Direction: Journalize the following transaction until letter (j) only. Every correct entry will receive 2 points. Incorrect form of journalizing will not gain any point Clyde Gamolo opened Cagayan Chiropractic Clinic. The following transactions octunduring June of this year:Gamolo invested P180,000 cash in the professional practice.Gamolo invested in the firm professional equipment with a fair marketvalue of P72,000.Bought a filing cabinet on account from Andrews Office Essentials, P3,260.d.a.b.C.Paid cash for chairs for the waiting room, P4,620.Bought a multi-function printer for P15,400 from Main Office Machinespaying P7,400 down; the balance is due in thirty days.Received and paid telephone bill, P990.Billed patients for professional services performed, P16,120.Paid P1,800 as membership dues to the national chiropractic association.e.f.h.Received and paid electric bill, P910.Received P6,900 from patients previously billed in transaction (gl.Paid in full accounts related to purchase of a filing cabinet.Paid offi1.k.

Journal is a book of primary entry or a book of original entry in which transactions are first…

Clyde Gamolo opened Cagayan Chiropractic Clir during June of this year: a. Gamolo invested P180,000 cash in the pro b. Gamolo invested in the firm professional e value of P72,000. C. Bought a filing cabinet on account from Ar d. Paid cash for chairs for the waiting room, Bought a multi-function printer for P15 paying P7,400 down; the balance is due in f. Received and paid telephone bill, P990. Billed patients for professional services pes Paid P1,800 as membership dues to the na e. h.

Clyde Gamolo opened Cagayan Chiropractic Clir during June of this year: a. Gamolo invested P180,000 cash in the pro b. Gamolo invested in the firm professional e value of P72,000. C. Bought a filing cabinet on account from Ar d. Paid cash for chairs for the waiting room, Bought a multi-function printer for P15 paying P7,400 down; the balance is due in f. Received and paid telephone bill, P990. Billed patients for professional services pes Paid P1,800 as membership dues to the na e. h.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 2BCRQ

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