Alvin Ted D. Raguindin is a financial consultant who recorded various financial transactions in April. He invested cash of P200,000 into the business. He paid rent of P10,000 and salaries of P12,000. He received P65,000 in consulting revenues from clients and donated P1,000 to charity.
Alvin Ted D. Raguindin is a financial consultant who recorded various financial transactions in April. He invested cash of P200,000 into the business. He paid rent of P10,000 and salaries of P12,000. He received P65,000 in consulting revenues from clients and donated P1,000 to charity.
Alvin Ted D. Raguindin is a financial consultant who recorded various financial transactions in April. He invested cash of P200,000 into the business. He paid rent of P10,000 and salaries of P12,000. He received P65,000 in consulting revenues from clients and donated P1,000 to charity.
Alvin Ted D. Raguindin is a financial consultant who recorded various financial transactions in April. He invested cash of P200,000 into the business. He paid rent of P10,000 and salaries of P12,000. He received P65,000 in consulting revenues from clients and donated P1,000 to charity.
Journalizing, Posting and Preparing a Trial Balance
Alvin Ted D. Raguindin is a financial planning consultant. Raguindin’s capital is P42,988 based on the March 31 report. He completed the following transactions during the month of April of the current year: Mar 1 Alvin Ted D. Raguindin invested cash in the business, P 200,000. 3 Paid April office rent, P 10,000. 4 Received P 25,000 from a client, Mr. Gerald D. Montero, for services rendered. 7 Received P 20,000 from Mr. Albert G. Naungayan, a client, fro services rendered. 12 Paid cash to Sta. Maria Shell Service Station and Shell Shop for gasoline purchased, P 600. 14 Paid cash to Mr. Benny B. Derige Manpower Services in payment for contractual secretarial services during the past two weeks, P 6,000. 17 Bought office supplies on account, P 2,800. 20 Paid telephone bills, P 1,000. 21 Alvin Ted D. Raguindin withdrew cash for personal use, P 11,000. 24 Donated cash to the Philippine Red Cross, P 1,000. 27 Received P 20,000 from Mr. Victor G. Sanidad, a client, for services rendered. 28 Paid cash to Mr. Benny B. Derige Manpower Services in payment for contractual secretarial services during the past two weeks P 6,000 28 Paid electric bill, P 750. 29 Made partial payment on supplies purchased on account, P 1,000. Required: 1. Prepare the journal entries for the April transaction. 2. Set up the following ledger accounts and post all the journal entries: Cash; Accounts Receivable; Office Supplies; Accounts Payable; Raguindin Capital; Raguindin Withdrawals; Consulting Revenues; Rent Expense; Salaries Expense; Utilities Expense; Gasoline Expense; and Charitable Contributions Expense. 3. Prepare a trial Balance. 4. Prepare a Financial Report for the month of April. (Income Statement, Statement of Changes in Owner’s Equity, Balance Sheet) Course Code: ABM 2
