Mar-01 May Gomez opened a tour and travel service by contributing cash of P50,000.

She has three

cars worth P1,200,000 but contributed only two cars worth P750,000.
3 Gomez borrowed P100,000 cash from PNB for use in her business
7 Bought tables and chairs from Blim’s and paid cash of P45,000
15 Various equipment were purchased on account from National Winners for P55,000
18 Gomez made cash withdrawal of P5,000 for personal use
20 The account due to National Winners was paid in cash
00
 Asset Liabilities Equity
Furniture & Accounts Loans Gomez, (Gomez,
Cash Cars Equipment
Fixtures Payable Payable Capital Drawings)
Date
Mar-01 50,000 750,000 800,000
3 100,000 100,000
7 -45,000 45,000
15 55,000 55,000
18 -5,000 5,000
20 -55,000 -55,000
Balances 45,000 750,000 55,000 45,000 0 100,000 800,000 5,000
Total 895,000 895,000
Copyclear and Bindery Center situated at Taft Avenue, Manila was set up January 2, 2018. T
owner, Susan Alegre, contributed cash of P20,000, and equipment of P48,000. The followin
the additional transactions for January:
Jan-05 Bought furniture and fixtures worth P6,000 on account
7 Bought a photocopier machine for P20,000. Terms: 50% down, balance on acc
8 Hired a helper on commission basis, based on 10% of sales, to operate the mach
10 An emergency prompted Ms. Alegre to withdraw P1,500 cash for personal use
15 Bought supplies costing P3,000 and paid cash
20 The account of January 5 is due. Ms. Alegre paid this from her personal cash
30 The account of January 7 is due. Issued a 60-day promissory note for this
a was set up January 2, 2018. The
ment of P48,000. The following are

ccount
ms: 50% down, balance on account
% of sales, to operate the machine
P1,500 cash for personal use

this from her personal cash

promissory note for this
 Asset Liabilities Equity
Furniture & Accounts Notes Alegre, (Alegre,
Cash Supplies Equipment
Fixtures Payable Payable Capital Drawings)
Date
Jan-02 20,000 48,000 68,000
5 6,000 6,000
7 -10,000 20,000 10,000
10 -1,500 1,500
15 -3,000 3,000
20 -6,000 6,000
30 -10,000 10,000
Balances 5,500 3,000 68,000 6,000 0 10,000 74,000 1,500
Total 82,500 82,500