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Remy opened her Tours4Fun business. During the first month, January, she c Began business by investing cash of P300,000 a office equipment a.

Remy opened her Tours4Fun business. During the first month, January, she c Began business by investing cash of P300,000 a office equipment a.

FINANCIAL ACCOUNTING
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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first image containsthe general information. please answer number 1-3 only thank you

Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCE Remy opened her Tours4Fun business. During the first month, January, she completed the following transactions: Began business by investing cash of P300,000 a office equipment valued at P40,000, shop furniture worth P 65,000. Paid rent for the month, P20,000. Bought additional office equipment from Kapamilya Store on credit, P25,000. a. b. C. Bought shop supplies for cash P8,000. Received P20,000 from Sally for passporting services rendered. Purchased another office equipment for cash for P18,000. Completed work for Novy on credit, at P38,000. Paid telephone and internet services worth P5,200. Paid Kapamilya store in full. Recelved cash from customers for services rendered worth P24,000. Received P18,000 from Novy as partial payment of the amount she owes the Tours4Fun. Paid the salary of the office staff, P15,000. Bought another shop furniture worth P10,000 on credit. Miscellaneous expenses paid during the month were paid worth P27,000. d. e. f. 8. h. 1. J. k. 1. m. n. Using the following Account Titles, answer the questions found in the attached google forms. ACCOUNT TITLES: Cash Accounts receivable Shop supplies Office equipment Shop furniture Accounts payable Remy, capital Service revenue Rent expense Telephone and wifi expense Salary expense Miscellaneous expense
Transcribed Image Text:Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCE Remy opened her Tours4Fun business. During the first month, January, she completed the following transactions: Began business by investing cash of P300,000 a office equipment valued at P40,000, shop furniture worth P 65,000. Paid rent for the month, P20,000. Bought additional office equipment from Kapamilya Store on credit, P25,000. a. b. C. Bought shop supplies for cash P8,000. Received P20,000 from Sally for passporting services rendered. Purchased another office equipment for cash for P18,000. Completed work for Novy on credit, at P38,000. Paid telephone and internet services worth P5,200. Paid Kapamilya store in full. Recelved cash from customers for services rendered worth P24,000. Received P18,000 from Novy as partial payment of the amount she owes the Tours4Fun. Paid the salary of the office staff, P15,000. Bought another shop furniture worth P10,000 on credit. Miscellaneous expenses paid during the month were paid worth P27,000. d. e. f. 8. h. 1. J. k. 1. m. n. Using the following Account Titles, answer the questions found in the attached google forms. ACCOUNT TITLES: Cash Accounts receivable Shop supplies Office equipment Shop furniture Accounts payable Remy, capital Service revenue Rent expense Telephone and wifi expense Salary expense Miscellaneous expense
1. The account/s with corresponding amounts to be debited to record transaction letter a. is? Cash, P300,000; Office equipment, P40,000 and Shop furniture, P65,000 Cash P300,000 Remy capital, P300,000 Cash P300,000 and Shop furniture 105,000 2. The account/s to be credited with the corresponding amount for letter a. transaction is: Cash, P300,000; Office equipment, P40,000 and Shop furniture, P65,000 Remy, capital P405,000 Accounts payable, P405,000 Accounts receivable, P300,000 3. The account to be debited to record letter b. transaction is Salary expense Telephone and wifi expense Cash Rent expense
Transcribed Image Text:1. The account/s with corresponding amounts to be debited to record transaction letter a. is? Cash, P300,000; Office equipment, P40,000 and Shop furniture, P65,000 Cash P300,000 Remy capital, P300,000 Cash P300,000 and Shop furniture 105,000 2. The account/s to be credited with the corresponding amount for letter a. transaction is: Cash, P300,000; Office equipment, P40,000 and Shop furniture, P65,000 Remy, capital P405,000 Accounts payable, P405,000 Accounts receivable, P300,000 3. The account to be debited to record letter b. transaction is Salary expense Telephone and wifi expense Cash Rent expense
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