A. Required (PLEASE SHOW WORK)
1. Journalize the transactions in a two-column journal.
2. Post the transactions to their respective ledger accounts.
3. Answer the following.
a. Total assets__________
b. Total liabilities_______
c. Total owners equity__________
Given
Oct. 1 Jhon Ventura invested P250,000 in an account entitled Global Services. The deposit slip was number 54321.
Oct. 3 Invested equipment with an appraised value of P135,000. The appraisal sheet was numbered 10-07-2009.
Oct. 5 Purchased P50,000 worth of equipment by issuing check #012345.
Oct.8 Purchased P15,000 worth of equipment on account from ABC Suppliers. The invoice number was #56789.
Oct. 16 Purchased P65,000 worth of equipment from XYZ Supply Co. Check # 1010 was issued in the amount of P20,000 as a down payment. Their invoice number was A3344.
Oct. 18 Provided P48,000 worth of services to a cash customer. The billing slip number was 214.
Oct. 20 Provided P90,000 worth of services to a charge customer . The billing slip number was 215
Oct. 25 Provided P100,000 worth of services to a customer,collecting 65% in cash. The billing slip number was 216.
Oct. 30 Provided 2% depreciation allowance for all of the equipment.
Oct. Due to ansatisfactory performance , Jhon sold equipment acquired on October 5 for P50,000.