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Problem #12 Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Benairs Specialist. On Jan. 1, 2022, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; Accounts Receivable, P4,000; Supplies, P5,000; Equipment, P60.000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Calamba, Capital Accounts Accounts Payable Cash Receivable Supplies Equipment + + Jan. 1 P85,000 P9,000 P60,000 %3D Balance P25,000 P4,000 P5,000 + a. b. C. d. е. f. g. h, i. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). а. b. C. Returned a defective piece of equipment that was purchased last month and d. received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. Paid creditor P2,000 on account (part payment). Purchased equipment for P10,000, giving P2,000 cash and promising to pay th balance in 60 days. Bought supplies, paying P1,650 cash. Received a P2,500 check from customer on account. Pquired: Record the transactions using a financial transaction worksheet

Problem #12 Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Benairs Specialist. On Jan. 1, 2022, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; Accounts Receivable, P4,000; Supplies, P5,000; Equipment, P60.000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Calamba, Capital Accounts Accounts Payable Cash Receivable Supplies Equipment + + Jan. 1 P85,000 P9,000 P60,000 %3D Balance P25,000 P4,000 P5,000 + a. b. C. d. е. f. g. h, i. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). а. b. C. Returned a defective piece of equipment that was purchased last month and d. received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. Paid creditor P2,000 on account (part payment). Purchased equipment for P10,000, giving P2,000 cash and promising to pay th balance in 60 days. Bought supplies, paying P1,650 cash. Received a P2,500 check from customer on account. Pquired: Record the transactions using a financial transaction worksheet

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter2: The Accounting Information System
Section: Chapter Questions
Problem 56APSA: Problem 2-56A Analyzing Transactions Luis Madero, after working for several years with a large...
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Problem #12 Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Benairs Specialist. On Jan. 1, 2022, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; ACCounts Receivable, P4,000; Supplies, P5,000; Equipment, P60.000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Calamba, Capital Accounts Accounts Payable Cash Receivable Supplies Equipment Jan. 1 P85,000 P60,000 P9,000 Balance P25,000 P4,000 P5,000 + a. b. С. d. е. f. g. h, i. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). Returned a defective piece of equipment that was purchased last month and received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. Paid creditor P2,000 on account (part payment). а. b. С. d. е. f. Purchased equipment for P10,000, giving P2,000 cash and promising to pay the g. balance in 60 days. h. Bought supplies, paying P1,650 cash. i. Received a P2,500 check from customer on account. Required: Record the transactions using a financial transaction worksheet
Transcribed Image Text:Problem #12 Recording Transactions in a Financial Transaction Worksheet Stephanie Calamba is the owner of the Calamba Benairs Specialist. On Jan. 1, 2022, the assets, liabilities and proprietor's capital of the business were: Cash, P25,000; ACCounts Receivable, P4,000; Supplies, P5,000; Equipment, P60.000; Accounts Payable, P9,000; Calamba, Capital, P85,000. The transactions for the month of January were as follows: Calamba, Capital Accounts Accounts Payable Cash Receivable Supplies Equipment Jan. 1 P85,000 P60,000 P9,000 Balance P25,000 P4,000 P5,000 + a. b. С. d. е. f. g. h, i. Paid P3,000 of the outstanding accounts payable. Received P1,000 on account (part payment) from customers. Purchased P2,500 worth of supplies on account (on credit). Returned a defective piece of equipment that was purchased last month and received a cash refund of P12,000. Borrowed P10,000 from a supplier, to repay the loan in 30 days. Paid creditor P2,000 on account (part payment). а. b. С. d. е. f. Purchased equipment for P10,000, giving P2,000 cash and promising to pay the g. balance in 60 days. h. Bought supplies, paying P1,650 cash. i. Received a P2,500 check from customer on account. Required: Record the transactions using a financial transaction worksheet
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