A Sushi Kiosk in the PhilippinesPESTLE (Political, Economic, Sociocultural, Technological, Legal, Environmental) analysis Identify only areas/forces with direct and significant impact on the company Startup costs (one-time payment)Business registration 5,915.00 Other legal certification requirements 500.00 Other expenses: technology /equipment needed for production Total startup cost xxxOperating costs (good for 1 year, base this on your monthly OC and just multiply it by 12)Rental Utilities Raw materials Others: marketing activities Total operating cost xxxTotal Funding Requirement xxxSources of Funds (minimum of 7 sentences)Competitor Analysis (minimum of 7 sentences)Note: Location is Philippines Davao. The currency should be the philippine peso Supplementary materials for the Performance Task: ( On or before the 2nd Mid-term Examination)Recording Transactions using special JournalsSample Problem: Recording Transactions in the Special JournalsProblem #12Journalizing, Posting and Preparing a Trial BalanceWinnie Villanueva is a painting contractor. During the month of April, she completedthe following transactions:Invested in the business painting equipment valued at P12,300 andplaced P71,000 in a business checking account.Acquired a service vehicle costing P80,000. Paid P50,000 cash andsigned a note for the balance.Purchased painting supplies on account for P3,200.Completed a painting job and billed the customer P4,800.Received P1,500 cash for painting an apartment room.Purchased painting supplies for P1,600 cash.Received a P4,800 check from the customer billed on April 5.Paid P4,000 for an insurance policy for a one-year covérage.Billed a customer P6,200 for a painting job.Paid the assistant P1,500 for twenty-five hours' work.Paid P400 for a tune-up of the service vehicle.Paid for the painting supplies purchased on April 4.Purchased a new ladder for P6,000 and painting supplies for P2,900,on account.Received a telephone bill for P600, due next month.Received P3,300 in cash from the customer billed on April 13.Transferred P3,000 to a personal checking account.Received P3,600 in cash for painting a two-room apartment.Paid P2,000 on the note signed for the service vehicle.Paid the assistant P1,800 for thirty hours' work.Apr. 241011121314151820222324252729Required:1. Prepare the journal entries to record the April transactions.2. Set-up the following ledger accounts and post all the journal entries: Cash;Accounts Receivable; Painting Supplies; Prepaid Insurance; Painting Equipment;Service Vehicle; Notes Payable; Accounts Payable; Villanueva, Capital; Villanueva,Withdrawals; Painting Revenues; Wages Expense; Utilities Expense; andMaintenance Expense.3. Prepare a trial balance.Note: Instead of Recording the transactions in the general journal, attached solutions is journalizingusing the special journals. (See separate file in excel format)

Journal Entry The purpose of preparing the journal entry to enter the required transaction into both…

Answered: Problem #12 Journalizing, Posting and…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section11.1: Accounting For Purchases Transactions Using A General Journal

Problem 1WT

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A Sushi Kiosk in the Philippines

PESTLE (Political, Economic, Sociocultural, Technological, Legal, Environmental) analysis
Identify only areas/forces with direct and significant impact on the company

*Startup costs* (one-time payment)
Business registration	5,915.00
Other legal certification requirements	500.00
Other expenses: technology /equipment needed for production
Total startup cost		xxx
*Operating costs* (good for 1 year, base this on your monthly OC and just multiply it by 12)
Rental
Utilities
Raw materials
Others: marketing activities
Total operating cost		xxx
Total Funding Requirement		xxx

Sources of Funds (minimum of 7 sentences)
Competitor Analysis (minimum of 7 sentences)

Note: Location is Philippines Davao. The currency should be the philippine peso

Supplementary materials for the Performance Task: ( On or before the 2nd Mid-term Examination)
Recording Transactions using special Journals
Sample Problem: Recording Transactions in the Special Journals
Problem #12
Journalizing, Posting and Preparing a Trial Balance
Winnie Villanueva is a painting contractor. During the month of April, she completed
the following transactions:
Invested in the business painting equipment valued at P12,300 and
placed P71,000 in a business checking account.
Acquired a service vehicle costing P80,000. Paid P50,000 cash and
signed a note for the balance.
Purchased painting supplies on account for P3,200.
Completed a painting job and billed the customer P4,800.
Received P1,500 cash for painting an apartment room.
Purchased painting supplies for P1,600 cash.
Received a P4,800 check from the customer billed on April 5.
Paid P4,000 for an insurance policy for a one-year covérage.
Billed a customer P6,200 for a painting job.
Paid the assistant P1,500 for twenty-five hours' work.
Paid P400 for a tune-up of the service vehicle.
Paid for the painting supplies purchased on April 4.
Purchased a new ladder for P6,000 and painting supplies for P2,900,
on account.
Received a telephone bill for P600, due next month.
Received P3,300 in cash from the customer billed on April 13.
Transferred P3,000 to a personal checking account.
Received P3,600 in cash for painting a two-room apartment.
Paid P2,000 on the note signed for the service vehicle.
Paid the assistant P1,800 for thirty hours' work.
Apr. 2
4
10
11
12
13
14
15
18
20
22
23
24
25
27
29
Required:
1. Prepare the journal entries to record the April transactions.
2. Set-up the following ledger accounts and post all the journal entries: Cash;
Accounts Receivable; Painting Supplies; Prepaid Insurance; Painting Equipment;
Service Vehicle; Notes Payable; Accounts Payable; Villanueva, Capital; Villanueva,
Withdrawals; Painting Revenues; Wages Expense; Utilities Expense; and
Maintenance Expense.
3. Prepare a trial balance.
Note: Instead of Recording the transactions in the general journal, attached solutions is journalizing
using the special journals. (See separate file in excel format)

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