RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET
DATE
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RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET
TRANSACTION
Deposited P210,000 in the bank in the name of the business.
Bought office equipment on account from Laguna Corp., P147,000.
Invested his personal law library into the business , P57,000
Paid office rent for the month , P7,600
Bought office supplies for cash, P8,850
Paid the premium for a one-year fire insurance policy on the equipment and the library , P1,860.
Received professional fees for services rendered, P24,600.
Received and paid bill for the use of a landline, P2,280.
Paid salaries of two part time legal researchers, P9,600.
Paid car rental expense, P2,880
Received prefessional fees for services rendered, P21,200
Paid Laguna Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000.
Peralta withdrew cash for personal use, P20,750.
Total Per Account
ASSET
CASH ACCOUNTS RECEIVABLE OFFICE SUPPLIES PREPAID INSURANCE
210,000
-7,600
-8,850 8,850
-1,860 1,860
24,600
-2,280
-9,600
-2,880
21,200
-15,000
-20,750
186,980 8850 1860
LIABILITY OE
OFFICE EQUIPMENT PROFESSIONAL LIBRARY ACCOUNTS PAYABLE PERALTA CAPITAL
210,000
147,000 147,000
57,000 57,000
-7,600
24,600
-2,280
-9,600
-2,880
21,200
-15,000
-20,750
147000 57000 144120 257,570
401,690 401,690
