DATE TRANSACTIONS| March 1 Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen Consultancy Services. Bought P 15,000 equipment from Triple M Co. on credit. 3 6 Consultancy services...


DATE<br>TRANSACTIONS|<br>March<br>1<br>Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen<br>Consultancy Services.<br>Bought P 15,000 equipment from Triple M Co. on credit.<br>3<br>6<br>Consultancy services rendered on account P 12,000<br>Paid Triple M Co., P5,000 as partial payment of account.<br>6<br>7<br>Consultancy services rendered for cash P8,000<br>8<br>Collected P3,000 from a customer.<br>10<br>Received electric bill from Meralco P 2,800.<br>12<br>Returned P 1,500 defective equipment to Triple M Co.<br>Caleb withdrew P 9,000 from the company's bank account and deposited it to his<br>13<br>own account.<br>14<br>Paid electric bill to Meralco.<br>15<br>Caleb withdrevw P40,000 for his vacation.<br>23<br>Paid Triple M Co.,, in full.<br>Caleb deposited P 14,000 to the company's bank account.<br>24<br>28<br>Paid telephone bill for the month P9,600. This bill includes P 6,000 of Caleb's<br>personal plan.<br>A. Construct T- Accounts for the Account titles used with the Normal Balance.<br>B. Prepare the joumal entries of Kaizen Consultancy Services for the month of March,<br>2019.<br>

Extracted text: DATE TRANSACTIONS| March 1 Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen Consultancy Services. Bought P 15,000 equipment from Triple M Co. on credit. 3 6 Consultancy services rendered on account P 12,000 Paid Triple M Co., P5,000 as partial payment of account. 6 7 Consultancy services rendered for cash P8,000 8 Collected P3,000 from a customer. 10 Received electric bill from Meralco P 2,800. 12 Returned P 1,500 defective equipment to Triple M Co. Caleb withdrew P 9,000 from the company's bank account and deposited it to his 13 own account. 14 Paid electric bill to Meralco. 15 Caleb withdrevw P40,000 for his vacation. 23 Paid Triple M Co.,, in full. Caleb deposited P 14,000 to the company's bank account. 24 28 Paid telephone bill for the month P9,600. This bill includes P 6,000 of Caleb's personal plan. A. Construct T- Accounts for the Account titles used with the Normal Balance. B. Prepare the joumal entries of Kaizen Consultancy Services for the month of March, 2019.

Jun 09, 2022
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