FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Kindly help me in the step 1 of Accounting Cycle

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1. IDENTIFYING AND ANALYZING business documents or transaction

The transactions they had for December 2020 is advanced view of what is to come for the shop in 2021: Sales (framed articles) Framing Projects (delivered but not yet paid) Php 46 750.00 Php 67 740.00 Php 25 000.00 Php 33 580.00 Php 15 450.00 Php 25 550.00 Php 3 675.00 Php 10 540.00 Payroll (2 personnel) Cash (30 November) Rental Purchases (framing materials) Purchases (framing supplies) Collection of accounts receivable SHOW THE FOLLOWING: 1) IDENTIFYING AND ANALYZING business documents or transactions.
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Transcribed Image Text:The transactions they had for December 2020 is advanced view of what is to come for the shop in 2021: Sales (framed articles) Framing Projects (delivered but not yet paid) Php 46 750.00 Php 67 740.00 Php 25 000.00 Php 33 580.00 Php 15 450.00 Php 25 550.00 Php 3 675.00 Php 10 540.00 Payroll (2 personnel) Cash (30 November) Rental Purchases (framing materials) Purchases (framing supplies) Collection of accounts receivable SHOW THE FOLLOWING: 1) IDENTIFYING AND ANALYZING business documents or transactions.
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