REQUIREMENTS: Journalize the transactions and post them to the T-accounts. Then prepare a chart of accounts.
On May 15, 2016 Mr. Jones open Jones Security Services. Presented below are the transactions for the month of MAY.
MAY 15 2016
Mr Jones deposited 400,000
to the Bank account of Jones Security Services
MAY 18 2016
Paid 18,000 office rent for the month
MAY 21 2016
Purchased office equipment 50,000 on account
MAY 25 2016
Paid cash for the transportation equipment 500,000 for use in the business
MAY 27 2016
Paid 25,000 as partial payment for the office equipment
MAY 31 2016
Mr. Jones withdraw 10,000 cash for personal use
please po pa help kailangan ko po ngayon ehh
Answers & Comments
Answer:
Journalize the transaction and post them to the T- accounts. Then, prepare a chart of accounts.