Angela de Dios, a business graduate student who was working in Think Computer, a company selling all kinds of computers, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 1 - Angela started an internet shop called “Playnet. com” by investing her savings of ₱ 50,000 and the proceeds from the sale of her car of ₱ 300,000 5 - Angela hired two workers to assist her in the shop. 10 - Two month rent deposit was paid in cash, ₱10,000 15 - Paid ₱15,000 for building materials to fix the shop, ₱8,000 for furniture, ₱ 45,000 for one unit of aircon and two units of electric fan. 20 - Purchased supplies for cash, ₱1,500 25 - The shop was ready for the installation of the computer units. Angela purchased 12 units of computer hardware from Think PC. She paid 50% in cash for ₱ 125,000 and a note for the balance payable in 24 monthly installments starting April 20.
Angela de Dios, a business graduate student who was working in Think Computer, a company selling all kinds of computers, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 1 - Angela started an internet shop called “Playnet. com” by investing her savings of ₱ 50,000 and the proceeds from the sale of her car of ₱ 300,000 5 - Angela hired two workers to assist her in the shop. 10 - Two month rent deposit was paid in cash, ₱10,000 15 - Paid ₱15,000 for building materials to fix the shop, ₱8,000 for furniture, ₱ 45,000 for one unit of aircon and two units of electric fan. 20 - Purchased supplies for cash, ₱1,500 25 - The shop was ready for the installation of the computer units. Angela purchased 12 units of computer hardware from Think PC. She paid 50% in cash for ₱ 125,000 and a note for the balance payable in 24 monthly installments starting April 20.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Angela de Dios, a business graduate student who was working in Think Computer, a company selling all kinds of computers, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 1 - Angela started an internet shop called “Playnet. com” by investing her savings of ₱ 50,000
and the proceeds from the sale of her car of ₱ 300,000
5 - Angela hired two workers to assist her in the shop.
10 - Two month rent deposit was paid in cash, ₱10,000
15 - Paid ₱15,000 for building materials to fix the shop, ₱8,000 for furniture, ₱ 45,000 for one
unit of aircon and two units of electric fan.
20 - Purchased supplies for cash, ₱1,500
25 - The shop was ready for the installation of the computer units. Angela purchased 12 units of computer hardware from Think PC. She paid 50% in cash for ₱ 125,000 and a note for the balance payable in 24 monthly installments starting April 20.
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