Instructions: a. Journalize the above transactions b. Post to ledger c. Make a trial balance On April 1, 2018, Nels Ferrer organized a business called Friendly Trucking. During April, the company entered into the following transactions: Apr 1 Nels Ferrer deposited Php500,000 cash in a bank account in the name of the business. Apr 1 Purchased for Php250,000 a transportation equipment to be use in the business. Nels paid 50% as down payment while the balance will be paid on May 15, 2016 Apr 1 Paid rental for the month of April, Php5,000 Apr 5 Earned and collected trucking income from Ryan, Php8,000 Apr 8 Earned trucking income from Jesper, Php30,000 on account. Jesper will pay on May 8, 2016 Apr 10 Paid salaries of drivers, Php10,000 Apr 15 Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on that date and the balance on April 20 Apr 18 Paid electric bills for the month, Php2,000 Apr 20 Collected from Joshua the balance of his April 15 account Apr 25 Purchased office supplies, Php2,300 Apr 29 Earned and collected trucking income from Jay, Php18,000

Instructions: a. Journalize the above transactions b. Post to ledger c. Make a trial balance On April 1, 2018, Nels Ferrer organized a business called Friendly Trucking. During April, the company entered into the following transactions: Apr 1 Nels Ferrer deposited Php500,000 cash in a bank account in the name of the business. Apr 1 Purchased for Php250,000 a transportation equipment to be use in the business. Nels paid 50% as down payment while the balance will be paid on May 15, 2016 Apr 1 Paid rental for the month of April, Php5,000 Apr 5 Earned and collected trucking income from Ryan, Php8,000 Apr 8 Earned trucking income from Jesper, Php30,000 on account. Jesper will pay on May 8, 2016 Apr 10 Paid salaries of drivers, Php10,000 Apr 15 Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on that date and the balance on April 20 Apr 18 Paid electric bills for the month, Php2,000 Apr 20 Collected from Joshua the balance of his April 15 account Apr 25 Purchased office supplies, Php2,300 Apr 29 Earned and collected trucking income from Jay, Php18,000

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 6.5APR: Multiple-step income statement and report form of balance sheet The following selected accounts and...

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