jdc-cpa
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Accounting Cycle for Service Business: Workbook M.A. Perez Juan Dela Cruz started his accounting office, Juan Dela Cruz, CPA on July 1, 2012. The following are the transactions of his accounting office during its first month of operations: July 1 Juan Dela Cruz starts his accounting firm by investing P100,000. 3 Purchased office supplies for cash, P6,750. 4 Purchased office equipment on account for P62,500. 5 Paid the monthly rent for a furnished office condominium unit, P12,000. 7 Received P15,000 for services rendered. 9 Charged Mr. Alegre a client P12,000 for services rendered. 10 Received a 60-day, 10% note from Mr. Alegre in settlement of his account. 11 Charged a client for services rendered, P9,200. 13 Received P8,000 for services rendered. 15 Paid employees’ salaries, P7,800. 17 Paid half of the account due on the equipment purchased on the fourth. 20 Collected 50% of the account charged to a client on July 11. 22 Charged customers P5,000 for services rendered. 27 Received P12,000 for services rendered. 28 Paid the monthly telephone bill,P960. 31 Paid employees’ salaries, P7,800. 31 Oscar Ramos withdrew P10,000 for personal use. STEP1: Analyze business transactions. DEBIT-CREDIT ANALYSIS Specific Account Type of Account Increas e or Decreas e Debit or Credi t Specific Account Type of Account Increas e or Decreas e Debit or Credi t
Transcript of jdc-cpa
Accounting Cycle for Service Business: WorkbookM.A. PerezJuan Dela Cruz started his accounting office, Juan Dela Cruz, CPA on July 1, 2012. The following are the transactions of his accounting office during its first month of operations: July1Juan Dela Cruz starts his accounting firm by investing P100,000.3Purchased office supplies for cash, P6,750.4Purchased office equipment on account for P62,500.5Paid the monthly rent for a furnished office condominium unit, P12,000.7Received P15,000 for services rendered.9Charged Mr. Alegre a client P12,000 for services rendered.10Received a 60-day, 10% note from Mr. Alegre in settlement of his account.11Charged a client for services rendered, P9,200.13Received P8,000 for services rendered.15Paid employees salaries, P7,800.17Paid half of the account due on the equipment purchased on the fourth.20Collected 50% of the account charged to a client on July 11.22Charged customers P5,000 for services rendered.27Received P12,000 for services rendered.28Paid the monthly telephone bill,P960.31Paid employees salaries, P7,800.31Oscar Ramos withdrew P10,000 for personal use.STEP1: Analyze business transactions. DEBIT-CREDIT ANALYSISSpecific AccountType of AccountIncrease or DecreaseDebit or Credit
Specific AccountType of AccountIncrease or DecreaseDebit or Credit
