PROBLEM # 16

REQUIRED: RECORD THE TRANSACTIONS FOR THE MONTH OF DEC. 2012 USING THE FINANCIAL

TRANSACTION WORKSHEET. USE THE FF. ACCOUNTS; CASH;

ACCOUNTS RECEIVABLE; SUPPLIES;

VIDEOTAPES; ACCOUNTS PAYABLE; AND VICTORINO CAPITAL.

On December 01,2012, Ludivinia Victorino opened a Video tape rental store, Cavite Video, by

investing Php 250,000 cash from her personal savings account. During the month of

December, the following transactions took place.

Dec. 01 - Acquired supplies on account, Php 67,000.

Dec. 04 - Acquired videotapes costing Php 235,000, on account.

Dec. 5 - Paid Php 85,000 to creditors.

Dec . 8 - Received Php 78,000 cash from ACA Video for rental fees.

Dec. 11 - Billed Video City for video rentals, Php 105,000

Dec 16 - Paid salaries, Php 65,000.

Dec 17 - Collected Php 77,000 from Video City.

Dec 23 - Victorino withdrew Php 47,000 from the business.

Dec 24 - Paid rent for the month, Php 41,500.

Dec 30 - Paid utilities bill for the month, Php 17,500.