Natividad Silario opened another branch of her Dig and Dig Store in the next city and soonfound the same level of warm reception from customers who flocked to her new branch.She continued selling previously owned and previously love blankets, duvets, bedsheets, andpillowcases from her supplier. She followed the business model of her first store, but she also diversifiedher line of goods for sale. The new branch also sells baby clothes; fabric bags; and clothes for men,women, and children ranging from sportswear and casual wear to some party wear and wedding attires forthe entire wedding entourage. In a short time of operating the new branch of her store, it has become thego-to place for needed apparels for all occasions.Natividad registered the store with the local government and obtained all the necessarypermits including the mayor's permit and the BIR, DTI, and sanitation permits. She also plans to expandher business in adjacent cities and municipalities. She hired you as her accountant and requested you togive her the financial status of the business.How will you record and post the following transactions for June 2019?Cash on HandP6 500.00Cash in BankP65 000.00Purchases (including P25 000.00 computer)P225 000.00Sales – First branchP185 000.00Sales – Second branchP145 985.00Rent – First branchP10 000.00Rent – Second branchP8 000.00Utilities – First branchP2 000.00Utilities – Second branchP2 355.00Payroll – First branchP10 000.00Payroll – Second branchP8 500.00Accounts Receivable – First branchP48 575.00Accounts Receivable - Second branchP16 592.001. Prepare the trial balance as of 30 June 2019.

Trial balance is the summary form of financial statement prepared after balancing all the general…

Answered: 1. Prepare the trial balance as of 30…

Business

Accounting

1. Prepare the trial balance as of 30 June 2019.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 17E

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