answer the first pic the second pic is the example Decrease in Owner's Equity:The business paid P1,000 for the weekly salary of the employee.He received P8,000 cash for services remdered.Account Titles and ExplanationGENERAL JOURNALitty 16Page 2P.R.DebitDateCredit1011.Jul-16 CashService RevenueP8,000401To record cash received forP8,000services renderedIncrease in Asset:increase in Owner's Equity.Analysis:CashService RevenueP8,000P8,000DebitCreditThe business paid P1,000 for the weekly salary of the employee.July 17GENERAL JOURNALPage 2Account Titles and ExplanationDateP.R.DebitCreditJul-17 Salaries ExpenseCash502P1,000101To record payment of salaryP1,000Analysis:Decrease in Owner's Equity:Decrease in Asset:Salaries ExpenseP1,000P1,000DebitCreditCashHe billed a customer P2,000 for services rendered on account.July 21GENERAL JOURNALPage 3DateAccount Titles and ExplanationP.R.DebitCreditJul-21 Accounts Receivable102P 2,000Service Revenue401P 2,000To record customers billed forservices renderedAnalysis:Increase in Asset:Accounts ReceivableP2,000DebitIncrease in Owmer's Equity:CreditService RevenueP2,000 the transactions for the whole month of October 2019.numbers for posting reference, Writc your answers on a separate shectJournal entry for each transaction. Use the following accountof paper.AssetsRevenue101Cash401Service RevenueAccounts Receivable Expenses102103Supplies501Salaries Expense104Service Vehicle502Rent ExpenseLiability503Utilities Expense201Accounts Payable504Advertising ExpenseOwner's Equitv505Miscellaneous Expense301Angelie, Capital302Angelie, DrawingsMichelle Angelié established Angelie's Advertising Business. The following areOct. 12Michele Angelie deposited P250,000 under the name of the business.She acquired a service vehicle in the amount of P195,000 on account.She acquired supplies for cash worth P57,000.She received P87,500 cash for painted signs.10She paid the month's rent amounting to P25,000.11She painted signs for Mundo Mobile on account for P170,000.12She paid P55,000 on account from October 2.16She withdrew P25,000 for personal use.23She collected P35,000 from Mundo Mobile.27She paid salaries amounting to P57,000 for the month.30She paid PH Telecom P7,500 for communication services for themonth.31She paid the bill amounting to P5,500 to AdLamao for advertising forthe month.:21

sactions for the whole month of October 2019. Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. She paid the month's rent amounting to P25,000. She painted signs for Mundo Mobile on account for P170,000. She paid P55,000 on account from October 2. She withdrew P25,000 for personal use. She collected P35,000 from Mundo Mobile. She paid salaries amounting to P57,000 for the month. She paid PH Telecom P7,500 for communication services for the month. 1o to P5 500 to AdLamao for advertising

sactions for the whole month of October 2019. Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. She paid the month's rent amounting to P25,000. She painted signs for Mundo Mobile on account for P170,000. She paid P55,000 on account from October 2. She withdrew P25,000 for personal use. She collected P35,000 from Mundo Mobile. She paid salaries amounting to P57,000 for the month. She paid PH Telecom P7,500 for communication services for the month. 1o to P5 500 to AdLamao for advertising

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 14P: Analyzing Accounts Receivable Upham Companys June 30, 2019, balance sheet included the following...

See similar textbooks

Similar questions

please answer it with a solution. REQUIRED: COMPUTE THE TOTAL INCREASE OR (DECREASE) FOR THE HOME OFFICE ACCOUNT BALANCES ON DECEMBER 31, 2021
Prepare adjusting entries and post revenues and expenses in ledger in 31/12/2019.
Prepare the following for the year ended 31 December 2020 i. Accounts payable and accounts receivables accounts ii. Income statement iii. Balance sheet
Exercise 9-3 On January 1, 2020, Swifty Limited paid $561,003.30 for 10% bonds with a maturity value of $540,000. The bonds provide the bondholders with a 9% yield. They are dated January 1, 2020, and mature on January 1, 2025, with interest receivable on December 31 of each year. Swifty accounts for the bonds using the amortized cost approach, applies ASPE using the effective interest method, and has a December 31 year end. Prepare the journal entry to record the bond purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Jan 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 52.75.) Schedule of Interest Income and Bond Premium Amortization Effective…
Determine the balance in the branch books of the home office account before adjustments as of December 31, 2021.
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Instructions 1. Prepare a multiple-step income statement. 2. Prepare a statement of owners equity. 3. Prepare a balance sheet, assuming that the current portion of the note payable is 50,000. 4. Briefly explain how multiple-step and single-step income statements differ.
Analyzing Accounts Receivable Upham Companys June 30, 2019, balance sheet included the following information: Required: 1. Prepare the journal entries necessary for Upham to record the preceding transactions. 2. Prepare an analysis and schedule that shows the amounts of the accounts receivable, allowance for doubtful accounts, notes receivable, and notes receivable dishonored accounts that will be disclosed on Uphams June 30, 2020, balance sheet.
Comprehensive Selected transactions of Shadrach Computer Corporation during November and December of 2019 are as follows: Required: Prepare journal entries to record the preceding transactions of Shadrach Computer Corporation for 2019. Include year-end accruals. Round all calculations to the nearest dollar.
Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.
On January 1, 2019, Northern Manufacturing Company bought a piece of equipment by signing a non-interest-bearing $80,000, 1-year note. The face value of the note includes the price of the equipment and the interest. The effective interest rate is an annual rate of 16%, and the note is to be paid in four $20,000 quarterly installments on March 31, June 30, September 30, and December 31. The price of the equipment is the present value of the four payments discounted at the effective interest rate.
How much is the accounts receivable as of December 31, 2019? * 460,800 434,400 405,600 398,400
Please solve this question Financial data for Safety Hire as of 30 June 2019 are: Data Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019. Data available in the image thnkx