Please provide journal entries for the following: 1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business. 2. Paid office rent for the month, P36,000. 3. Acquired computer equipment for cash, P700,000. 4. Purchased computer supplies on credit, P60,000. 5. Received payment from a client for programing done, P280,000. 6. Billed a client on completion of a programming project, P71,000. 7. Paid salaries, P80,000. 8. Received a partial payment from the client billed, P61,000. 9. Withdrew P25,000 for personal expenses. 10. Made partial payment on the supplies purchased, P30,000
Please provide journal entries for the following: 1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business. 2. Paid office rent for the month, P36,000. 3. Acquired computer equipment for cash, P700,000. 4. Purchased computer supplies on credit, P60,000. 5. Received payment from a client for programing done, P280,000. 6. Billed a client on completion of a programming project, P71,000. 7. Paid salaries, P80,000. 8. Received a partial payment from the client billed, P61,000. 9. Withdrew P25,000 for personal expenses. 10. Made partial payment on the supplies purchased, P30,000
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 5PA: Inner Resources Company started its business on April 1, 2019. The following transactions occurred...
Related questions
Question
Please provide
1. Deposited P900,000 in the bank and contributed a systems library valued at P390,000 to start a business.
2. Paid office rent for the month, P36,000.
3. Acquired computer equipment for cash, P700,000.
4. Purchased computer supplies on credit, P60,000.
5. Received payment from a client for programing done, P280,000.
6. Billed a client on completion of a programming project, P71,000.
7. Paid salaries, P80,000.
8. Received a partial payment from the client billed, P61,000.
9. Withdrew P25,000 for personal expenses.
10. Made partial payment on the supplies purchased, P30,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT