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Tanjiro Kamado started Kamado Industrial Spray Service on April 1, 2020. During April, Kamado completed the following transactions:
a. Invested cash in the business, P60,000 b. Bought a service vehicle from CDO Motors for P112,500, paying P22,500 in cash, with the remainde due in thirty days. c. Bought Spray Equipment on account from Misamis Farm Supplies, P18,000 d. Paid rent for the month, P5,600. e. Paid cash for insurance on service vehicle for the year, P5,760. f. Received cash for spray services done on a building, P21,750. g. Bought supplies for cash, P5,730. h. Billed customers on account for services performed, P4,440. i. Paid cash for utilities, P960. j. Received bill for gasoline used by the service vehicle during the month, P3,270. k. Receipts from customers, P16,420. I. Kamado withdraw cash for personal use, P10,500 m. Paid salaries of employees, P20,400. Required: Accounting Equation, Expanded., Income Statement and Balance Sheet. Reference: Basic Financial
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Sagot :
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