Directions: Record the transactions directly into the T-accounts. The transaction: are independent from one another. Write your answers on a separate sheet of paper. Use the following account titles: Cash Owner's Withdrawals | Accounts Receivable Office Equipment Office Furiture Accounts Payable Owner's Capital Professional Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense a. The owner deposired P280,000 in the name of his business. b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, paying P1,000 in cash and the balance on account. c. He bought chairs and tables for the office for P12,300 cash. He purchased furniture from Orion Company for P2,750 in cash. He received and paid the telephone bill from Ph Telecom amounting to P1,080. 15
Directions: Record the transactions directly into the T-accounts. The transaction: are independent from one another. Write your answers on a separate sheet of paper. Use the following account titles: Cash Owner's Withdrawals | Accounts Receivable Office Equipment Office Furiture Accounts Payable Owner's Capital Professional Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense a. The owner deposired P280,000 in the name of his business. b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, paying P1,000 in cash and the balance on account. c. He bought chairs and tables for the office for P12,300 cash. He purchased furniture from Orion Company for P2,750 in cash. He received and paid the telephone bill from Ph Telecom amounting to P1,080. 15
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section2.1: Using T Accounts
Problem 1OYO
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