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cording of transactions (Incor Meals @ P500 & Transportation Cost @ account @ P 10,000.

cording of transactions (Incor Meals @ P500 & Transportation Cost @ account @ P 10,000.

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 4.12C
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Note: SHOULD FOLLOW THE GIVEN FORMAT. Thank you
CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 16, Sales for the day @ P 3,000 Mar 17, Zee paid for the following: Meals @ P500 & Transportation Cost @ P200. Mar 18, Yee customer purchased on account @ P 10,000. Mar 19, Walk in sales for the day P 2,000 Mar 20, Zee paid rent @ P 5,000 CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 21, Zee paid Electricity Consumption @ P 2,000 Mar 22, Sales for the day @ P4,000 Mar 23, Xee a regular customer purchased groceries @ 60% cash and the rest are on account. Total groceries cost is P 20,000 Mar 24, The customer on Mar 18, paid 40% of his account in cash. Mar 25, Xee paid in full
Transcribed Image Text:CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 16, Sales for the day @ P 3,000 Mar 17, Zee paid for the following: Meals @ P500 & Transportation Cost @ P200. Mar 18, Yee customer purchased on account @ P 10,000. Mar 19, Walk in sales for the day P 2,000 Mar 20, Zee paid rent @ P 5,000 CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 21, Zee paid Electricity Consumption @ P 2,000 Mar 22, Sales for the day @ P4,000 Mar 23, Xee a regular customer purchased groceries @ 60% cash and the rest are on account. Total groceries cost is P 20,000 Mar 24, The customer on Mar 18, paid 40% of his account in cash. Mar 25, Xee paid in full
JOURNAL DATE PARTICULARS DR. CR. July 1, 2019 PHP CASH DELIVERY EQUIPMENT 800,000 200,000 PAOLO REYES CAPITAL PHP 1,000,000 # To record Paolo Reyes' Cash and Delivery equipment investment July 2, 2019 CASH PHP 100,000 LOANS PAYABLE PHP 100,000 # To recofd borrowings from PNB July 7, 2019 FURNITURES & FIXTURES PHP 45,000 CASH PHP 45,000 # To record purchase of Tables and Chairs July 15, 2019 EQUIPMENT PHP 55,000 ACCOUNTS PAYABLE PHP 55,000 # To recofd purchase on account from Fortune Jule 18, 2019 PAOLO REYES DRAWINGS PHP 5,000 CASH PHP 5,000 # To record Paolo Reyes drawings July 20, 2019 ACCOUNTS PAYABLE PHP 55,000 CASH PHP 55,000 # To record payment of purchased on account last July 15 FORMAT
Transcribed Image Text:JOURNAL DATE PARTICULARS DR. CR. July 1, 2019 PHP CASH DELIVERY EQUIPMENT 800,000 200,000 PAOLO REYES CAPITAL PHP 1,000,000 # To record Paolo Reyes' Cash and Delivery equipment investment July 2, 2019 CASH PHP 100,000 LOANS PAYABLE PHP 100,000 # To recofd borrowings from PNB July 7, 2019 FURNITURES & FIXTURES PHP 45,000 CASH PHP 45,000 # To record purchase of Tables and Chairs July 15, 2019 EQUIPMENT PHP 55,000 ACCOUNTS PAYABLE PHP 55,000 # To recofd purchase on account from Fortune Jule 18, 2019 PAOLO REYES DRAWINGS PHP 5,000 CASH PHP 5,000 # To record Paolo Reyes drawings July 20, 2019 ACCOUNTS PAYABLE PHP 55,000 CASH PHP 55,000 # To record payment of purchased on account last July 15 FORMAT
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