Journal Entry - TRIAL BALANCE The koi are transactions of Ms. Dianna Fe D. Eranista, aThe following are the transactions of Mrs. Dianna Fe D.Eranista, a customer during the month of July her first monthof business operation:coutner dng the month of July, her first month of business operatio! Ms Dianna Fe invested P 750,000 cash in the business2 Purchased for cash a second hand car amounting to00,000 to be used in the business.4 Purchased supplies on account worth P 7,500.7 Biled customers for services rendered amounting to P 22,5009 Rendered services to customers for cash, P 15,000.11 Paid the advertisement of the business amounting to P 3,000.14 invested additional cash in the business, P 150,000.15 Purchased P 75,000 worth of office equipment on accountwith a written promise to pay next week.17 issued check in payment for the supplies purchased on July 4.18 Received P 7,500 cash from customers billed on July 7.22 Purchased additional P 7,500 worth of office supplies for cash.24 Issued check in payment for the promissory note issuedpromissory note on July 15.28 Paid creditor on account, P 4,500.29 The owner withdrew P 7,500 cash for personal use.

Answered: The following are the transactions of…

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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Required: post entries to the relevant accounts in the general ledger and balance the accounts: On 1/1/2023, Jassim started his commercial business with a capital of $3,735,000 distributed over the following assets: 1500,000 cash, 700,000 cars, 350,000 goods, 1,185,000 bank, If you know that the following operations took place during January 2023: 1. On 1/3 he bought a building for $950,000 by check, and the costs of registering it amounted to $5200 and the expenses of preparing it for use amounted to $43000, which I paid in cash. 2. On 9/1 he sold his goods on account to Mahmoud for $280,000. 3. On 1/10, he bought goods from Daoud for $324,000, he paid half of them in cash, and wrote the rest as a promissory note due after two months. He also paid the costs of transporting the purchased goods, amounting to $1,800. 4. On 1/12 he sold his goods to Al-Tafa'il stores for the amount of $198,000 in cash, of which $65,000 was deposited in the bank. 5. On 1/15, he sold the most valuable car…
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Pita purchased a small roadside inn in April with inheritance money he received from his wealthy aunt. Help him prepare his T accounts for his first month of operations using the information provided. a. Pita invested P5,000,000 cash in the inn.Cash Owners’ Equityb. Pita purchased a P50,000 point of sale (POS) system with P5,000 cash and P45,000 notes payable.Cash POS system Notes Payablec. Pita generated P75,000 in revenues with P52,000 cash and P23,000 accounts receivable.Cash Accounts Receivable Revenuesd. Pita paid utilities of P750 in cash.Cash Utilities Expense
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On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi Sheikh completed the following transactions related to the business: July 1: Arabi transferred cash from his personal account and invested it for business use, $23500. July 10: Purchased a truck for $14900, paying $7200 cash and the remainder will be paid in the future. July 12: Paid annual premiums on property and casualty insurance (advance), $2570. July 17: Paid creditor a portion of the amount owed for truck purchased on July 10, $4220. July 20: Completed services on account and billed the customer, $7310 July 25: Received cash from customers on account, $3520. July 31: Paid salaries expense of $460 and utilities expense of $300. (a) Journalize the above transactions for the month of July (b) Prepare ledger accounts in running balance format (c) Prepare trial balance at 31 July 2020
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