Mr. George dela Pena, the owner of Ishikawa Consultancy Services started business on June 1, 2019....

  

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Mr. George dela Pena, the owner of Ishikawa Consultancy Services started business on June 1, 2019. The following chart of accounts was visiblo in the books of Goorgo dola Pona, as well as the transactions. Your task is to completo the matrix provided to you. (117 points) Chart of Accounts Assets: Owner's Equity: Cash on Hand Dela Pena, Capital Accounts Receivable Dela Pena, Withdrawal Supplies Inventory Revenue: Prepaid Rent Consultancy Services Revenue Propaid Insurance Expenses: Furniture and Equipment Permits and Licenses Liabilities: Utilities Expense Accounts Payable Transportation Expense Notes Payable Miscellaneous Expense Salaries Expense The following transactions were completed during the month: Accounts Date June In- De- Transactions Amount Affected croaso croaso 1 Invested cash Php, 150,000.00 Cash on Hand 150000 Dela Pena, Cap 150000 2 Paid one year advance insurance, Php 12,000.00 Purchased supplies on account, Php 5,000. Paid installation of utilities, Php 2.500.00 3 Paid permits and licenses, Php 1,500.00. Paid advance rent for the month, P3,500.00 Purchased office furniture on account, Php 25,000.00 Rendered consultancy services for cash, Php 10.000. 4, 6, Had a meeting with a client and spent Php 1,000.00 cash (miscellaneous expense) Transportation expense incurred in meeting with a client, php 150.00 Rendered consultancy services account, php 7,500.00 Paid the account on June 3 11 15 on 18 20 Rendered consultancy services amounting to Php 25,000.00. Only Php 10,000.00 cash was received. The balance was on account. Purchased supplies and materials on account, Php 5,000.00. A promissory note was issued. Received a bill for utilities utilized during the month, Php 5,000.00 Collected the account on June 15 21 23 25 26 Withdrew Php 5,000.00 for personal use. Paid utilities for the month (refer to the bill on June 23.) Paid salaries to office staff, Php 6,000.00 28 31 Mr. George dela Pena, the owner of Ishikawa Consultancy Services started business on June 1, 2019. The following chart of accounts was visiblo in the books of Goorgo dola Pona, as well as the transactions. Your task is to completo the matrix provided to you. (117 points) Chart of Accounts Assets: Owner's Equity: Cash on Hand Dela Pena, Capital Accounts Receivable Dela Pena, Withdrawal Supplies Inventory Revenue: Prepaid Rent Consultancy Services Revenue Propaid Insurance Expenses: Furniture and Equipment Permits and Licenses Liabilities: Utilities Expense Accounts Payable Transportation Expense Notes Payable Miscellaneous Expense Salaries Expense The following transactions were completed during the month: Accounts Date June In- De- Transactions Amount Affected croaso croaso 1 Invested cash Php, 150,000.00 Cash on Hand 150000 Dela Pena, Cap 150000 2 Paid one year advance insurance, Php 12,000.00 Purchased supplies on account, Php 5,000. Paid installation of utilities, Php 2.500.00 3 Paid permits and licenses, Php 1,500.00. Paid advance rent for the month, P3,500.00 Purchased office furniture on account, Php 25,000.00 Rendered consultancy services for cash, Php 10.000. 4, 6, Had a meeting with a client and spent Php 1,000.00 cash (miscellaneous expense) Transportation expense incurred in meeting with a client, php 150.00 Rendered consultancy services account, php 7,500.00 Paid the account on June 3 11 15 on 18 20 Rendered consultancy services amounting to Php 25,000.00. Only Php 10,000.00 cash was received. The balance was on account. Purchased supplies and materials on account, Php 5,000.00. A promissory note was issued. Received a bill for utilities utilized during the month, Php 5,000.00 Collected the account on June 15 21 23 25 26 Withdrew Php 5,000.00 for personal use. Paid utilities for the month (refer to the bill on June 23.) Paid salaries to office staff, Php 6,000.00 28 31

Answer rating: 100% (QA)

Date Transacti Account affected Increase Decrease Amount 1 Cash on Hand 150000 Dela Pena Cap Pre... View the full answer