1/2/16 Invested PHP500, 000 to his business. The trade name of the business was “MR. LABANDERO” 1/3/16 Hired Allan and Allie who will manage his business 1/4/16 Collections from various customers for the day - PHP3, 000 1/5/16 Purchase store supplies from Labada Store - PHP10, 000 1/7/16 Collections from various customers for the day - PHP8, 000 1/8/16 MR. LABANDERO entered into an exclusive contract with Sikat Hotel where the business will do all the laundry of the hotel. 1/9/16 Sikat Hotel availed the services of MR. LABANDERO amounting to PHP15, 000. Payment will be made on January 20, 2016.
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Answer:
You may take help from the above attachment.
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Answer:
1/2/16 Debit (cash) 500,000
Credit (Mr. Labandero, Capital) 500,000
1/3/16 No Entry
1/4/16 Debit (Cash) 3,000
Credit (Service Revenue) 3,000
1/5/16 Debit (store supplies) 10,000
Credit (cash) 10,000
1/7/16 Debit ( cash) 8,000
Credit ( Service Revenue) 8,000
1/8/16 No Entry
1/9/16 Debit (accounts receivable) 15,000
Credit ( Service Revenues) 15,000
Analysis: based on the transaction ang nag rendered ng service ay yung company ni labandero meaning hindi si labandero ang may utang kung hindi si sikat hotel kaya nagincrease ang accounts receivable dahil hindi mo pa nakuha yung cash from them and service revenue naman nag rendered ka sa kanila kaya tumaas yung revenue ni mr. labandero.
Explantaion: I hope nakatulong ako hehehe