Prepare a simple bookkeeping of cash report of Gio Enriquez' allowance using the following information: a)...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Prepare a simple bookkeeping of cash report of Gio Enriquez' allowance using the following information: a) November 10, Gio Enriquez received P15,000 as his allowance for the month of November. b) November 12, Gio spent P500 to buy a new book for his Entrepreneurship class. c) November 14, Gio went to the grocery to get buy basic essentials for himself. He spent P1,500. d) November 15,Gio went to a restaurant with his friends to have dinner. They spent P1,500 to which Gio and 3 of his friends equally shared the bill. e) November 18, After a phone call he got from his father, Gio went to the mall and checked his ATM Savings Account and saw a deposit made to his name in the amount of P20,000. He called his father to inform him that he got the money and it was for his December allowance. f) November 20, Gio went shopping for new clothes and spent P5,000. g) November 25, Gio paid P1,000 to cover for expenses to be incurred in their school party. h) December 2, Gio needed to pay P10,000 for his utilities like cellphone billing (P3,000), P3,000 for his share in the school outing and xmas party. i) December 15, Gio happily announced to his family that his time deposit account already matured and earned for him P5,000 and called the bank to instruct the bank service officer to be deposited to his savings account j) How much is his Closing balance? Prepare a simple bookkeeping of cash report of Gio Enriquez' allowance using the following information: a) November 10, Gio Enriquez received P15,000 as his allowance for the month of November. b) November 12, Gio spent P500 to buy a new book for his Entrepreneurship class. c) November 14, Gio went to the grocery to get buy basic essentials for himself. He spent P1,500. d) November 15,Gio went to a restaurant with his friends to have dinner. They spent P1,500 to which Gio and 3 of his friends equally shared the bill. e) November 18, After a phone call he got from his father, Gio went to the mall and checked his ATM Savings Account and saw a deposit made to his name in the amount of P20,000. He called his father to inform him that he got the money and it was for his December allowance. f) November 20, Gio went shopping for new clothes and spent P5,000. g) November 25, Gio paid P1,000 to cover for expenses to be incurred in their school party. h) December 2, Gio needed to pay P10,000 for his utilities like cellphone billing (P3,000), P3,000 for his share in the school outing and xmas party. i) December 15, Gio happily announced to his family that his time deposit account already matured and earned for him P5,000 and called the bank to instruct the bank service officer to be deposited to his savings account j) How much is his Closing balance?
Expert Answer:
Answer rating: 100% (QA)
To prepare the cash report of Gio Enriquez allowance we will track the cash inflows and outflows and ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Problem Set 3 b. zero. c. negative. d. smaller than the variance. 22. Growth factors for the population of Atlanta in the past five years have been 1, 2, 3, 4, and 5. The geometric mean is a. 15. b....
-
The force on a particle in a magnetic field is the idea behind electromagnetic pumping. It is used to pump metallic fluids (such as sodium) and to pump blood in artificial heart machines. The basic...
-
Determine the distance yc to the centroid of the area and then calculate the moments of inertia Iu and Iv for the channels cross-sectional area. The u and v axes have their origin at the centroid C....
-
What is an external stakeholder? Provide an example of a situation where pressure from external stakeholders has pushed managers to engage with environmental issues.
-
Myers Company Ltd. was formed 10 years ago by the issuance of 34,000 common shares to three shareholders. Four years later, the company went public and issued an additional 30,000 common shares. The...
-
Using Chipotle: Capital structure decision case study Answer the following questions. How does debt policy and the percentage of debt affect Chipotle's firm value Use bullets to highlight the main...
-
You have been hired as a new accountant for Bake-Me-Some-Bread, Inc. They have asked you to calculate the company's Manufacturing Overhead Rate. You are given the following data from the accounting...
-
How do you use a simple sentence in your daily speech? (please write 4 sentences)
-
Net income Interest expense Income tax expense Average total assets Average stockholders' equity Year 5 Year 4 Year 3 Year 2 Year 1 $1,070,100 $922,500 $775,200 $662,600 $561,500 363,800 332,100...
-
The Merlin rocket engines developed by SpaceX can produce 7.41 x 105 N of instantaneous thrust with an exhaust speed of 3.05 x 103 m/s in vacuum. What mass of fuel does the engine burn each second to...
-
A curling stone of mass of 18 kg is traveling at 5 m/s when it hits the opponents stone (of the same mass) at rest in the house (target area). If after the collision, the opponent's stone travels at...
-
An elastic bone is compressed 10 m by a student's weight. The student picks up a very heavy backpack and the same bone compressed by an extra 5 m. (a) How many times heavier or lighter is the student...
-
On January 1, 2024, Cullumber Ltd., a public company, purchased $672,000 of 5-year, 6% bonds at par from Bramble Corporation. Interest is received semi-annually on July 1 and January 1. Cullumber...
-
The following are the data related to H Company for the month of June: Sales Direct Materials Direct Labor Rent (6/10 factory, 4/10 office) Depreciation on Factory Equipment Supervisory (2/3 office,...
-
Audrey purchases a riding lawnmower using a 2-year, no-interest deferred payment plan at Lawn Depot for x dollars. There was a down payment of d dollars and a monthly payment of m dollars. Express...
-
Sophie is a single taxpayer. For the first payroll period in October 2012, she is paid wages of $3,250 monthly. Sophie claims three allowances on her Form W-4. a. Use the percentage method to...
-
Mark owns his home and has a $250,000 mortgage related to his purchase of the residence. When his daughter went to college in the fall of 2012, he borrowed $20,000 through a home equity loan on his...
-
Jim is fired from his job as a waiter and decides to take an extended trip to Europe. After touring Europe for 3 months, Jim returns to look for a new job as a waiter. Are his job-hunting expenses...
-
1 kmol of argon gas confined in a cylinder undergoes a change from an initial condition of 10 bar and 250 K to a final condition of 1 bar and 300 K. The gas follows the equation PV = RT. Given that C...
-
For an isothermal reversible change of the system \[ -\Delta A_{T}=W_{\max } \] explain the significance of the preceding equation in the light of Helmholtz free energy.
-
If the internal energy of a substance is considered to be a function of temperature and volume, then show that \[ d U=C_{V} d T+\left(\frac{T \beta}{\alpha}-P ight) d V \]
Study smarter with the SolutionInn App