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    PROBLEM General Ledger

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    qweerty
    Dindo Maputim started an auto repair shop in December, investing 150,000 pesos. On December 1st he paid 1,250.50 pesos for licenses and permits. He also bought 25,000 pesos worth of repair equipment for cash. From December 2nd to 3rd he received 10,260 pesos from repair services and bought office furniture and a computer worth 12,530 pesos each on credit.

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    PROBLEM General Ledger

    Uploaded by

    qweerty
    1K views1 page
    Dindo Maputim started an auto repair shop in December, investing 150,000 pesos. On December 1st he paid 1,250.50 pesos for licenses and permits. He also bought 25,000 pesos worth of repair equipment for cash. From December 2nd to 3rd he received 10,260 pesos from repair services and bought office furniture and a computer worth 12,530 pesos each on credit.

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    Dindo Maputim started an auto repair shop in December, investing 150,000 pesos. On December 1st he paid 1,250.50 pesos for licenses and permits. He also bought 25,000 pesos worth of repair equipment for cash. From December 2nd to 3rd he received 10,260 pesos from repair services and bought office furniture and a computer worth 12,530 pesos each on credit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    1K views1 page

    PROBLEM General Ledger

    Uploaded by

    qweerty
    Dindo Maputim started an auto repair shop in December, investing 150,000 pesos. On December 1st he paid 1,250.50 pesos for licenses and permits. He also bought 25,000 pesos worth of repair equipment for cash. From December 2nd to 3rd he received 10,260 pesos from repair services and bought office furniture and a computer worth 12,530 pesos each on credit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    PROBLEM

    The following transactions were completed by Dindo Maputim, owner and operator of Quality
    Auto Repair Shop for the month of December.

    December 1 - Maputim invested P 150,000 to start his auto repair shop business.

    1 - Paid municipal licenses and permits, P 1,250.50

    1 - Bought repair equipment costing P 25,000 for cash.

    2 - Received cash for repair service rendered, P 10,260.

    3 - Bought office tables and chairs from XOX Trading on Credit, P 12,530.

    3 - Bought computer from Borroughs, Ltd., P 12,530.

    Date Particulars PR Debit Credits


    Dec 1 Cash
    D. Maputim Capital
    Initial Investment

    Taxes and Licenses Expense


    Cash
    Payment of lincenses

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