question archive Integrating Problem (5 points, 5 points with correct formatting of journal entries)
Integrating Problem (5 points, 5 points with correct formatting of journal entries)
Subject:AccountingPrice: Bought3
Integrating Problem (5 points, 5 points with correct formatting of journal entries).
1. What is the total Debit/Credit of the transaction?
Cesar, a sole proprietor, started a business. During January 2022, the first month of operations, the following transactions occurred:
January
a. 1- Invested cash in the business, P100,000.
b. 2- Bought various office supplies for cash, P20,000.
C. 3- Loaned P50,000 from a bank for additional funds.
d. 3- Hired a worker to assist him in the business for a salary of P5,000 per month.
e. 10- Bought office furniture on account, P30,000.
f. 10- Bought an equipment worth P60,000. The company made 60% cash down payment and the balance on open account.
g 15- Invested additional cash in the business, P5,000.
h. 15- Bought another equipment worth P80,000. The company made 50% cash down payment and issued a promissory note for the balance.
i. 18- Withdrew P2,000 for personal use.
j. 20 - Paid P10,000 of the amount due in transaction (e).
k. 25 - Settled the promissory note in transaction (h) using the owner's own cash. Your answer
