The following transactions were taken from Mating Dormitory, a pegspace and catering services business owned by RCM (a hybrid business) during the first month of operations: Chart of Accounts Accounts Payable RCM, Capital RCM, Withdrawals Cash on hand Dorm Supplies Accounts Receivable Rent Income Catering Service Income Meals Expense Laundry Expense Taxes & licenses Expense Sample: Ms. RCM invested cash of P100,000 and fumiture and fixtures amounting to P250,000. Sept. 5: Space rental income for the month: Cash P15,000 On account - 10,000 Sept. 6: Pudbased various foods on account from Super Mart for her tenants, P50,000 and paid freight, P1,000. Sept. 10: RCM withdrew P10,000 cash from her business. Sept. 15: Received cash of P60,000 for catering services. Sept. 26: Paid her account with Super Mart. Sept. 27: Collected space rental account from tenant, P10,000. (Refer to transaction on Sept.5) Sept. 28: Bought dorm supplies from Super Mart and paid P3,000. Sept. 29: Paid laundry expenses, P5,000 Sept. 30: Paid taxes and licenses, P7,000

The following transactions were taken from Mating Dormitory, a pegspace and catering services business owned by RCM (a hybrid business) during the first month of operations: Chart of Accounts Accounts Payable RCM, Capital RCM, Withdrawals Cash on hand Dorm Supplies Accounts Receivable Rent Income Catering Service Income Meals Expense Laundry Expense Taxes & licenses Expense Sample: Ms. RCM invested cash of P100,000 and fumiture and fixtures amounting to P250,000. Sept. 5: Space rental income for the month: Cash P15,000 On account - 10,000 Sept. 6: Pudbased various foods on account from Super Mart for her tenants, P50,000 and paid freight, P1,000. Sept. 10: RCM withdrew P10,000 cash from her business. Sept. 15: Received cash of P60,000 for catering services. Sept. 26: Paid her account with Super Mart. Sept. 27: Collected space rental account from tenant, P10,000. (Refer to transaction on Sept.5) Sept. 28: Bought dorm supplies from Super Mart and paid P3,000. Sept. 29: Paid laundry expenses, P5,000 Sept. 30: Paid taxes and licenses, P7,000

Name: 10а.b.15а.b.26a.b.27a.b.28а.b.29а.b.30a.b. Instructions: Analyze the
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Description: 10а.b.15а.b.26a.b.27a.b.28а.b.29а.b.30a.b. Instructions: Analyze the transactions below based on the criteria provided. Refer to the sample provided forreference. Write your answers on the table provided below.The following transactions were taken f

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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