Please do the Required No. 2Thank you! GLOBEa all 51% O 5:24 pm+ ISN Entry No. 1.d...Journalizing, Posting and Preparing a Trial BalanceJoel Feliciano Communications is a public relation firm. During the month ofAugust, the entity completed the following transactions:Paid rent for August, P6,500Received cash from customers on account, P23,000Ordered supplies P3,800Aug.237Billed customers for services rendered, P28,000Made a payment on accounts payable, P11,000.Received the supplies ordered on August 7 and agreed to pay inthirty days, P3,800Paid salaries for the first half of August, P19,000Discovered some of the supplies were not as ordered and returnedthem in full credit, P800.101214151719Received cash from a customer for services rendered, P48,000Paid the electric and water bill for August, P1,600Paid the telephone bill for August, P1,200.Received a bill, to be paid in September, for advertisement placed ina national newspaper during the month of August to promote JoelFeliciano Communications, P7,00024252629Billed a customer for services rendered, P27,000Paid salaries for the second half of August, P19,000Withdrew cash for personal use, P12,0003031Required:Prepare the journal entries for the August transactions using GeneralJournal page 22 and 23Open the following accounts in the ledger: Cash (111), P102,000; AccountsReceivable (113), P55,000.00; Supplies (115), P6,100; Office Equipment(141), P42,000; Accounts Payable (211), P26,000; Feliciano, Capital (311),P179,100; Feliciano, Withdrawals (312); Public Relations Revenues (411);Salaries Expense (511); Rent Expense (521); Utilities Expense (513); andAdvertising Expense (514).Post entries to the ledger accounts. Make the appropriate postingreferences in the journal and ledger.1.2.3.4.Prepare a trial balance.

The ledgers are prepared to post the journal balances for various accounts.

Prepare the journal entries for the August transactions using General Journal page 22 and 23 Open the following accounts in the ledger: Cash (111), P102,000; Accounts Receivable (113), P55,000.00; Supplies (115), P6,100; Office Equipment (141), P42,000; Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Feliciano, Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent Expense (521); Utilities Expense (513); and Advertising Expense (514). Post entries to the ledger accounts. Make the appropriate posting references in the journal and ledger. Prepare a trial balance. 1. 2. 3. 4.

Prepare the journal entries for the August transactions using General Journal page 22 and 23 Open the following accounts in the ledger: Cash (111), P102,000; Accounts Receivable (113), P55,000.00; Supplies (115), P6,100; Office Equipment (141), P42,000; Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Feliciano, Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent Expense (521); Utilities Expense (513); and Advertising Expense (514). Post entries to the ledger accounts. Make the appropriate posting references in the journal and ledger. Prepare a trial balance. 1. 2. 3. 4.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section: Chapter Questions

Problem 1MP

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