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sactions for the whole month of October 2019. Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. She paid the month's rent amounting to P25,000. She painted signs for Mundo Mobile on account for P170,000. She paid P55,000 on account from October 2. She withdrew P25,000 for personal use. She collected P35,000 from Mundo Mobile. She paid salaries amounting to P57,000 for the month. She paid PH Telecom P7,500 for communication services for the month. 1o to P5 500 to AdLamao for advertising

sactions for the whole month of October 2019. Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. She paid the month's rent amounting to P25,000. She painted signs for Mundo Mobile on account for P170,000. She paid P55,000 on account from October 2. She withdrew P25,000 for personal use. She collected P35,000 from Mundo Mobile. She paid salaries amounting to P57,000 for the month. She paid PH Telecom P7,500 for communication services for the month. 1o to P5 500 to AdLamao for advertising

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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answer the first pic the second pic is the example

Decrease in Owner's Equity: The business paid P1,000 for the weekly salary of the employee. He received P8,000 cash for services remdered. Account Titles and Explanation GENERAL JOURNAL it ty 16 Page 2 P.R. Debit Date Credit 101 1. Jul-16 Cash Service Revenue P8,000 401 To record cash received for P8,000 services rendered Increase in Asset: increase in Owner's Equity. Analysis: Cash Service Revenue P8,000 P8,000 Debit Credit The business paid P1,000 for the weekly salary of the employee. July 17 GENERAL JOURNAL Page 2 Account Titles and Explanation Date P.R. Debit Credit Jul-17 Salaries Expense Cash 502 P1,000 101 To record payment of salary P1,000 Analysis: Decrease in Owner's Equity: Decrease in Asset: Salaries Expense P1,000 P1,000 Debit Credit Cash He billed a customer P2,000 for services rendered on account. July 21 GENERAL JOURNAL Page 3 Date Account Titles and Explanation P.R. Debit Credit Jul-21 Accounts Receivable 102 P 2,000 Service Revenue 401 P 2,000 To record customers billed for services rendered Analysis: Increase in Asset: Accounts Receivable P2,000 Debit Increase in Owmer's Equity: Credit Service Revenue P2,000
Transcribed Image Text:Decrease in Owner's Equity: The business paid P1,000 for the weekly salary of the employee. He received P8,000 cash for services remdered. Account Titles and Explanation GENERAL JOURNAL it ty 16 Page 2 P.R. Debit Date Credit 101 1. Jul-16 Cash Service Revenue P8,000 401 To record cash received for P8,000 services rendered Increase in Asset: increase in Owner's Equity. Analysis: Cash Service Revenue P8,000 P8,000 Debit Credit The business paid P1,000 for the weekly salary of the employee. July 17 GENERAL JOURNAL Page 2 Account Titles and Explanation Date P.R. Debit Credit Jul-17 Salaries Expense Cash 502 P1,000 101 To record payment of salary P1,000 Analysis: Decrease in Owner's Equity: Decrease in Asset: Salaries Expense P1,000 P1,000 Debit Credit Cash He billed a customer P2,000 for services rendered on account. July 21 GENERAL JOURNAL Page 3 Date Account Titles and Explanation P.R. Debit Credit Jul-21 Accounts Receivable 102 P 2,000 Service Revenue 401 P 2,000 To record customers billed for services rendered Analysis: Increase in Asset: Accounts Receivable P2,000 Debit Increase in Owmer's Equity: Credit Service Revenue P2,000
the transactions for the whole month of October 2019. numbers for posting reference, Writc your answers on a separate shect Journal entry for each transaction. Use the following account of paper. Assets Revenue 101 Cash 401 Service Revenue Accounts Receivable Expenses 102 103 Supplies 501 Salaries Expense 104 Service Vehicle 502 Rent Expense Liability 503 Utilities Expense 201 Accounts Payable 504 Advertising Expense Owner's Equitv 505 Miscellaneous Expense 301 Angelie, Capital 302 Angelie, Drawings Michelle Angelié established Angelie's Advertising Business. The following are Oct. 1 2 Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. 10 She paid the month's rent amounting to P25,000. 11 She painted signs for Mundo Mobile on account for P170,000. 12 She paid P55,000 on account from October 2. 16 She withdrew P25,000 for personal use. 23 She collected P35,000 from Mundo Mobile. 27 She paid salaries amounting to P57,000 for the month. 30 She paid PH Telecom P7,500 for communication services for the month. 31 She paid the bill amounting to P5,500 to AdLamao for advertising for the month. :21
Transcribed Image Text:the transactions for the whole month of October 2019. numbers for posting reference, Writc your answers on a separate shect Journal entry for each transaction. Use the following account of paper. Assets Revenue 101 Cash 401 Service Revenue Accounts Receivable Expenses 102 103 Supplies 501 Salaries Expense 104 Service Vehicle 502 Rent Expense Liability 503 Utilities Expense 201 Accounts Payable 504 Advertising Expense Owner's Equitv 505 Miscellaneous Expense 301 Angelie, Capital 302 Angelie, Drawings Michelle Angelié established Angelie's Advertising Business. The following are Oct. 1 2 Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. 10 She paid the month's rent amounting to P25,000. 11 She painted signs for Mundo Mobile on account for P170,000. 12 She paid P55,000 on account from October 2. 16 She withdrew P25,000 for personal use. 23 She collected P35,000 from Mundo Mobile. 27 She paid salaries amounting to P57,000 for the month. 30 She paid PH Telecom P7,500 for communication services for the month. 31 She paid the bill amounting to P5,500 to AdLamao for advertising for the month. :21
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