212 salaries payable Expenses 511 salaries expense 512 advertising expense 513 rent expense 514 office supplies expense 515 Depreciation Expense-Office equipment The business transactions for January, 2020 follow: Jan. 1 Wilson invested P500,000 cash and P100,000 of office equipment to open Team Payaman Company. 1 paid rent for three months in advance, P30,000. 4 Purchased office equipment on account, P15,000. 8 Bought office supplies for cash, P4,000. 10 Collected P90,000 for service rendered. 12 Wilson paid his home electric bill from the company checkbook, P2,000. 14 Provided P10,000 worth of services to clients who will not pay till next month. 16 Paid salaries, P16,000. 18 Advertising bill received for P17,000 but will not be paid until next month.
212 salaries payable Expenses 511 salaries expense 512 advertising expense 513 rent expense 514 office supplies expense 515 Depreciation Expense-Office equipment The business transactions for January, 2020 follow: Jan. 1 Wilson invested P500,000 cash and P100,000 of office equipment to open Team Payaman Company. 1 paid rent for three months in advance, P30,000. 4 Purchased office equipment on account, P15,000. 8 Bought office supplies for cash, P4,000. 10 Collected P90,000 for service rendered. 12 Wilson paid his home electric bill from the company checkbook, P2,000. 14 Provided P10,000 worth of services to clients who will not pay till next month. 16 Paid salaries, P16,000. 18 Advertising bill received for P17,000 but will not be paid until next month.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter4: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 9E: Determine on which financial statement each account listed below is reported. Use the following...
Related questions
Question
Prepare the Journal
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning