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    Accounting Chapter 2

    Uploaded by

    Ebony Ann delos Santos
    The document contains journal entries and financial statements for Playnet.com for March 2022. It records cash capital of PHP 350,000, payments for salaries of PHP 6,000, rent of PHP 10,000, building materials of PHP 15,000, supplies of PHP 1,500 and office equipment of PHP 300,000. The statement of financial position shows total assets of PHP 497,000 consisting of cash, supplies, equipment, rent deposit and leasehold improvements, with total liabilities and equity of PHP 497,000 consisting of notes payable of PHP 150,000 and capital of PHP 347,000.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Accounting Chapter 2

    Uploaded by

    Ebony Ann delos Santos
    12 views4 pages
    The document contains journal entries and financial statements for Playnet.com for March 2022. It records cash capital of PHP 350,000, payments for salaries of PHP 6,000, rent of PHP 10,000, building materials of PHP 15,000, supplies of PHP 1,500 and office equipment of PHP 300,000. The statement of financial position shows total assets of PHP 497,000 consisting of cash, supplies, equipment, rent deposit and leasehold improvements, with total liabilities and equity of PHP 497,000 consisting of notes payable of PHP 150,000 and capital of PHP 347,000.

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    The document contains journal entries and financial statements for Playnet.com for March 2022. It records cash capital of PHP 350,000, payments for salaries of PHP 6,000, rent of PHP 10,000, building materials of PHP 15,000, supplies of PHP 1,500 and office equipment of PHP 300,000. The statement of financial position shows total assets of PHP 497,000 consisting of cash, supplies, equipment, rent deposit and leasehold improvements, with total liabilities and equity of PHP 497,000 consisting of notes payable of PHP 150,000 and capital of PHP 347,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    12 views4 pages

    Accounting Chapter 2

    Uploaded by

    Ebony Ann delos Santos
    The document contains journal entries and financial statements for Playnet.com for March 2022. It records cash capital of PHP 350,000, payments for salaries of PHP 6,000, rent of PHP 10,000, building materials of PHP 15,000, supplies of PHP 1,500 and office equipment of PHP 300,000. The statement of financial position shows total assets of PHP 497,000 consisting of cash, supplies, equipment, rent deposit and leasehold improvements, with total liabilities and equity of PHP 497,000 consisting of notes payable of PHP 150,000 and capital of PHP 347,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Playnet.

    com
    Journal Entries

    March 2022
    Debit Credit
    01 Cash Php 350,000.00
    De Dios, Capital Php 350,000.00
    (to record cash capital of Angela De Dios)
    05 Salaries Php 6,000.00
    Cash Php 6,000.00
    (to record cash payments for salaries)
    10 Rent Php 10,000.00
    Cash Php 10,000.00
    (to record rent payments)
    15 Property, Land and Equipment Php 15,000.00
    Cash Php 15,000.00
    (to record payments for building materials for renovation)
    20 Supplies Php 1,500.00
    Cash Php 1,500.00
    (to record payments for supplies)
    25 Office Equipments Php 300,000.00
    Cash Php 150,000.00
    Notes Payable Php 150,000.00
    (to record payments for the offcie supplies purchased)
    Php 682,500.00 Php 682,500.00
    Cash Supplies Rent Deposit
    01 Php 350,000.00
    05 Php (3,000.00)
    10 Php (10,000.00) Php 10,000.00
    15 Php (68,000.00)
    20 Php (1,500.00) Php 1,500.00
    25 Php (150,000.00)
    Php 117,500.00 Php 1,500.00 Php 10,000.00

    Playnet.com
    Statement of Financial Position
    March 2022

    Assets
    Cash
    Supplies
    Furniture and Fixtures
    Equipment
    Rent Deposit
    Leasehold Improvement
    Total Assets
    Liabilities and Equity
    Notes Payable
    De Dios, Capital
    Total Liabilities
    Furniture and Leasehold
    Fixtures Equipment Improvement Notes Payable

    Php 8,000.00 Php 45,000.00 Php 15,000.00

    Php 300,000.00 Php 150,000.00


    Php 8,000.00 Php 345,000.00 Php 15,000.00 Php 150,000.00

    et.com
    nancial Position
    h 2022

    sets
    Php 117,500.00
    Php 1,500.00
    Php 8,000.00
    Php 345,000.00
    Php 10,000.00
    Php 15,000.00
    Php 497,000.00
    and Equity
    Php 150,000.00
    Php 347,000.00
    Php 497,000.00
    De Dios, Capital
    Php 350,000.00
    Php (3,000.00)

    Php 347,000.00

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