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    Final Accounting Part 1

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    Joaquin Jeanne Marie B.
    Chyll Maran provides catering services and their trial balance as of November 30 is provided. Additional transactions that occurred in December are listed, including collecting on accounts receivable, purchasing supplies, providing and collecting payment for services, paying accounts payable and salaries, borrowing money, and more. At the end of December, interest on a note payable, advertising costs, and depreciation on equipment had not been recorded. The document provides the trial balance and details of transactions for a catering business to prepare adjusting entries and financial statements for the month of December.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Final Accounting Part 1

    Uploaded by

    Joaquin Jeanne Marie B.
    687 views1 page
    Chyll Maran provides catering services and their trial balance as of November 30 is provided. Additional transactions that occurred in December are listed, including collecting on accounts receivable, purchasing supplies, providing and collecting payment for services, paying accounts payable and salaries, borrowing money, and more. At the end of December, interest on a note payable, advertising costs, and depreciation on equipment had not been recorded. The document provides the trial balance and details of transactions for a catering business to prepare adjusting entries and financial statements for the month of December.

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    Chyll Maran provides catering services and their trial balance as of November 30 is provided. Additional transactions that occurred in December are listed, including collecting on accounts receivable, purchasing supplies, providing and collecting payment for services, paying accounts payable and salaries, borrowing money, and more. At the end of December, interest on a note payable, advertising costs, and depreciation on equipment had not been recorded. The document provides the trial balance and details of transactions for a catering business to prepare adjusting entries and financial statements for the month of December.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    687 views1 page

    Final Accounting Part 1

    Uploaded by

    Joaquin Jeanne Marie B.
    Chyll Maran provides catering services and their trial balance as of November 30 is provided. Additional transactions that occurred in December are listed, including collecting on accounts receivable, purchasing supplies, providing and collecting payment for services, paying accounts payable and salaries, borrowing money, and more. At the end of December, interest on a note payable, advertising costs, and depreciation on equipment had not been recorded. The document provides the trial balance and details of transactions for a catering business to prepare adjusting entries and financial statements for the month of December.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Republika ng Pilipinas

    Department of Education
    Region III
    Schools Division of Bulacan
    ANGAT NATIONAL HIGH SCHOOL
    Taboc, Angat, Bulacan

    Senior High School


    FINAL EXAMINATION
    FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1
    SY 2018-2019

    Chyll Maran provides catering services with a trial balance as of November 30 as shown below
    Accounts Debits Credits
    Cash P 100,000
    Accounts Receivable 50,000
    Equipment 230,000
    Accounts Payable P 50,000
    Maran, Capital 240,000
    Maran, Drawings 20,000
    Service Fees 160,000
    Supplies Expense 50,000
    Totals P 450,000 P 450,000

    The owner provided the following information about transactions that occurred during the month of
    December.
    Date Transactions
    Dec. 1 Collected P15,000 on its account receivable.
    Dec. 2 Purchased additional supplies for P60,000.
    Dec. 4 Services were performed for a client for P30,000. Customer paid on cash.
    Dec. 5 Provided services on account for P35,000.
    Dec. 6 Paid accounts payable of P20,000.
    Dec. 8 Paid salaries of P15,000.
    Dec. 10 Paid water bill for P5,000.
    Dec. 12 Collected P25,000 of accounts receivable.
    Dec. 15 Borrowed P50,000 on a one-year note payable.
    Dec. 17 Provided services for P70,000 in cash.
    Dec. 20 Rendered services for P50,000 on account.
    Dec. 21 Paid salaries amounting to P30,000.
    Dec. 24 Paid accounts payable of P30,000.

    Additional information
    At the end of the year, the business provided the following transactions.
    Date Transactions
    Dec. 31 Under the terms of the note payable of P50,000, the interest (10%) is to be paid on
    December 15. No interest has been recorded on the note.
    Dec. 31 Advertising cost of P25,000 for December has not been recorded.
    Dec. 31 The equipment was purchased on November 1 and has a useful life of 10 years and
    no depreciation has been recorded.

    FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1


    Page 1 of 1

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