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    Chapter 4 PROBLEMS

    Uploaded by

    Shaila Marcelo
    Sue Feria opened a travel agency business in April 2019. In May, the agency received payments from clients for services like processing documents and purchasing airline tickets, totaling P81,500. Expenses during the month included supplies, salaries, rent, and payments to various companies, totaling P78,750. The agency also purchased a photocopying machine costing P15,000 by paying half up front.

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    Chapter 4 PROBLEMS

    Uploaded by

    Shaila Marcelo
    707 views1 page
    Sue Feria opened a travel agency business in April 2019. In May, the agency received payments from clients for services like processing documents and purchasing airline tickets, totaling P81,500. Expenses during the month included supplies, salaries, rent, and payments to various companies, totaling P78,750. The agency also purchased a photocopying machine costing P15,000 by paying half up front.

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    Sue Feria opened a travel agency business in April 2019. In May, the agency received payments from clients for services like processing documents and purchasing airline tickets, totaling P81,500. Expenses during the month included supplies, salaries, rent, and payments to various companies, totaling P78,750. The agency also purchased a photocopying machine costing P15,000 by paying half up front.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    707 views1 page

    Chapter 4 PROBLEMS

    Uploaded by

    Shaila Marcelo
    Sue Feria opened a travel agency business in April 2019. In May, the agency received payments from clients for services like processing documents and purchasing airline tickets, totaling P81,500. Expenses during the month included supplies, salaries, rent, and payments to various companies, totaling P78,750. The agency also purchased a photocopying machine costing P15,000 by paying half up front.

    Copyright:

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

    Sue Feria opened a travel agency business on April 5, 2019.

    A month after she was able to comply with


    the legal
    requirements and documents, the business started operation. The following balances were taken on April
    30, 2019:

    The following transactions took pplace during the month of May:

    2 Received P45,000 from the office of Pagcor for the processing of their documents with the DFA.
      (Use the account title - Processing fees)
    2 Received from various airlines companies commission for ticket purchased for clients, P28,000.
    5 Paid P10,000 to BDO.
    8 Paid for supplies bought, P7,250.
    1
    0 Received P8,000 commissiom from airline companies for tickets purchased for clients.
    1
    1 Bought a photocopying machine for P15,000 by paying 50% in cash, the balance on account.
    1
    4 Collected service fees of P5,000 from clients for processing of visa andd passport.
    1
    5 Paid cash for salaries, P15,000.
    1
    8 Billed Moyses Company P12,000 for processing of visa and passport of their officers.
    2
    0 Mr. and Mrs. Smith paid P1,000 for the processing of their papers.
    2
    4 Paid P5,000 of the account due to Ros.
    2
    5 Moyses Company paid 50% of their account.
    2
    7 Billed PAL P3,500 for commissions accruing on tickets purchased.
    2
    8 Bills were received from the following: PLDT, P3,500 and Meralco, P5,500.
    2
    9 Receipts from various clients for services rendered: from tourist and immigrants,
      P4,500 and airline companies, P7,500.
    3
    0 Paid cash P7,500 for rent and P15,000 salaries.
    3
    1 Supplies used up, P3,500

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