Make a statement of financial position. Save On Repair ShopJune 2000June 1 Mr. Reyes invested cash P235,000 in the business.3458910111215Bought supplies, P13,500 for cash and equipment, P15,600 on account.Performed services to a customer for cash, P12,500.Rendered services on credit, P13,520.Billed customers, P5,550.Paid telephone, P1,100; electricity, P2,350; salaries, P9,600; and water, P2,100.Received a cash payment of P3,000 from June 5 customer.Purchased furniture and fixtures, P14,500 on account with an initial down payment of 15%.Withdrew cash worth P3,500 for personal use.Mr. Reyes paid his creditors, P5,000.Owner's Fquity (2 pts)

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Description: Make a statement of financial position. Save On Repair ShopJune 2000June 1 Mr. Reyes invested cash P235,000 in the business.3458910111215Bought supplies, P13,500 for cash and equipment, P15,600 on account.Performed services to a customer for cash, P1

Balance Sheet: Assets, liabilities, equity capital, total debt, and other financial information are…

Business

Finance

Save On Repair Shop June 2000 June 1 Mr. Reyes invested cash P235,000 in the business. 3 Bought supplies, P13,500 for cash and equipment, P15,E Performed services to a customer for cash, P12,500. Rendered services on credit, P13,520. 4 5 8 Billed customers, P5,550. 9 10 11 Paid telephone, P1,100; electricity, P2,350; salaries, P9, Received a cash payment of P3,000 from June 5 custom Purchased furniture and fixtures, P14,500 on account w Withdrew cash worth P3,500 for personal use. Mr. Reyes paid his creditors, P5,000. 12 15

Save On Repair Shop June 2000 June 1 Mr. Reyes invested cash P235,000 in the business. 3 Bought supplies, P13,500 for cash and equipment, P15,E Performed services to a customer for cash, P12,500. Rendered services on credit, P13,520. 4 5 8 Billed customers, P5,550. 9 10 11 Paid telephone, P1,100; electricity, P2,350; salaries, P9, Received a cash payment of P3,000 from June 5 custom Purchased furniture and fixtures, P14,500 on account w Withdrew cash worth P3,500 for personal use. Mr. Reyes paid his creditors, P5,000. 12 15

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter5: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 6CE

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