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4. The June transactions of Dave Mac for Speedy Delivery Service are given below. Use the following Chart of Accounts: Current Assets - 101 to 103 101 Cash 102 Accounts Receivable 103 Office Supplies Plant and Equipment - 201 to 202 201 Office Equipment 202 Delivery Van Current Liability - 301 301 Accounts Payable Equity - 501 to 502 501 Mac, Capital 502 Mac, Drawings Revenue - 601 601 Delivery Fees Earned Expenses - 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. 3 Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike. 25 Mac withdrew P1,000 cash from for personal use. Required: a) Identify the source documents supporting the above transactions as to whether a (an):

4. The June transactions of Dave Mac for Speedy Delivery Service are given below. Use the following Chart of Accounts: Current Assets - 101 to 103 101 Cash 102 Accounts Receivable 103 Office Supplies Plant and Equipment - 201 to 202 201 Office Equipment 202 Delivery Van Current Liability - 301 301 Accounts Payable Equity - 501 to 502 501 Mac, Capital 502 Mac, Drawings Revenue - 601 601 Delivery Fees Earned Expenses - 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. 3 Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike. 25 Mac withdrew P1,000 cash from for personal use. Required: a) Identify the source documents supporting the above transactions as to whether a (an):

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section: Chapter Questions
Problem 1MP
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4. The June transactions of Dave Mac for Speedy Delivery Service are given below. Use the following Chart of Accounts: Current Assets - 101 to 103 101 Cash 102 Accounts Receivable 103 Office Supplies Plant and Equipment - 201 to 202 201 Office Equipment 202 Delivery Van Current Liability - 301 301 Accounts Payable Equity - 501 to 502 501 Mac, Capital 502 Mac, Drawings Revenue - 601 601 Delivery Fees Earned Expenses - 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike, 25 Mac withdrew P1,000 cash from for personal use. Required: a) Identify the source documents supporting the above transactions as to whether a (an):
Transcribed Image Text:4. The June transactions of Dave Mac for Speedy Delivery Service are given below. Use the following Chart of Accounts: Current Assets - 101 to 103 101 Cash 102 Accounts Receivable 103 Office Supplies Plant and Equipment - 201 to 202 201 Office Equipment 202 Delivery Van Current Liability - 301 301 Accounts Payable Equity - 501 to 502 501 Mac, Capital 502 Mac, Drawings Revenue - 601 601 Delivery Fees Earned Expenses - 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike, 25 Mac withdrew P1,000 cash from for personal use. Required: a) Identify the source documents supporting the above transactions as to whether a (an):
P 202 Delivery Van Current Liability - 301 TH 301 Accounts Payable enses 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. 3 Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike. 25 Mac withdrew P1,000 cash from for personal use. pages Required: a) Identify the source documents supporting the above transactions as to whether a (an): service invoice, official receipt, voucher of the business, invoice of supplier. b) Analyze using T Accounts, foot and extract the balances c) Prepare a trial balance. to holow summarize the ledger of Rachel's Landscaping Company at the end
Transcribed Image Text:P 202 Delivery Van Current Liability - 301 TH 301 Accounts Payable enses 701 to 702 701 Rent Expense 702 Wages Expense 703 Utilities Expense 1 Mac invested P300,000 cash to open a delivery service for the OFWs. 3 Purchased a delivery van for P300,000 from Hi Ace, 50% down, balance on credit. 5 Purchased office supplies for P3,750 cash. 10 Purchased P27,500 equipment using his own credit card, but the firm will pay for this. 12 Received P25,000 cash as fees for services provided to overseas contract workers. 15 Paid cash to settle P5,500 of the amount payable from the June 10 purchase. 15 Hired two workers for a monthly wage of P10,000 each worker. 20 Billed two customers P17,000 for services provided Jane P10,000 and Mike P7,000 22 Paid P15,000 cash for the monthly rent. 23 Collected from Mike. 25 Mac withdrew P1,000 cash from for personal use. pages Required: a) Identify the source documents supporting the above transactions as to whether a (an): service invoice, official receipt, voucher of the business, invoice of supplier. b) Analyze using T Accounts, foot and extract the balances c) Prepare a trial balance. to holow summarize the ledger of Rachel's Landscaping Company at the end
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