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    PERFORMANCE TASK 1 TLE - DIMAPORO9AM - Sheet1

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    ta bs
    1. Mr. Labandero invested 500,000 pesos as initial capital for his business and hired Allan and Allie. 2. The business earned 3,000 pesos in service revenue, purchased 10,000 pesos in store supplies, and signed a 15,000 pesos contract with Sikat Hotel. 3. Expenses over the month included 50,000 pesos on store supplies, 18,000 pesos in utility bills, 15,000 pesos in salaries, 18,000 pesos withdrawn by the owner, 4,000 pesos in taxes, and 12,500 pesos on office supplies.

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    PERFORMANCE TASK 1 TLE - DIMAPORO9AM - Sheet1

    Uploaded by

    ta bs
    20 views2 pages
    1. Mr. Labandero invested 500,000 pesos as initial capital for his business and hired Allan and Allie. 2. The business earned 3,000 pesos in service revenue, purchased 10,000 pesos in store supplies, and signed a 15,000 pesos contract with Sikat Hotel. 3. Expenses over the month included 50,000 pesos on store supplies, 18,000 pesos in utility bills, 15,000 pesos in salaries, 18,000 pesos withdrawn by the owner, 4,000 pesos in taxes, and 12,500 pesos on office supplies.

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    Original Title

    PERFORMANCE TASK 1 TLE - DIMAPORO9AM - Sheet1 (1)

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    1. Mr. Labandero invested 500,000 pesos as initial capital for his business and hired Allan and Allie. 2. The business earned 3,000 pesos in service revenue, purchased 10,000 pesos in store supplies, and signed a 15,000 pesos contract with Sikat Hotel. 3. Expenses over the month included 50,000 pesos on store supplies, 18,000 pesos in utility bills, 15,000 pesos in salaries, 18,000 pesos withdrawn by the owner, 4,000 pesos in taxes, and 12,500 pesos on office supplies.

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    20 views2 pages

    PERFORMANCE TASK 1 TLE - DIMAPORO9AM - Sheet1

    Uploaded by

    ta bs
    1. Mr. Labandero invested 500,000 pesos as initial capital for his business and hired Allan and Allie. 2. The business earned 3,000 pesos in service revenue, purchased 10,000 pesos in store supplies, and signed a 15,000 pesos contract with Sikat Hotel. 3. Expenses over the month included 50,000 pesos on store supplies, 18,000 pesos in utility bills, 15,000 pesos in salaries, 18,000 pesos withdrawn by the owner, 4,000 pesos in taxes, and 12,500 pesos on office supplies.

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    of 2

    No.

    Date Journal Entry Debit Credit


    1 1/2/12 Cash 500,000.00
    Mr. Labandero Capital 500,000.00

    Initial Investment.
    2 1/3/16

    Hired Allan and Allie.


    3 1/4/16 Cash 3,000.00
    Service Revenue 3,000.00

    Collections from various customers.


    4 1/5/16 Cash 10,000.00
    Store Supplies 10,000.00

    Purchased store supplies from Labada.


    5 1/8/16

    Signed exclusive contract with Sikat Hotel.


    6 1/9/16 Accounts Recievable 15,000.00
    Unearned service revenue 15,000.00

    Sikat Hotel availed Mr. Labandero services


    7 1/12/16 Cash 50,000.00
    Store Supplies 50,000.00

    Purchased washing machine.


    8 1/19/16 Cash 18,000.00
    Utility Expense 18,000.00

    Payed electricity bills.


    9 1/20/16 Cash 15,000.00
    Accounts Recievable 15,000.00

    Recieved payment from Sikat Hotel.


    10 1/21/16 Cash 15,000.00
    Salaries Expense 15,000.00

    Paid salaries of Allan and Allie.


    11 1/22/16 Cash 18,000.00
    Mr. Laban Deryo Capital 18,000.00

    Mr. Laban Deryo withdrew for personal use.


    12 1/26/16 Cash 4,000.00
    Taxes Expense 4,000.00

    Paid taxes to the City of IloIlo.


    13 1/27/16 Cash 12,500.00
    Office Supplies 12,500.00

    Purchased office supplies.

    TOTAL: 660,500.00 660,500.00

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