March 2021 1 The owner, Gina, invested the following: filing cabinets and fixtures- 15,000; cash, 12,000. 2 Purchased repair supplies on account, 16,000. 3 Received cash as an advance payment for repair service, 24,500. Received cash from customers, 15,200. 4 5 Rendered partial service for the advance payment received, 5,400. Paid salaries and wages, 8,000 6 7 Paid PLDT, Meralco and Prime Water, 3,500. Withdrew cash for personal use, 1,800. 8 9 10 Purchased television and computers on account, 38,000. Rendered the remaining balance for the advance payment received. 11 Billed customers for services rendered, 12,000.

March 2021 1 The owner, Gina, invested the following: filing cabinets and fixtures- 15,000; cash, 12,000. 2 Purchased repair supplies on account, 16,000. 3 Received cash as an advance payment for repair service, 24,500. Received cash from customers, 15,200. 4 5 Rendered partial service for the advance payment received, 5,400. Paid salaries and wages, 8,000 6 7 Paid PLDT, Meralco and Prime Water, 3,500. Withdrew cash for personal use, 1,800. 8 9 10 Purchased television and computers on account, 38,000. Rendered the remaining balance for the advance payment received. 11 Billed customers for services rendered, 12,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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