The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement

The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement

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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