INMACULATA TRUCKING., INC. On April 1, 2020, Marie France organized a business called Inmaculata Trucking. Inc. During April, the company entered into the following transactions: Apr 1 Marie France deposited Php 500,000 cash in a bank account in the name of the business. Purchased for Php 250,000 a transportation equipmentto be used in the business. Marie France paid 50% as down payment while the balance will be paid on May 15, 2020 Apr 1 Аpr 1 Paid rental forthe month of April, Php 5,000 Apr 5 Earned and collected trucking income from Eva, Php 8,000 Apr 8 Earned trucking income from Julia, Php 30,000 on account and Julia will pay on May 8, 2020 Apr 10 Paid salaries of drivers, Php 10,000 Rented the vehicle to Joshua for Php 35,000, Joshua paid Php 20,000 on that date and the balance on April 20 Apr 15 Apr 18 Paid electric bills forthe month, Php 2,000 Apr 20 Collected from Joshua the balance of his April 15 account Apr 25 Purchased office supplies, Php 2,300 Apr 29 Earned and collected trucking income from Gerald, Php 18,000

INMACULATA TRUCKING., INC. On April 1, 2020, Marie France organized a business called Inmaculata Trucking. Inc. During April, the company entered into the following transactions: Apr 1 Marie France deposited Php 500,000 cash in a bank account in the name of the business. Purchased for Php 250,000 a transportation equipmentto be used in the business. Marie France paid 50% as down payment while the balance will be paid on May 15, 2020 Apr 1 Аpr 1 Paid rental forthe month of April, Php 5,000 Apr 5 Earned and collected trucking income from Eva, Php 8,000 Apr 8 Earned trucking income from Julia, Php 30,000 on account and Julia will pay on May 8, 2020 Apr 10 Paid salaries of drivers, Php 10,000 Rented the vehicle to Joshua for Php 35,000, Joshua paid Php 20,000 on that date and the balance on April 20 Apr 15 Apr 18 Paid electric bills forthe month, Php 2,000 Apr 20 Collected from Joshua the balance of his April 15 account Apr 25 Purchased office supplies, Php 2,300 Apr 29 Earned and collected trucking income from Gerald, Php 18,000

Name: INMACULATA TRUCKING., INC.On April 1, 2020, Marie France organized a
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Description: INMACULATA TRUCKING., INC.On April 1, 2020, Marie France organized a business called Inmaculata Trucking. Inc. DuringApril, the company entered into the following transactions:Apr 1Marie France deposited Php 500,000 cash in a bank account in the nam

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...

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