1. Commenced business with a Capital of PhP50,000 2. Bought Machinery for PhP10,000 cash 3. Purchased goods for PhP15,000 cash 4. Purchased goods from Antonio on credit in the amount of PhP5,000 5. Sold goods for PhP10,000 cash 6. Paid PhP2,000 to Antonio 7. Sold goods to Bonny on credit amounting to PhP3,000 8. Sold goods for PhP 6,000 in cash 9. Paid to Antonio partial payment of PhP 1,000 10. Received from Bony as partial payment in transaction #7 the amount of PhP2,000
1. Commenced business with a Capital of PhP50,000 2. Bought Machinery for PhP10,000 cash 3. Purchased goods for PhP15,000 cash 4. Purchased goods from Antonio on credit in the amount of PhP5,000 5. Sold goods for PhP10,000 cash 6. Paid PhP2,000 to Antonio 7. Sold goods to Bonny on credit amounting to PhP3,000 8. Sold goods for PhP 6,000 in cash 9. Paid to Antonio partial payment of PhP 1,000 10. Received from Bony as partial payment in transaction #7 the amount of PhP2,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter3: The Double-entry Framework
Section: Chapter Questions
Problem 6SEB: TRANSACTION ANALYSIS George Atlas started a business on June 1,20--. Analyze the following...
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