On March 30, 20XX, the company issued ordinary share capital worth of P 500,000, payment received and deposited on its GBP Bank Account 1 Dr. GBP Bank Account 1P 500,000 Cr. Ordinary Share CapitalP 500,000 On April 15 , 20XX, the company recorded a Salary Expense worth of P 250,000, paid for through the company’s GBP Bank Account 1. Dr. Salaries and WagesP 250,000 Cr. GBP Bank Account 1P 250,000 On April 10,20XX, the company will pay a total of P 15,000 from the Petty Cash fund for transportation related expenses. This transaction is still subject to supervisor’s approval. Dr. Travel Costs – OtherP 15,000 Cr. Petty Cash FundP 15,000 1. GENERATE THE GENERAL LEDGER AS OF THE DATE OF THE LATEST TRANSACTION . 2. GENERATE THE BALANCE SHEET AS OF THE END OF THE YEAR 3. GENERATE THE INCOME STATEMENT AS OF THE END OF THE YEAR
On March 30, 20XX, the company issued ordinary share capital worth of P 500,000, payment received and deposited on its GBP Bank Account 1
Dr. GBP Bank Account 1P 500,000
Cr. Ordinary Share CapitalP 500,000
On April 15 , 20XX, the company recorded a Salary Expense worth of P 250,000, paid for through the company’s GBP Bank Account 1.
Dr. Salaries and WagesP 250,000
Cr. GBP Bank Account 1P 250,000
On April 10,20XX, the company will pay a total of P 15,000 from the Petty Cash fund for transportation related expenses. This transaction is still subject to supervisor’s approval. Dr. Travel Costs – OtherP 15,000
Cr. Petty Cash FundP 15,000
1. GENERATE THE GENERAL LEDGER AS OF THE DATE OF THE LATEST TRANSACTION .
2. GENERATE THE BALANCE SHEET AS OF THE END OF THE YEAR
3. GENERATE THE INCOME STATEMENT AS OF THE END OF THE YEAR
4. PERFORM PERIOD END CLOSING FOR THE YEAR 20XX
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