ANALYZE THE FOLLOWING TRANSACTIONS. PREPARE THE NEEDED REQUIREMENTS. THE FOLLOWING TRANSACTIONS HAPPENED ON OCTOBER, 2020. 1 -
Question:
ANALYZE THE FOLLOWING TRANSACTIONS. PREPARE THE NEEDED REQUIREMENTS.
THE FOLLOWING TRANSACTIONS HAPPENED ON OCTOBER, 2020.
1 - Invested additional cash amounting to P300,000.00
4 - Purchased additional supplies on credit, P10,000.
8 - Rendered services on account, P20,000.00
10 - Completed services and received, P40,000.00
15 - Bought additional furniture, P75,000.00
20 - Paid the account in transaction number 2.
25 - Billed the customer after rendered services, P 50,000.00
31 - Paid the following expenses: Salary - P15,000.00 and Rent - P8,000.00
On December 31, 2020, the following additional data were taken:
1. Of the income received, P3,000 is applicable to the next accounting period.
2. Furniture depreciated at 10% per annum.
3. Accrual of expenses: Salary - P1,000.00 ; Rent - P 500.00
REQUIREMENTS:
1. JOURNAL ENTRIES
2. LEDGER (POSTING)
3. UNADJUSTED TRIAL BALANCE
4. ADJUSTING ENTRIES
5. ADJUSTED TRIAL BALANCE
6. FINANCIAL STATEMENTS
7. CLOSING ENTRIES
8. POST-CLOSING TRIAL BALANCE
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood