The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement
The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...
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