Solve the Problem below. . Gypsy Co. had the following cash related transaction for the fist month of operation, March 2018. the owner invested P 100, 000 to start her business Bought P 50, 200 worth of merchandize inventory Sold goods for P 80, 500 on account Collected P 50, 800 from accounts receivable March 1 6. 15 17 Sold goods for cash P 75, 300 Paid employees salaries amounting to P 36, 900 paid electricity and water bills amounting to P 23, 600 the owner withdraw P 15, 500 for personal expenses 19 25 29 30 Required: Determine the T-account. Gaining Mastery: Summarize the effect of all the transaction above problem and the balance at the end of the period, consider the table below. Normal Debit Credit Balance Date Assets Liability capital Date cash Account Inventory Account Gypsy Receivable payable Capital March I 10b, 000 P 50 200 50,200 9 is 17 19 25 29 30
Solve the Problem below. . Gypsy Co. had the following cash related transaction for the fist month of operation, March 2018. the owner invested P 100, 000 to start her business Bought P 50, 200 worth of merchandize inventory Sold goods for P 80, 500 on account Collected P 50, 800 from accounts receivable March 1 6. 15 17 Sold goods for cash P 75, 300 Paid employees salaries amounting to P 36, 900 paid electricity and water bills amounting to P 23, 600 the owner withdraw P 15, 500 for personal expenses 19 25 29 30 Required: Determine the T-account. Gaining Mastery: Summarize the effect of all the transaction above problem and the balance at the end of the period, consider the table below. Normal Debit Credit Balance Date Assets Liability capital Date cash Account Inventory Account Gypsy Receivable payable Capital March I 10b, 000 P 50 200 50,200 9 is 17 19 25 29 30
Chapter1: Financial Statements And Business Decisions
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