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Exercise No. 1 Accounting
Exercise No. 1 Accounting
3 Acquired a service vehicle costing P80,000. Paid P50,000 cash and signed a
Cr Cash 50
Cr Np. 30
m
er as
Ans: Dr painting supplies, cr A
co
eH w
5 Completed a painting job and billed the customer P4,800
o.
rs e
Dr Accounts Receivable, Cr Painting revenue
ou urc
7 Received P1,500 cash for painting an apartment room
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18 Paid for the painting supplies purchased on April 4
20 Purchased a new ladder for P6,000 and painting supplies for P2,900, on
account
m
er as
REQUIREMENT:
co
eH w
Record the transactions in general journal using the following account titles are : Cash,
o.
rs e
Accounts Receivable, Painting Supplies, Prepaid Insurance, Painting Equipment, Service
ou urc
Vehicle, Notes Payable, Accounts Payable, Virtudazo Capital, Virtudazo Withdrawals, Painting
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