March 2023 3 8 1 10 15 17 18 20 23 27 30 Mr. \( R \) invested cash of \( \mathrm{P} 1,000,000.00 \) in the business. There was a purchase for cash of P30,000.00 of Office Equipment. Rendered services and was paid in promissory note of P50,000.00 (Use Notes Receivable) Salary expense of \( \mathrm{P} 20,000.00 \) was paid in cash. Purchase of P50,000.00 Office Equipment on account. Received P50,000.00 cash from client as payment for Notes Receivable. Paid Accounts Payable of P50,000.00 in cash. Cash withdrawal by nthe owner of \( \mathrm{P} 25,000.00 \), for personal needs. Paid P10,000.00 for light and water. (use Utilities Expense) Paid P30,000.00 Operating Expense for the month.
Added by Tina H.
Close
Step 1
March 3: Mr. R invested cash of P1,000,000.00 in the business. This will increase the cash account by P1,000,000.00 and increase the owner's equity by the same amount. Show more…
Show all steps
Your feedback will help us improve your experience
Izxy Tech and 82 other Intro Stats / AP Statistics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Journalize the following transactions in the books Mr. Akbar, post them in ledgers, and prepare the trial balance and Financial Statements. 2020 January 1 Owner started business with Cash $ ___________ January 3 Bought supplies for Cash $ 5,000. January 4 Bought Equipment of $ ___________ through cheque. January 5 Purchased goods for cash $ 90,000 January 7 Paid rent of office $ 1,000 with a cheque. January 10 Bought goods from Hamid on Credit $ _________ January 11 Paid wages for $ 2,000. January 12 Sold goods for Cash for $ ________ January 18 Sold goods to Ahmed $ __________ January 19 Paid cash to Hamid $ _________ January 20 Paid internet bill $ 500 in cash. January 24 Received Cash from Ahmed $ 5,000. January 29 Money withdrawn $ 5,000 for personal use. January 30 Deposited $ 3,000 cash in to business bank account.
Izxy T.
48. Use Oma Bean Corporation's adjusted trial balance to prepare Oma Bean's balance sheet for the current year-end. OMA BEAN CORPORATION Adjusted Trial Balance For Year Ending December 31, 2019 Debit Cash 66,000 Accounts receivable 42,000 Equipment 564,000 Accumulated depreciation 108,000 Notes payable 90,000 Common stock 195,000 Retained earnings 93,000 Sales 489,000 Rent expense 66,000 Salaries expense 174,000 Depreciation expense 63,000 Totals 975,000 Credit 975,000
Derrick D.
Your business purchased office supplies of $2,500 on account. The journal entry to record this transaction is as follows: Accounts and Explanation Debit Credit Cash 2,500 Accounts Payable 2,500 Debit Credit Accounts Payable 2,500 Office Supplies 2,500 Debit Credit Office Supplies 2,500 Accounts Payable 2,500 Debit Credit Office Supplies 2,500 Accounts Receivable 2,500
Bharat K.
Recommended Textbooks
Elementary Statistics a Step by Step Approach
The Practice of Statistics for AP
Introductory Statistics
Watch the video solution with this free unlock.
EMAIL
PASSWORD