DRILL 1AToj oe colersM moi lfid boviooca ynOaMJournalize the following transactions of Till A Lok Consultancy for the monthof January:olu2018hebrosi asbilidail niJan. 1Mr. Lok deposited P880,000 in the account of the company. He also invested acomputer valued at P67,000.Consultancy services rendered to Mongolia Corp. on account, P 75,0003Bought P700,000 worth of transportation equipment from Mitsubishi onaccountid bovieoo7Consultancy services rendered to various clients for cash, P190,00015Consultancy services rendered to Codak Co. on account, P32,00016Paid Mitsubishi Motors in full18Collected P15,000 from Codak Co.20Received water bill, P98026Paid electricity for the month, P2,540

Journal entries recording is the first step of accounting cycle process. This is based on rules of…

000,o 08 om colersM moi llid boviooon yO M Journalize the following transactions of Till A Lok Consultancy for the month of January: Depri g solu ohupe everwo ni osna Eros ilidail ni 2018 Jan. 1 Mr. Lok deposited P 880,000 in the account of the company. He also invested a computer valued at P67,000. 2 Consultancy services rendered to Mongolia Corp. on account, P 75,000 Bought P700,000 worth of transportation equipment from Mitsubishi on account bavieos Consultancy services rendered to various clients for cash, P190,000 15 Consultancy services rendered to Codak Co. on account, P32,000 16 Paid Mitsubishi Motors in full 18 Collected P15,000 from Codak Co. 20 Received water bill, P980 2000 26 Paid electricity for the month, P2,540

000,o 08 om colersM moi llid boviooon yO M Journalize the following transactions of Till A Lok Consultancy for the month of January: Depri g solu ohupe everwo ni osna Eros ilidail ni 2018 Jan. 1 Mr. Lok deposited P 880,000 in the account of the company. He also invested a computer valued at P67,000. 2 Consultancy services rendered to Mongolia Corp. on account, P 75,000 Bought P700,000 worth of transportation equipment from Mitsubishi on account bavieos Consultancy services rendered to various clients for cash, P190,000 15 Consultancy services rendered to Codak Co. on account, P32,000 16 Paid Mitsubishi Motors in full 18 Collected P15,000 from Codak Co. 20 Received water bill, P980 2000 26 Paid electricity for the month, P2,540

Corporate Financial Accounting

15th Edition

ISBN:9781337398169

Author:Carl Warren, Jeff Jones

Publisher:Carl Warren, Jeff Jones

Chapter4: The Accounting Cycle

Section: Chapter Questions

Problem 4.4MAD: Analyze Under Armour The following year-end data were taken from recent balance sheets, of Under...

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Analyze Under Armour The following year-end data were taken from recent balance sheets, of Under Armour, Inc. (UA) (in millions): December 31 Year 2 Year 1 Current assets 1,965.2 1,498.8 Current liabilities 685.8 478.8 a. Compute the working capital and die current ratio as of December 31, Year 2 and Year 1. Round to one decimal place. b. What conclusions concerning the companys ability to meet its short-term obligations can you draw from part (a)?
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