On October 01 2021, Gina Jose opened Self-Service Laundry. During October, the following transactions were completed; use the following account title Cash Accounts Payable Supplies Expense Accounts Receivable Jose, Capital Rent Expense Prepaid Insurance Jose, Withdrawals Utilities Expense Equipment Laundry Revenues Miscellaneous Expense Furniture and Fixture Salaries Expense Oct. 01- G. Jose Deposited 250,000 in a bank account in the name of the business. 02- Bought chairs and table paying cash 6,700 03- Bought Laundry supplies on account, from Subic Supply Inc., 3,250 06- Paid Rent for the month, 5,750 09- Bought washing machines and dryers from Bulacan Equipment Corp. 115,000 paying 35,000 in cash and the balance on account. 12- Revenues earned on cash basis for the first half of the month, 19,250 13- Bought insurance for one year-5,600 14-Paid accounts to Bulacan Equipment Corp. -7,000 16- Received and paid electric bill, 2,800 17- Revenues earned on cash basis for the second half of the month, 12,350 18-Paid salaries on the part time assistant, 7,400 Requirements: 1. Journalize the given business transactions 2. Prepare the T-accounts 3. Prepare Trial Balance

On October 01 2021, Gina Jose opened Self-Service Laundry. During October, the following transactions were completed; use the following account title Cash Accounts Payable Supplies Expense Accounts Receivable Jose, Capital Rent Expense Prepaid Insurance Jose, Withdrawals Utilities Expense Equipment Laundry Revenues Miscellaneous Expense Furniture and Fixture Salaries Expense Oct. 01- G. Jose Deposited 250,000 in a bank account in the name of the business. 02- Bought chairs and table paying cash 6,700 03- Bought Laundry supplies on account, from Subic Supply Inc., 3,250 06- Paid Rent for the month, 5,750 09- Bought washing machines and dryers from Bulacan Equipment Corp. 115,000 paying 35,000 in cash and the balance on account. 12- Revenues earned on cash basis for the first half of the month, 19,250 13- Bought insurance for one year-5,600 14-Paid accounts to Bulacan Equipment Corp. -7,000 16- Received and paid electric bill, 2,800 17- Revenues earned on cash basis for the second half of the month, 12,350 18-Paid salaries on the part time assistant, 7,400 Requirements: 1. Journalize the given business transactions 2. Prepare the T-accounts 3. Prepare Trial Balance

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.5C

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