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    Enrichment 3

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    Mabelle Dabu Facturanan
    Mabelle opened Siblings Fast Service on May 1, 2017 with a P10,000 cash investment. Throughout May, she made various business transactions including purchasing equipment, paying deposits, collecting cash from customers for services, and paying expenses. She should journalize and post these transactions to accounts in the general ledger and prepare a trial balance to summarize the financial status of the business at the end of the month.

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    Enrichment 3

    Uploaded by

    Mabelle Dabu Facturanan
    29 views1 page
    Mabelle opened Siblings Fast Service on May 1, 2017 with a P10,000 cash investment. Throughout May, she made various business transactions including purchasing equipment, paying deposits, collecting cash from customers for services, and paying expenses. She should journalize and post these transactions to accounts in the general ledger and prepare a trial balance to summarize the financial status of the business at the end of the month.

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    Mabelle opened Siblings Fast Service on May 1, 2017 with a P10,000 cash investment. Throughout May, she made various business transactions including purchasing equipment, paying deposits, collecting cash from customers for services, and paying expenses. She should journalize and post these transactions to accounts in the general ledger and prepare a trial balance to summarize the financial status of the business at the end of the month.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    29 views1 page

    Enrichment 3

    Uploaded by

    Mabelle Dabu Facturanan
    Mabelle opened Siblings Fast Service on May 1, 2017 with a P10,000 cash investment. Throughout May, she made various business transactions including purchasing equipment, paying deposits, collecting cash from customers for services, and paying expenses. She should journalize and post these transactions to accounts in the general ledger and prepare a trial balance to summarize the financial status of the business at the end of the month.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Enrichment #3 Enrichment #3

    Siblings Fast Service was opened by Mabelle on May 1, 2017 with a Siblings Fast Service was opened by Mabelle on May 1, 2017 with a
    cash investment of P10,000. Additional transaction for the month cash investment of P10,000. Additional transaction for the month
    follows: follows:

    May 2 Mabelle invested 2 photo copying machine worth May 2 Mabelle invested 2 photo copying machine worth
    18,000. 18,000.
    4 Paid 4,000 as deposit for space rental 4 Paid 4,000 as deposit for space rental
    5 Brought office supplies for cash, P500 5 Brought office supplies for cash, P500
    7 Received P2,000 cash from various students for 7 Received P2,000 cash from various students for
    typing services rendered. typing services rendered.
    9 Rendered typing services on account P3,000 9 Rendered typing services on account P3,000
    10 Bought office furniture from Kenneth, P5,000. Paid 10 Bought office furniture from Kenneth, P5,000. Paid
    50% and promise to pay the balance within 30 days. 50% and promise to pay the balance within 30 days.
    12 Paid Kenneth, P1,000 12 Paid Kenneth, P1,000
    14 Collection from account customer, P2,000 14 Collection from account customer, P2,000
    15 Paid salaries of typist, P1,500 15 Paid salaries of typist, P1,500
    19 Summary of cash received, P2,000 and a promissory 19 Summary of cash received, P2,000 and a promissory
    note for P200 for typing services rendered. note for P200 for typing services rendered.
    20 Paid telephone, light and water, P800 20 Paid telephone, light and water, P800
    25 Paid P300 for repair of the photocopying machine. 25 Paid P300 for repair of the photocopying machine.
    30 Payment: Salaries, P1,500; Rent, P1,500 30 Payment: Salaries, P1,500; Rent, P1,500
    31 Mabelle made a cash withdrawal of P500 31 Mabelle made a cash withdrawal of P500

    Required: Required:
    Journalize using a yellow paper Journalize using a yellow paper
    Open a general ledger and post the entries Open a general ledger and post the entries
    Prepare a trial balance Prepare a trial balance

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