Use the following account heading: 100 Cash; 110 Supplies; 120 Accounts Receivable; 130 Prepaid Rent; 140 Office equipment; 150 Building; 1600 Land; 200 Accounts Payable: 300 Norina, Capital; 310 Norina, Drawings; 500 Service Revenue; 600 Salaries Expense; 610 Utilities expense; 620 Repairs expense; 630 Janitorial expenses Requirements: 1. Record the above transactions using the chart of account of the Company 2. Post the transactions to its individual ledger 3. Prepare Trial Balance
Use the following account heading: 100 Cash; 110 Supplies; 120 Accounts Receivable; 130 Prepaid Rent; 140 Office equipment; 150 Building; 1600 Land; 200 Accounts Payable: 300 Norina, Capital; 310 Norina, Drawings; 500 Service Revenue; 600 Salaries Expense; 610 Utilities expense; 620 Repairs expense; 630 Janitorial expenses Requirements: 1. Record the above transactions using the chart of account of the Company 2. Post the transactions to its individual ledger 3. Prepare Trial Balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Use the following account heading:
100 Cash; 110 Supplies; 120 Accounts Receivable; 130 Prepaid Rent; 140 Office
equipment; 150 Building; 1600 Land; 200 Accounts Payable: 300 Norina,
Capital; 310 Norina, Drawings; 500 Service Revenue; 600 Salaries Expense; 610
Utilities expènse; 620 Repairs expense; 630 Janitorial expenses
Requirements:
1. Record the above transactions using the chart of account of the Company
2. Post the transactions to its individual ledger
3. Prepare Trial Balance

Transcribed Image Text:Problem 6: The following are the transactions of NS Company, owned by Norina
Salvador, for the month of September 2017.
Sept. 1
kupor
Кибката
4
сл
7
9
11
15
2/N
Norina invested P550,000 cash and building and land worth
1,000,000 and 750,000 respectively.
Hired an accountant with a monthly salary of P20,000 memo entry
Purchased computer equipment worth 30,000 paying half and the
balance on account. Jacets. Payouble
Purchased supplies on credit, P450.
Paid xent for the whole year P24,000. Whih year (prepaid) ((advenve
Billed client for services on credit, P50,000.
Paid half month salary of the accountant
18 Norina provided services and received cash amounting to P5,750.
21 Paid janitorial expense for the month amounting to P11,435
23 Norina withdrew P10,000 for personal use.
25
27
Received payment from customer previously billed P20,000
Received billing from Meralco amounting to P7,200.
Paid half month salary of the accountant
30
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