month
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Provide an income statement and
T1: Jason invested P300,000 cash as initial capital for his small business.
T2: He paid P6,000 for the rent good for a month.
T3: He bought P4,950 worth of shop supplies
T4: He bought 4 desktop that costs P32,500 each
T5: He bought 2 printers on account (credit terms) worth P10,000 each
T6: He paid electric bill with an amount of P3,500
T7: By his computer services, he received P35,000 in cash
T8: He paid 12,000 for the repairman's salary good for a month
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