July 30, 2021- Bello collected P21,000 from various patients who owed her money in entry#8July 31, 2021- Bello paid P10,00o for rent, P2.500 for utilities, and P15,000 for salaries of employeesJuly 31, 2021- Bello withdrew P3,000 from the business for his personal use2. Prepare the following:a) Journal Entryb) T-accountc) Trial Balanced) Balance Sheet Еxercise1. Analyze the following business transactions of Bello Clinic, a sole proprietorship. Record the transaction bythe following the rules of debits and credits.Use the following account titles: Cash, Account Receivable, Prepaid Insurance, Furniture and Fixtures, Computers,Account Payable, Notes Payable, Bello Capital, Bello Drawing. Professional Fees, Salaries Expense, Rent Expense.Utilities Expense and Organizational Expense.July 1, 2021 - Bello invested P 100,0oo into the businessJuly3. 2021 - Bello paid P 7. 500 to City Hall for business permitJuly 5, 2021 - Bello paid P10,000 for one year insuranceJuly 10, 2021- Bello purchased computer equipment amounting to P20,000 for the clinicJuly 11, 2021- Bello acquired furniture and fixture on account amounting to P15.000July 15. 2021- Bello barrowed P30.000 from the bank by signing a noteJuly 17, 2021- Bello rendered professional service to various patients and received P35.000 cashJuly 20, 2021- Bello rendered professional service to various patients. The total bill of these patients amounted toP21,000. These patients had no cash with them and promised t pay Bello on July 30, 2021

1. Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Answered: 2. Prepare the following: a) Journal…

Business

Accounting

2. Prepare the following: a) Journal Entry b) T-account c) Trial Balance d) Balance Sheet

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing

Section: Chapter Questions

Problem 8Q

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On October 1, 2019 Santana Rey launched a computer services company, business solutions that is organized as a proprietor ship and provides consulting services, computer system installations, and custom program development. create a table using the following headlines for columns cash accounts receivable computer supplies computer system office equipment accounts payable S. Ray, capital; S. Ray with draws revenues; and expenses. Then use addition and subtraction's within the table to show the dollar affects for each of the following October transactions for business solutions on the individual items of the accounting equation. Show new balances after each transaction. October. 1. S. Rey invested $45,000 cash a $20,000 computer system in an $8000 of office equipment in the company. 3. The company purchased $1420 of computer supplies on credit from Harris office products. 6. The company build easy leasing $4800 for services performed in installing a new Web server. 8. The company paid…
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