Question: Help, in a google sheet complete the accounting cycle with clear explanation. Send the link here. Thank you. Problem 3: Zabala Auto supply has the

Help, in a google sheet complete the accounting cycle with clear explanation. Send the link here. Thank you.

Help, in a google sheet complete the accounting cycle with clear explanation.

Problem 3: Zabala Auto supply has the following transactions during the month of January, 2030: You are hired to prepare the financial statements for the month of January 2030: 1 Mr. Zabala invested P1,500,000 cash to the business. Signed a contract of lease to lease office space and paid P60,000 cash for months' rent in advance. Purchased auto supplies for P400,000 cash. Purchased furniture and Fixtures P100,000 on account Hired storekeeper and driver for a monthly salary of P12,000 each. Purchased office supplies for cash P3,000 JOUI W WWNNN Acquired delivery van for P300,000 Paid Gas and Oil P2,000 Sold goods P50,000 for cash. Billed ABC P100,000 on account with credit terms of 2/10, n/20. Sold goods for P10,000 cash. 9 Paid the furniture purchased on January 2. 10 Acquired auto supplies P500,000 on account with credit terms of 2/10, n/30 11 Sold goods for P200,000 cash. 14 Paid Gas and Oil P2,000 15 Collected cash from ABC in full settlement of accounts. 15 Paid salaries of employees P12,000 16 Paid Insurance P12,000 for one year period. 8 Received billing from Meralco P4,000. 20 Paid the supplier for goods purchased on account. 21 Sold goods for cash, P10,000 22 Paid Meralco P4,000 25 Sold goods to XYZ Co. P10,000 on account, credit terms n/30. 28 Purchased auto supplies P50,000 for cash 30 Paid salaries of employees P10,000. 30 Withdrew cash for personal use P20,000. Additional Information: a. The office supplies on hand is P1,000. b. The auto supplies per physical count is P50,000. c. Salaries accrued for the month of January P2,000. d. One-month prepaid insurance has expired. e. One-month prepaid rent has expired. f. The delivery van has a useful life of 5 years and residual value of P60,000 g. The furniture and fixtures has a useful life of 5 years

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