FINANCIAL TRANSACTION WORKSHEET TRANSACTION A. Jasmin invested 100 000 cash to start a Travel and Tour Agency. B. Jasmin bought repair equipment from X Co. on credit, 150 000 C. She bought shop supplies for cash 25 000 D. Paid X Co. partially 25 500 E. Customers paid cash for services rendered to them, 50 000. F. Paid utilies expense, 5 000, G. Cruz paid salaries and wages, 34 000 H. Shop supplies purchased, 15 000 and made a down payment of 5 000 1. Cruz, withdrew 10 000 for his personal use. J. Paid rent expense for the month, 7 000 K. Miscellaneous espense, 2000 ASSETS = 100 000 150 000 25 000 (25 000) (25 500) 50 000 (5 000) (34 000) 15000 (5000) (10 000) (7 000) (2 000) LIABILITIES + 150 000 (25 500) 10 000 OWNER'S EQUITY 100 000 50 000 (5 000) (34 000) (10 000) (7 000) (2 000)

FINANCIAL TRANSACTION WORKSHEET TRANSACTION A. Jasmin invested 100 000 cash to start a Travel and Tour Agency. B. Jasmin bought repair equipment from X Co. on credit, 150 000 C. She bought shop supplies for cash 25 000 D. Paid X Co. partially 25 500 E. Customers paid cash for services rendered to them, 50 000. F. Paid utilies expense, 5 000, G. Cruz paid salaries and wages, 34 000 H. Shop supplies purchased, 15 000 and made a down payment of 5 000 1. Cruz, withdrew 10 000 for his personal use. J. Paid rent expense for the month, 7 000 K. Miscellaneous espense, 2000 ASSETS = 100 000 150 000 25 000 (25 000) (25 500) 50 000 (5 000) (34 000) 15000 (5000) (10 000) (7 000) (2 000) LIABILITIES + 150 000 (25 500) 10 000 OWNER'S EQUITY 100 000 50 000 (5 000) (34 000) (10 000) (7 000) (2 000)

Name: FINANCIAL TRANSACTION WORKSHEETTRANSACTIONA. Jasmin invested 100 000
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Description: FINANCIAL TRANSACTION WORKSHEETTRANSACTIONA. Jasmin invested 100 000 cash to start a Travel and Tour Agency.B. Jasmin bought repair equipment from X Co. on credit, 150 000C. She bought shop supplies for cash 25 000D. Paid X Co. partially 25 500E. Cu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On Dec. 1, 2021, Ludivinia Victorino opened a videotape rental store, Cavite Video, by investing P250,000 cash from her personal savings account. During the month of December, the following transactions took place: Dec. 1 4 58 11 16 17 23 24 30 Acquired supplies on account, P67,000. Acquired videotapes costing P235,000, on account. Paid P85,000 to creditors.. Received P78,000 cash from ACA Video for rental fees. Billed Video City for video rentals, P105,000. Paid salaries, P65,000. Collected P77,000 from Video City. Victorino withdrew P47,000 from the business. Paid rent for the month, P41,500. Paid utilities bill for the month, P17,500. Required: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Supplies; Videotapes; Accounts Payable; and Victorino, Capital.
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2. Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information. а. Cash on hand ? b. Savings Account in Metrobank = 200,000 and in BPI 345,654 c. Money market accounts = 125,000 d. Accounts Receivables from Maria = 34,890; Juana = 12,900 and Jose = 6500 e. Automobiles at current market value = 2,345,000 f. House and lot at current market value = 12,450,900 g. Personal properties = 3,568,788 h. Furnitures , Fixtures and appliances = 875,600 i. Stock investments = 90,000 j. Bond investments 50,000 k. Credit card loans = 89,700 1. Short term loans with cooperatives = 239,890 m. Unpaid taxes = 75,690 n. Automobile loan = 684,500 o. Housing loan = 2,500,894 p. Both spouses are working with a total annual income of 3,500,433 q. They have received a total of 400,000 from their relatives abroad as gifts in cash. r. They received dividends of 12,450 from the cooperative for the year. s. They received 23,693 from the sale of old appliances t. 8% of…
Pita purchased a small roadside inn in April with inheritance money he received from his wealthy aunt. Help him prepare his T accounts for his first month of operations using the information provided. a. Pita invested P5,000,000 cash in the inn.Cash Owners’ Equityb. Pita purchased a P50,000 point of sale (POS) system with P5,000 cash and P45,000 notes payable.Cash POS system Notes Payablec. Pita generated P75,000 in revenues with P52,000 cash and P23,000 accounts receivable.Cash Accounts Receivable Revenuesd. Pita paid utilities of P750 in cash.Cash Utilities Expense
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