Question: Kindly answer this transaction (journalizing) 1.00 al Assignment Details Fundamentals of Accounting, Business an.... Description On an EXCEL FILE, Journalize the following transactions: On March



1.00 al Assignment Details Fundamentals of Accounting, Business an.... Description On an EXCEL FILE, Journalize the following transactions: On March 1, 2022, Mr. Martinez started his Photography business. The following are the transactions that happened for the month of March. Journalize the transactions. Mar 1 - Mr. Martinez invested P500,000 and P350,000 worth of equipment. Mar 2- Purchased supplies worth P25,000 on account. Mar 4 - Rendered photography services to B. advertising worth P35,000, on account. Mar 4- Purchased additional supplies, P15,000. Mar 6- Bought equipment worth P90,000, terms: 50% downpayment, 25% on account, and issued promissory note for the remaining balance. Mar 8 - Martinez photography covered the wedding of Lopez couple worth P50,000 and Submit Assignment Module 5 - The Accounting Cycle of a Service Business E 8:49 8:49 a Assignment Details Fundamentals of Accounting, Business an... war 6- Bought equipment worth P90,000, terms: 50% downpayment, 25% on account, and issued promissory note for the remaining balance. Mar 8 - Martinez photography covered the wedding of Lopez couple worth P50,000 and received the payment right after the event. Mar 9 - Collected 50% of the balance from B. Advertising. Mar 12 - Paid all the balances on Mar 6 transaction. Mar 16 - Martinez Photography rendered services amounting to P80,000 on account. Mar 18 P15,000 Paid the salaries of the employees, Mar 20 - Purchased services vehicle worth P250,000. 50% downpayment and the remaining balance is backed up with a note. Mar 20 - Paid electricity, internet, and water bill, P9,000. Mar 23 - Performed services worth P75,000 on account Submit Assignment Module 5 - The Accounting Cycle of a Service Business E 8:49 all Assignment Details Fundamentals of Accounting, Business an... 20 Purchased services vehicle worth P250,000. 50% downpayment and the remaining balance is backed up with a note. Mar 20 - Paid electricity, internet, and water bill, P9,000. Mar 23 - Performed services worth P75,000 on account Mar 25 - Made a partial payment on Mar 20 purchase of vehicle, P50, 000 Mar 28 - Paid insurance P4,000 Chart of Accounts Cash Accounts Receivable Supplies Equipment Vehicle Accounts Payable Submit Assignment Module 5 - The Accounting Cycle of a Service Business E (0) 7.00 al Assignment Details Fundamentals of Accounting, Business an... and insurance 00 8:49 Chart of Accounts Cash Accounts Receivable Supplies Equipment Vehicle Accounts Payable Notes Payable Martinez, Capital Service Income Insurance Expense Salaries Expense Utilities Expense
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
