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RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET Part I. Directions: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Office Equipment; Professional Library; Accounts Payable; and Uzumaki, Capital. If the owner's equity account is affected by a transaction, identify it as revenue, expense, investment, or withdrawal. Uzumaki Naruto opened his Ninja Academy on Dec. 1, 2021. The following transactions were completed during the month. a. Deposited P 110,000 in the bank in the name of the business. b. Bought office equipment on account from Uchiha Corp., P 147,000. c. Invested his personal library into the business, P57,000. d. Received tuition fees from ninja students, Pl1,700. e. Paid office rent for the month, P7,600. f. Bought office supplies for cash, P8,850. g. Paid premium for a one-year fire insurance policy on the equipment and the library, P1,860. h. Acquired office equipment for cash, P 19,350. i. Received electricity bill, P4,820, no payments made yet. j. Billed tuition fees for ninja students, P24,600, no payments received yet. k. Received and paid bill for the use of internet, P2,280. 1. Paid salaries of two part-time ninja sensei, P9,600. m. Paid car rental expenses, P2,880. n. Paid the electricity bill received earlier. o. Received partial payments from previously billed tuition fees, P21,200. p. Paid Uchiha Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000. q. Naruto withdrew cash for personal use, P20,750.

RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET Part I. Directions: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Office Equipment; Professional Library; Accounts Payable; and Uzumaki, Capital. If the owner's equity account is affected by a transaction, identify it as revenue, expense, investment, or withdrawal. Uzumaki Naruto opened his Ninja Academy on Dec. 1, 2021. The following transactions were completed during the month. a. Deposited P 110,000 in the bank in the name of the business. b. Bought office equipment on account from Uchiha Corp., P 147,000. c. Invested his personal library into the business, P57,000. d. Received tuition fees from ninja students, Pl1,700. e. Paid office rent for the month, P7,600. f. Bought office supplies for cash, P8,850. g. Paid premium for a one-year fire insurance policy on the equipment and the library, P1,860. h. Acquired office equipment for cash, P 19,350. i. Received electricity bill, P4,820, no payments made yet. j. Billed tuition fees for ninja students, P24,600, no payments received yet. k. Received and paid bill for the use of internet, P2,280. 1. Paid salaries of two part-time ninja sensei, P9,600. m. Paid car rental expenses, P2,880. n. Paid the electricity bill received earlier. o. Received partial payments from previously billed tuition fees, P21,200. p. Paid Uchiha Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000. q. Naruto withdrew cash for personal use, P20,750.

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter8: Receivables
Section: Chapter Questions
Problem 5PB
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Hello Kindly answer this please. Follow the directions required. MAKE FINANCIAL TRANSMISSION WORKSHEET. Not journal entries
RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET Part I. Directions: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Equipment; Professional Library; Accounts Payable; and Uzumaki, Capital. If the owner's equity account is affected by a transaction, identify it Office as revenue, expense, investment, or withdrawal. Uzumaki Naruto opened his Ninja Academy on Dec. 1, 2021. The following transactions were completed during the month. a. Deposited P 110,000 in the bank in the name of the business. b. Bought office equipment on account from Uchiha Corp., P 147,000. c. Invested his personal library into the business, P57,000. d. Received tuition fees from ninja students, Pl1,700. e. Paid office rent for the month, P7,600. f. Bought office supplies for cash, P8,850. g. Paid premium for a one-year fire insurance policy on the equipment and the library, P1,860. h. Acquired office equipment for cash, P 19,350. i. Received electricity bill, P4,820, no payments made yet. j. Billed tuition fees for ninja students, P24,600, no payments received yet. k. Received and paid bill for the use of internet, P2,280. 1. Paid salaries of two part-time ninja sensei, P9,600. m. Paid car rental expenses, P2,880. n. Paid the electricity bill received earlier. o. Received partial payments from previously billed tuition fees, P21,200. p. Paid Uchiha Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000. q. Naruto withdrew cash for personal use, P20,750. Nothing follows -- -
Transcribed Image Text:RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET Part I. Directions: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Equipment; Professional Library; Accounts Payable; and Uzumaki, Capital. If the owner's equity account is affected by a transaction, identify it Office as revenue, expense, investment, or withdrawal. Uzumaki Naruto opened his Ninja Academy on Dec. 1, 2021. The following transactions were completed during the month. a. Deposited P 110,000 in the bank in the name of the business. b. Bought office equipment on account from Uchiha Corp., P 147,000. c. Invested his personal library into the business, P57,000. d. Received tuition fees from ninja students, Pl1,700. e. Paid office rent for the month, P7,600. f. Bought office supplies for cash, P8,850. g. Paid premium for a one-year fire insurance policy on the equipment and the library, P1,860. h. Acquired office equipment for cash, P 19,350. i. Received electricity bill, P4,820, no payments made yet. j. Billed tuition fees for ninja students, P24,600, no payments received yet. k. Received and paid bill for the use of internet, P2,280. 1. Paid salaries of two part-time ninja sensei, P9,600. m. Paid car rental expenses, P2,880. n. Paid the electricity bill received earlier. o. Received partial payments from previously billed tuition fees, P21,200. p. Paid Uchiha Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000. q. Naruto withdrew cash for personal use, P20,750. Nothing follows -- -
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