joet Feliciano Communications is a public relations firm. During the month of August, Receivabie (113), P55,000; Supplies (115), P6,100; Office Equipment (141), P42,000 Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent 3. Post the entries to the ledger accounts. Make the appropriate posting references in the entity completed the following transactions: Paid rent for August, P6,500. Received cash from customers on account, P23,000. Ordered supplies, P3,800. Billed customers for services rendered, P28,000. Made a payment on accounts payable, P11,000. Received the supplies ordered on August 7 and agreed to pay in thirty days, P3,800. Paid salaries for the first half of August, P19,000. Discovered some of the supplies were not as ordered and returned them for full credit, P800. Aug. 2 3 10 12 14 15 17 Received cash from a customer for services rendered, P48,000. Paid the electric and water bill for August, P1,600. Paid the telephone bill for August, P1,200. Received a bill, to be paid in September, for advertisements placed in a national newspaper during the month of August to promote Joel Feliciano Communications, P7,000. Billed a customer for services rendered, P27,000. Paid salaries for the second half of August, P19,000. Withdrew cash for personal use, P12,000. 19 24 25 26 29 30 31 Required: 1. Prepare the journal entries for the August transactions using GJ page 22 and 23. 2. Open the following accounts in the ledger: Cash (111), P102.000; Accounb Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Feiiciae Expense (512); Utilities Expense (513); and Advertising Expense (S14). the journal and ledger. 4. Prepare a trial balance.
joet Feliciano Communications is a public relations firm. During the month of August, Receivabie (113), P55,000; Supplies (115), P6,100; Office Equipment (141), P42,000 Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent 3. Post the entries to the ledger accounts. Make the appropriate posting references in the entity completed the following transactions: Paid rent for August, P6,500. Received cash from customers on account, P23,000. Ordered supplies, P3,800. Billed customers for services rendered, P28,000. Made a payment on accounts payable, P11,000. Received the supplies ordered on August 7 and agreed to pay in thirty days, P3,800. Paid salaries for the first half of August, P19,000. Discovered some of the supplies were not as ordered and returned them for full credit, P800. Aug. 2 3 10 12 14 15 17 Received cash from a customer for services rendered, P48,000. Paid the electric and water bill for August, P1,600. Paid the telephone bill for August, P1,200. Received a bill, to be paid in September, for advertisements placed in a national newspaper during the month of August to promote Joel Feliciano Communications, P7,000. Billed a customer for services rendered, P27,000. Paid salaries for the second half of August, P19,000. Withdrew cash for personal use, P12,000. 19 24 25 26 29 30 31 Required: 1. Prepare the journal entries for the August transactions using GJ page 22 and 23. 2. Open the following accounts in the ledger: Cash (111), P102.000; Accounb Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Feiiciae Expense (512); Utilities Expense (513); and Advertising Expense (S14). the journal and ledger. 4. Prepare a trial balance.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 5PB: The transactions completed by AM Express Company during March, the first month of the fiscal year,...
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Transcribed Image Text:joet Feliciano Communications is a public relations firm. During the month of August,
Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Feliciano,
3. Post the entries to the ledger accounts. Make the appropriate posting references in
Withdrawais (312); Public Relations Revenues (411); Salaries Expense (511); Rent
2. Open the following accounts in the ledger: Cash (111), P102,000; Accounts
the entity completed the following transactions:
Paid rent for August, P6,500.
Received cash from customers on account, P23,000.
Ordered supplies, P3,800.
Billed customers for services rendered, P28,000.
Made a payment on accounts payable, P11,000.
Received the supplies ordered on August 7 and agreed to pay in
thirty days, P3,800.
Paid salaries for the first half of August, P19,000.
Discovered some of the supplies were not as ordered and returned
them for full credit, P800.
Aug. 2
3.
10
12
14
15
17
Received cash from a customer for services rendered, P48,000.
Paid the electric and water bill for August, P1,600.
Paid the telephone bill for August, P1,200.
Received a bill, to be paid in September, for advertisements placed
in a national newspaper during the month of August to promote Joel
Feliciano Communications, P7,000.
Billed a customer for services rendered, P27,000.
Paid salaries for the second half of August, P19,000.
Withdrew cash for personal use, P12,000.
19
24
25
26
29
30
31
Required:
1. Prepare the journal entries for the August transactions using GJ page 22 and 23.
Receivable (113), P55,000; Supplies (115), P6,100; Office Equipment (141), P42,00
Expense (512); Utilities Expense (513); and Advertising Expense (514).
the journal and ledger.
4. Prepare a trial balance.
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