Instruction: Use Journal Sheet (Yellow or White) for the Performance Tasks Performance Task No. 1- On Mar. 1, 2009, Samuel Barbo, a recent medical board topnotcher, started his medical practice. During the month of March, the following transactions were completed. Mar. 1 Barbo invested P42,500 personal funds in a new bank account in the name of Samuel Barbo, M.D. Acquired medical equipment costing P95,000 from Tambilo Medical Equipment Company, paying P15,000 cash, and financing the remainder issuing a P80,000 note payable. Paid rent for the month of March, P7,500. Acquired Medical Supplies from Suiza Medical Supply Company on account, P15,250. Received P18,450 in cash from patients for medical services rendered this week. 2 3 7 Paid Pablo Labs for preparing laboratory work on a patient, P1,800. Paid salaries of medical technician and receptionist, P9,600. 12 15 Billed patients P51,700 for services rendered. 17 Paid Suiza Medical Supply Company P3,750 on account. Paid telephone…

. (Learning Objective 5: Make closing entries and calculate net income) The adjustedtrial balance of Amana Corporation at December 31 shows that sales revenue for the year was$513,000 and other revenue was $37,000. Cost of goods sold for that same period was $256,000,while other expenses totaled $185,000. The corporation declared and paid dividends of $12,000during the year. The balance of retained earnings before closing entries was $457,000.1. Prepare the closing entries for revenues, expenses, and dividends for the year.2. What was net income for the year?3. What is the ending balance of retained earnings after the closing entries are posted?

While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Purchase Date October 30, Year 1 October 30, Year 1 October 30, Year 1 October 30, Year 1 Basis $16,200 10,000 5,400 19,160 Year 1 Asseta Computers (5-year) office equipment (7-year) Furniture (7-year) Start-up costa In April of year 2, they decided to purchase a customer list from a company providing virtually the same services, started by fellow Information systems students preparing to graduate. The customer list cost $12,160, and the sale was completed on April 30. During their summer break, Dailin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full time after graduation. In the summer, they purchased a small van (for transportation, not considered a luxury…

Roben Cruse opened the Campus Laundromat on September 1, 2020. During the first month ofoperations, the following transactions occurred. Sept.1 Roben invested $20,000 cash in the business.2 The company paid $1,000 cash for store rent for September.3 Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6-month,12% note payable.4 Paid $1,200 for a one-year accident insurance policy.10 Received a bill from the Daily News for online advertising of the opening of the laundromat $200.20 Roben withdrew $700 cash for personal use.30 The company determined that cash receipts for laundry services for the month were $6,200. Instructionsa. Journalize the September transactions.b. Open ledger accounts and post the September transactions.c. Prepare a trial balance at September 30, 2020.

(Learning Objective 1, 2, 3, 4: Measure and report current liabilities) Sea AirMarine experienced these events during the current year.a. December revenue totaled $120,000; and, in addition, Sea Air collected sales tax of 5%.The tax amount will be sent to the state of Florida early in January.b. On August 31, Sea Air signed a six-month, 6% note payable to purchase a boat costing$86,000. The note requires payment of principal and interest at maturity.c. On August 31, Sea Air received cash of $2,400 in advance for service revenue. Thisrevenue will be earned evenly over six months.d. Revenues of $850,000 were covered by Sea Air’s service warranty. At January 1,accrued warranty payable was $11,800. During the year, Sea Air recorded warrantyexpense of $34,000 and paid warranty claims of $34,500.e. Sea Air owes $90,000 on a long-term note payable. At December 31, 10% interest forthe year plus $30,000 of this principal are payable within one year.Requirement1. For each item, indicate the…

10:10 INSTRUCTION. Prepare the General Journal, T-Account, and Worksheet The following transaction occurs in February 2022 in the records of Printopia Printing Services. February 1 - Initial capital investment of PPS amounts to, P1,500,000. February 1 PPS purchase Heat Press Machine P12,500, Cutting Machine P18,500, Epson L3100 Printer P21,000, and Acer Laptop P54,000 to be used in the operation of the business. February 1 - PPS paid advance rent for 6 months. P120,000. February 2 - PPS received an order for P12,000 for shirt printing services. PPS rendered and delivered the order on the same day. Client will pay on February 15, 2022. February 4 - PPS purchase supplies to National Bookstore amounting to P 80,000. PPS paid CASH. February 4 - PPS rendered embroidery services to San Miguel Corporation. PPS billed the client, P250,000 and give 15 days' terms for the payment. February 5 - a walk-in client avail printing services. The customer paid P10,000 for the services rendered. February…

While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Year 1 Assets Purchase Date Basis Computers (5-year) October 30, Year 1 $ 15,100 Office equipment (7-year) October 30, Year 1 10,000 Furniture (7-year) October 30, Year 1 3,200 Start-up costs October 30, Year 1 17,180 In April of year 2, they decided to purchase a customer list from a company providing virtually the same services, started by fellow information systems students preparing to graduate. The customer list cost $10,180, and the sale was completed on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full time after graduation. In the summer, they purchased a small van (for transportation, not…

Bob Sample opened the Campus Laundromat on September 1, 2022. During the first month of operations, the following transactions occurred.                                                                                                                                                                                                              Sept 1 Bob invested $20,000 cash in the business.                                                                                                                                                                 Sept 2 The company paid $1,000 cash for store rent for September.                                                                                                                  Sept 3 Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6-month, 12% note payable.             Sept 10 Received a bill from the Daily News for online advertising of the opening of the laundromat $200.…

Make a Ledger in this problem        Assume that on December 2, 2020. Mr. David Started DB Accounting Firm in Tagbina with the following assets as initial investments: PARTICULARS Cash 15,000 Computers 40,000 Furniture 50,000 Supplies 10,000   December   02 The business was registered with DTI, BIR, and Mayor’s permit spending P300, P500, and P1,200, respectively. 05 Acquired printer amounting to P10,000 for cash 15 Received electricity bill used by the business, P600. 15 Acquired computer chairs and tables on account, P10,000 payable within five days 20 Issued 3 months promissory note amounting to 10,000 to settle the obligation for acquiring computer chairs 21 Mr. David withdrew P1,000 for personal use. 23 Used supplies amounting to 8,000 26 Collected P50,000 for audit service to client 28 Billed P80,000 to the client for tax consultancy performed.     29 Transportation expense incurred and paid, P2,000 30 Provided 10% allowance for depreciation for the use of office equipment and…