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    Assignment No. 1 Double Entry System Delfino

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    Krisha Fernandez
    Theodore Calaguas established the Calaguas Sports Rehab Clinic in March 2013. Various financial transactions occurred during the month, including depositing startup capital, paying rent and supplies, performing services that generated cash and accounts receivable, settling some accounts, and withdrawing cash. The transactions were recorded in a financial worksheet to track the clinic's assets, liabilities, and owner's equity.

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    Assignment No. 1 Double Entry System Delfino

    Uploaded by

    Krisha Fernandez
    174 views2 pages
    Theodore Calaguas established the Calaguas Sports Rehab Clinic in March 2013. Various financial transactions occurred during the month, including depositing startup capital, paying rent and supplies, performing services that generated cash and accounts receivable, settling some accounts, and withdrawing cash. The transactions were recorded in a financial worksheet to track the clinic's assets, liabilities, and owner's equity.

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    assignment 111

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    Assignment_No._1_Double_Entry_System_Delfino.docx

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    Theodore Calaguas established the Calaguas Sports Rehab Clinic in March 2013. Various financial transactions occurred during the month, including depositing startup capital, paying rent and supplies, performing services that generated cash and accounts receivable, settling some accounts, and withdrawing cash. The transactions were recorded in a financial worksheet to track the clinic's assets, liabilities, and owner's equity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    174 views2 pages

    Assignment No. 1 Double Entry System Delfino

    Uploaded by

    Krisha Fernandez
    Theodore Calaguas established the Calaguas Sports Rehab Clinic in March 2013. Various financial transactions occurred during the month, including depositing startup capital, paying rent and supplies, performing services that generated cash and accounts receivable, settling some accounts, and withdrawing cash. The transactions were recorded in a financial worksheet to track the clinic's assets, liabilities, and owner's equity.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    On March 1, 2013, Theodore Calaguas, M.D. established the Calaguas Sports Rehab Clinic.

    Transactions completed during the month of March are as follows:

    a. Calaguas Deposited P 250,000 in a bank account in the name of the business.


    b. Paid rent for the month, P 11,000
    c. Bought supplies on account from Shaw Company, P 11,700.
    d. Bought professional equipment on account from Rizal Company, P 58,000
    e. Bought office equipment on account from Marikina Company, P 8,640.
    f. Performed professional services for cash, P 48,200
    g. Settled a portion of the accounts with Rizal Company, P 18,500
    h. Received and paid the bill for utilities expense, P 3,820
    i. Paid salaries of assistants, P 11,500
    j. Rendered professional services for cash, P 38,000
    k. Calaguas withdrew cash for personal use, P 16,000.

    This study source was downloaded by 100000832295101 from CourseHero.com on 08-25-2022 10:18:03 GMT -05:00
    Record the transaction for the month of March 2013 using financial transaction worksheet.

    Owner's
    Assets = Liability Equity
    Accounts Professional Accounts Calaguas,
    Cash Supplies Office Equipment
    Receivables Equipment Payable Capital
    a 250,000 250,000
    b (11,000) (11,000)
    c 11, 700 11, 700
    d 58, 000 58, 000
    e 8, 640 8, 640
    f 48,200 48,200
    g (18,500) (18, 500)
    h (3, 820) (3, 820)
    i (11,500) (11,500)
    j 38,000 38,000
    k (16,000) (16,000)
    Ending
    Balance
    Total = 189,180 86,200 11,700 8,640 58,000 78,340 275,380
    Total = 353,720 353,720

    This study source was downloaded by 100000832295101 from CourseHero.com on 08-25-2022 10:18:03 GMT -05:00
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