Purchased repair supplies for cash p 12 500

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August undefined, 2024

WebSolution for 10. Withdrew cash- P5,000 and supplies- P1,000. A. Cash 5,000 Supplies 1,000 Pachicks, Capital 6,000 B. Cash 5,000 Supplies Expense 1,000 Pachicks,… WebILLUSTRATION • Transaction 1 • Oct. 1 – Mr. Gil opened a motor repair shop and invested P100,000 cash. A = L + P Cash P100,000 = 0 + Gil, Capital P100,000. Analysis: The asset, cash, is increased by P100,000. The proprietorship account is also increased by P100,000 2. Oct. 3 - He purchased repair supplies worth P25,000 on credit from De ...

Review Chapter 2 Accounting Flashcards Quizlet

WebFor example, on March 18, 2024, the company ABC purchases $ 1,000 of office supplies by paying with cash immediately. In this case, the company ABC can make the journal entry … WebDecrease in an asset, decrease in stockholders' equity. Purchased supplies for cash, $1,100. a. a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a … timeshift not opening

Problem Solving - PROBLEM 1. For each of the following ... - Studocu

WebPurchased P1,000 of repair supplies on credit from A. Fuentes. Purchased shop supplies from L. Salvador, P1,500, cash. Completed repair work for S. Valdez and received P1, … WebDuring the month, the company made purchases on account of $35,000 and made payments on account of $48,000. At October 31, 2016, the accounts payable balance is. During 2016, its first year of operations, Aida's Bakery had revenues of $65,000 and expenses of $35,000. The business had owner's drawings of $22,000. WebASK AN EXPERT. Business Accounting 1- Invested P20,000 cash in the business 2 - Bought repair tools worth P3,200 and repair supplies P4,500 on credit from ABC Merchandising 3 … timeshift launches on wrong monitor

3.5 Use Journal Entries to Record Transactions and Post to T

MODULE 3 Activity 1 PDF Debits And Credits Expense - Scribd

Web1. S. Roces opened an air-conditioning service and repair shop and began business by investing. P50,000 cash and the following additional assets: Office equipment P35,000; … WebCash is increasing, which increases total assets on the balance sheet. Transaction 12: On January 30, 2024, purchases supplies on account for $500, payment due within three … paredim communities corporate officeWeb9. Purchased additional repair supplies P670 cash 10. Completed repair work for A. Martinez on credit, P9,800. 11. Paid the salary of the shop assistant, P2,500. 12. Paid … pared inclinada

"WebIn this case, we can determine that the office supplies used up during the period with the formula as below: Office supplies used = Beginning office supplies + Bought-in office supplies – Ending office supplies. Office supplies used = 1,000 + 800 – 500 = 1,300. Likewise, the company ABC can make the journal entry for $1,300 of the office ... " - Purchased repair supplies for cash p 12 500

Purchased repair supplies for cash p 12 500

Rules of Debits and Credits - Bronx Community College

WebThe new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity $30,000. 7. Selling services for cash. During the month of February, Metro Corporation earned a total of $50,000 in revenue from clients who paid cash. WebPurchased additional repair supplies P670 cash. Debit- Repair Supplies P670 Credit- Cash P670 10. Completed repair work for A. Martinez on credit, P9,800. Debit- Accounts …

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WebOwner contributes personal equipment to business $500 repair tools. Debit Rent Expense, Credit Cash. Company pays January (1st month) ... (12) Company buys repair supplies on account (credit) $650. Debit Cash 8,600 ... Purchased Repair supplies on credit, 1,000. Debit Cash Credit Accounts Receivable. WebP3,500 Sept 1 G. Alajar opened a television repair shop he called “Sure Repair Shop”. He began business by investing P2,500 in cash and the following assests: repair tools, …

WebPaid 50% with balance on credit for 30 days 8 – Bought repair supplies for cash P7,500. 9 – Collected cash of P1,500 for cell phone repair services. 10 – Billed Madison Corp. P7,500 for computer repair services rendered. 14 – Summary of cash received P8,000 from customers and a promissory note for P2,500 for computer repair services. 15 – Signed a contract … WebApr 26, 2024 · CREDIT: Cash 50000 CREDIT: Office Supplies 1000..... 10. PAID 400 for the REPAIR of one of the computers. DEBIT: Repairs and Maintenance Expense 400 CREDIT: …

WebJune 1 – Peter made the following investment: Cash – P200,000; Shop equipment – P300,000. 2 - Purchased shop supplies ... Collected the account on June 4. 12 – Received cash for services rendered, P3, 14 -Paid the electric bill, P4,500. 14 – Paid the weekly salary of mechanic. 16 – Bought shop supplies for cash, P2,500. 19 ... WebDate Account Name/Explanation P.R Debit Credit Sept. 3 Cash x 35,000 Repair Equipment x 15,000 W. Madison, Capital x 50,000 5 Office Supplies x 3,900 Cash x 3,900 8 Prepaid Insurance x 7,200 Cash x 7,200 10 Repair Equipment x 5,000 Accounts Payable x 5,000 12 Cash x 10,800 Repair Service Revenue x 10,800 15 Accounts Payable x 2,500 Cash x 2,500

WebFeb 26, 2024 · 9. Purchased additional repair supplies P 670 cash. 10. Completed repair work for A. Martinez on credit, P9,800. 11. Paid the salary of the shop assistant, P2,500. 12. Paid P5,000 for the shop space. 13. Withdrew P 5,000 cash for personal use. 14. Collected the account due from A. Martinez. 15. Received in full the account due from V. Serna. Pa ...

WebJun 30, 2024 · On July 1, 2024, Paul Brite started a TV repair business. July 1 He invested P50,000 in cash to start his business. 3 Purchased for cash shop supplies costing … pared interior blancaWeb1. T. Cruz invested P100,000 in a motor repair shop. 2. Purchased repair supplies for cash, P12,000 3. Purchased repair supplies from L. Guillen on credit, P23,000. 4. Completed … pared industrial pared imagenesWebOn January 31, P11,500 of Repair Supplies was on hand. prepare the adjusted trial balance and a 12-column worksheet, prepare a ... 2024. During July, the following transactions were completed. July 1 Owner invested $11,300 cash in the company. 1 Purchased used truck for $7,520, paying $ ... 12 Billed customers $3,480 ... time shift of a waveformWebThe new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity … pared interactivaWeb6-Received cash from customers for repair services rendered to them, P25,000. 9-Rendered repair services on credit, P 18,000. 10-Purchased additional repair supplies on credit, P6,350. 11-Returned P1,250 worth of repair supplies purchased on June 10. 12-Received payment from customers for repairs completed, 20,000. timeshift network driveWeb1.VALIX opened an account with BPI under the the Assisi Business Agency's name and deposited P850,000 cash. He also invested two personal computers which he acquired a … pared interventricular