2. On Jan. 3, 2018, ABC Company showed a cash balance of P320,000 and incurred the following: 2018 Transactions Jan. 10 Feb 1 Made additional capital investment, P200,000 worth of computer. Purchased tables and chairs amounting to P50,000, paid P25000 cash and th balance on account. Mar 15 April 31 May 1 balances Received proceeds from a bank loan amounting to P455,000. Mr. A withdrew P38,500 cash for personal use. Received from all account customers P228,000 payment on their account Paid 25% of Mar 15 bank loan plus P15,500 interest Received P420,000 advance payment from DEF Inc. for services to be rende in the future. Sold steel cabinet with a book value of P40,000 for P35,000 Paid P74,000 expenses incurred in rendering consulting services. June 15 Aug 31 Sept 31 Dec 28 ompute for the following: (Show computations) 4. Cash balance at the end of the period

2. On Jan. 3, 2018, ABC Company showed a cash balance of P320,000 and incurred the following: 2018 Transactions Jan. 10 Feb 1 Made additional capital investment, P200,000 worth of computer. Purchased tables and chairs amounting to P50,000, paid P25000 cash and th balance on account. Mar 15 April 31 May 1 balances Received proceeds from a bank loan amounting to P455,000. Mr. A withdrew P38,500 cash for personal use. Received from all account customers P228,000 payment on their account Paid 25% of Mar 15 bank loan plus P15,500 interest Received P420,000 advance payment from DEF Inc. for services to be rende in the future. Sold steel cabinet with a book value of P40,000 for P35,000 Paid P74,000 expenses incurred in rendering consulting services. June 15 Aug 31 Sept 31 Dec 28 ompute for the following: (Show computations) 4. Cash balance at the end of the period

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 18EB: Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received...

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