Recording Transactions in a Financial Transaction WorksheetStephanie Calamba is the owner of the Calamba Repairs Specialist. On Jan. 1, 2019, theassets, liabilities and proprietor's capital of the business were: Cash, P25,000; AccountsReceivable, P4,000; Supplies, PS,000; Equipment, P60,0003; Accounts Payable, P9,000;Calamba, Capital, P85,000. The transactions for the month of January were as follows:AccountsReceivableAccountsCalamba,CapitalCashSupplies* EquipmentPayableJan. 1BalanceP25,000P4,000P60,000+]PS,000P9,000+]P85,000a.b.C.h.Paid P3,000 of the outstanding accounts payable.Received P1,000 on account (part payment) from customers.Purchased P2,500 worth of supplies on account (on credit).Returned a defective piece of equipment that was purchased last month andreceived a cash refund of P12,000.Borrowed P10,000 from a supplier, to repay the loan in 30 days.Paid creditor P2,000 on account (part payment).Purchased equipment for P10,000, giving P2,000 cash and promising to pay thebalance in 60 days.a.b.с.d.e.f.g.h. Bought supplies, paying P1,650 cash.i.Received a P2,500 check from customer on account.

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Description: Recording Transactions in a Financial Transaction WorksheetStephanie Calamba is the owner of the Calamba Repairs Specialist. On Jan. 1, 2019, theassets, liabilities and proprietor's capital of the business were: Cash, P25,000; AccountsReceivable, P4

Accounting Equation in accounting means after every transaction, total of assets should be equal to…

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Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Repairs Specialist. On Jan. 1, 2019, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; Accounts Receivable, P4,000; Supplies, PS,000; Equipment, P60,000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Accounts Accounts Calamba, Capital Cash Receivable Supplies Equipment +] Payable Jan. 1 Balance P25,000 P4,000 PS,000 P60,000 P9,000 +] P85,000 d. f. h. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). Returned a defective piece of equipment that was purchased last month and received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. f. Paid creditor P2,000 on account (part payment). Purchased equipment for P10,000, giving P2,000 cash and promising to pay the a. b. C. d. e. 8. balance in 60 days. h. Bought supplies, paying P1,650 cash. Received a P2,500 check from customer on account.

Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Repairs Specialist. On Jan. 1, 2019, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; Accounts Receivable, P4,000; Supplies, PS,000; Equipment, P60,000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Accounts Accounts Calamba, Capital Cash Receivable Supplies Equipment +] Payable Jan. 1 Balance P25,000 P4,000 PS,000 P60,000 P9,000 +] P85,000 d. f. h. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). Returned a defective piece of equipment that was purchased last month and received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. f. Paid creditor P2,000 on account (part payment). Purchased equipment for P10,000, giving P2,000 cash and promising to pay the a. b. C. d. e. 8. balance in 60 days. h. Bought supplies, paying P1,650 cash. Received a P2,500 check from customer on account.

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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