(sole proprietor) business operation: Date Transaction Mr. X started a Carwash shop and invested P200,000 cash as initial capital. paid P6,000 for shop rent applicable for one month. Bought and consumed shop supplies for the month of January worth P12, 750. Bought 1 desktop computer for P39,000. Jan. 1 Jan. 1 Jan. 2 Jan. 7 Jan. 10 bought 1 printer on account (credit terms) from Mr. M, worth P15,000. Jan. 21 paid electric bill- P2,500 Jan. 25 Paid water bill- P2,900 Jan. 30 Received P39,700 in cash for carwash services paid employees' salary for the month, P15,000 Prepare a) an Income statement for January 2022 and b) Balance Sheet as of January 31, 2022.

(sole proprietor) business operation: Date Transaction Mr. X started a Carwash shop and invested P200,000 cash as initial capital. paid P6,000 for shop rent applicable for one month. Bought and consumed shop supplies for the month of January worth P12, 750. Bought 1 desktop computer for P39,000. Jan. 1 Jan. 1 Jan. 2 Jan. 7 Jan. 10 bought 1 printer on account (credit terms) from Mr. M, worth P15,000. Jan. 21 paid electric bill- P2,500 Jan. 25 Paid water bill- P2,900 Jan. 30 Received P39,700 in cash for carwash services paid employees' salary for the month, P15,000 Prepare a) an Income statement for January 2022 and b) Balance Sheet as of January 31, 2022.

Name: The following transactions were made during the first month (January
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Description: The following transactions were made during the first month (January 2022) of Mr. X Carwash 's(sole proprietor) business operation:DateTransactionMr. X started a Carwash shop and invested P200,000 cash as initial capital.paid P6,000 for shop rent ap

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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please answer and explain all transactions in detail with effects
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REQUIREMENT: JOURNAL ENTRIES
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