WebView full document. See Page 1. Activity 3 State the value received and value parted with in the following transactions: 1. Bought equipment from E and E Trading on credit, P 15,000. 2. Purchased from NBS Bookstore office supplies worth P 1,000 cash. 3. Billed XYZ Corp. for P 12,000 for legal services rendered. 4. WebILLUSTRATION • Transaction 1 • Oct. 1 – Mr. Gil opened a motor repair shop and invested P100,000 cash. A = L + P Cash P100,000 = 0 + Gil, Capital P100,000. Analysis: The asset, cash, is increased by P100,000. The proprietorship account is also increased by P100,000 2. Oct. 3 - He purchased repair supplies worth P25,000 on credit from De ...
Answered: October 1 - Invested P250,000 to start… bartleby
Web9. Purchased additional repair supplies P670 cash 10. Completed repair work for A. Martinez on credit, P9,800. 11. Paid the salary of the shop assistant, P2,500. 12. Paid … WebDate Account Name/Explanation P.R Debit Credit Sept. 3 Cash x 35,000 Repair Equipment x 15,000 W. Madison, Capital x 50,000 5 Office Supplies x 3,900 Cash x 3,900 8 Prepaid Insurance x 7,200 Cash x 7,200 10 Repair Equipment x 5,000 Accounts Payable x 5,000 12 Cash x 10,800 Repair Service Revenue x 10,800 15 Accounts Payable x 2,500 Cash x 2,500 grand havana barcelona
Paid cash for supplies journal entry Example - Accountinguide
WebJun 30, 2024 · On July 1, 2024, Paul Brite started a TV repair business. July 1 He invested P50,000 in cash to start his business. 3 Purchased for cash shop supplies costing … WebJune 1 – Peter made the following investment: Cash – P200,000; Shop equipment – P300,000. 2 - Purchased shop supplies ... Collected the account on June 4. 12 – Received cash for services rendered, P3, 14 -Paid the electric bill, P4,500. 14 – Paid the weekly salary of mechanic. 16 – Bought shop supplies for cash, P2,500. 19 ... WebFeb 26, 2024 · 9. Purchased additional repair supplies P 670 cash. 10. Completed repair work for A. Martinez on credit, P9,800. 11. Paid the salary of the shop assistant, P2,500. 12. Paid P5,000 for the shop space. 13. Withdrew P 5,000 cash for personal use. 14. Collected the account due from A. Martinez. 15. Received in full the account due from V. Serna. Pa ... grand havana coffee stock