1. When posting all transactions to the ledgers, the cash account will show a total amount in the credit side ofA. 118,200B. 362,000C. 243,800D. 100,000 2. What is the final balance of the cash account after posting all related transactions to the ledger and after taking the difference between the total debits and credits?A. 243,800 credit balanceB. 243,800 debit balanceC. 362,000 debit balanceD. 362,000 credit balance 3. After posting all related transactions to the ledger, the service revenue account will show a total balance ofA. 82,000 debitB. 58,000 debitC. 82,000 creditD. 58,000 credit Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCIRemy opened her Tours4Fun business. During the first month, January, she completed the following transactions:Began business by investing cash of P300,000 a office equipment valued at P40,000, shop furniture wortha.P 65,000.Paid rent for the month, P20,000.b.Bought additional office equipment from Kapamilya Store on credit, P25,000.Bought shop supplies for cash P8,000.Received P20,000 from Sally for passporting services rendered.Purchased another office equipment for cash for P18,000.Completed work for Novy on credit, at P38,000.Paid telephone and internet services worth P5,200.Paid Kapamilya store in full.Received cash from customers for services rendered worth P24,000.с.d.е.f.g.h.i.j.Received P18,000 from Novy as partial payment of the amount she owes the Tours4Fun.Paid the salary of the office staff, P15,000.k.I.Bought another shop furniture worth P10,000 on credit.Miscellaneous expenses paid during the month were paid worth P27,000.m.n.Using the following Account Titles, answer the questions found in the attached google forms.ACCOUNT TITLES:CashAccounts receivableShop suppliesOffice equipmentShop furnitureAccounts payableRemy, capitalService revenueRent expenseTelephone and wifi expenseSalary expenseMiscellaneous expense

Name: 1. When posting all transactions to the ledgers, the cash account will
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: 1. When posting all transactions to the ledgers, the cash account will show a total amount in the credit side ofA. 118,200B. 362,000C. 243,800D. 100,000 2. What is the final balance of the cash account after posting all related transactions to the le

Transaction- A business transaction is a monetary exchange of products or services. Purchase of…

Answered: 1. When posting all transactions to the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 5PA: Inner Resources Company started its business on April 1, 2019. The following transactions occurred...

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

1. When posting all transactions to the ledgers, the cash account will show a total amount in the credit side of

A. 118,200

B. 362,000

C. 243,800

D. 100,000

2. What is the final balance of the cash account after posting all related transactions to the ledger and after taking the difference between the total debits and credits?

A. 243,800 credit balance

B. 243,800 debit balance

C. 362,000 debit balance

D. 362,000 credit balance

3. After posting all related transactions to the ledger, the service revenue account will show a total balance of

A. 82,000 debit

B. 58,000 debit

C. 82,000 credit

D. 58,000 credit

Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCI
Remy opened her Tours4Fun business. During the first month, January, she completed the following transactions:
Began business by investing cash of P300,000 a office equipment valued at P40,000, shop furniture worth
a.
P 65,000.
Paid rent for the month, P20,000.
b.
Bought additional office equipment from Kapamilya Store on credit, P25,000.
Bought shop supplies for cash P8,000.
Received P20,000 from Sally for passporting services rendered.
Purchased another office equipment for cash for P18,000.
Completed work for Novy on credit, at P38,000.
Paid telephone and internet services worth P5,200.
Paid Kapamilya store in full.
Received cash from customers for services rendered worth P24,000.
с.
d.
е.
f.
g.
h.
i.
j.
Received P18,000 from Novy as partial payment of the amount she owes the Tours4Fun.
Paid the salary of the office staff, P15,000.
k.
I.
Bought another shop furniture worth P10,000 on credit.
Miscellaneous expenses paid during the month were paid worth P27,000.
m.
n.
Using the following Account Titles, answer the questions found in the attached google forms.
ACCOUNT TITLES:
Cash
Accounts receivable
Shop supplies
Office equipment
Shop furniture
Accounts payable
Remy, capital
Service revenue
Rent expense
Telephone and wifi expense
Salary expense
Miscellaneous expense

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.