State the effects of the above transactions on the assets, liabilities and proprietorship/capital. 2. Indicate its...
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State the effects of the above transactions on the assets, liabilities and proprietorship/capital. 2. Indicate its corresponding amounts in the transactions. 3. Enclose in parenthesis the deductions. Transactions: February 2. Mr. Eddie Cruz opened a mini grocery and invested Php 300,000.00 in cash. February 4. He purchased 100 bundles of echo bags on credit to CSR corporation in the amount of Php50,000.00. February 6.Billed Mrs. Roxas for the purchase of 4 boxes of canned goods and 6 boxes of assorted biscuits, Php 20,000.00. February 20. Mrs. Roxas paid her account Php 20,000.00 to Mr. Eddie Cruz. February 21. Mr. Cruz made a withdrawal for his personal use. Php 15,000.00. February 28. Mr. Cruz paid the salaries of his 2 employees. Php 10,000.00 each. March 1. Mr. Cruz paid his account to CSR corporation. Php 50,000.00. March 2. Mr. Cruz paid rentals and utility bills for February. Php 18,000.00. State the effects of the above transactions on the assets, liabilities and proprietorship/capital. 2. Indicate its corresponding amounts in the transactions. 3. Enclose in parenthesis the deductions. Transactions: February 2. Mr. Eddie Cruz opened a mini grocery and invested Php 300,000.00 in cash. February 4. He purchased 100 bundles of echo bags on credit to CSR corporation in the amount of Php50,000.00. February 6.Billed Mrs. Roxas for the purchase of 4 boxes of canned goods and 6 boxes of assorted biscuits, Php 20,000.00. February 20. Mrs. Roxas paid her account Php 20,000.00 to Mr. Eddie Cruz. February 21. Mr. Cruz made a withdrawal for his personal use. Php 15,000.00. February 28. Mr. Cruz paid the salaries of his 2 employees. Php 10,000.00 each. March 1. Mr. Cruz paid his account to CSR corporation. Php 50,000.00. March 2. Mr. Cruz paid rentals and utility bills for February. Php 18,000.00.
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Initial Investment February 2 Mr Eddie Cruz invested Php 30000000 in cash Balance Php 30000000 Purch... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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