1. How much is the increase in the capital of Choy after taking into account all transactions?
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- Choy, after recelving her degree in Hotel and Restaurant Management began her own business called Choy Cakes and Patries. She completed the following transactions soon after the start of the business. Choy began her business with a P150,000 cash investment, which she deposited in the bank and alaptop and printer worth P35,000. Paid one month's rent on a sales outlet space for her business. Rent is P10,000 per month. Choy does her baking at their home and she only needed a display and sales outlet for her products. Purchased an oven worth P70,000 in cash. Purchased baking supplies on account worth P50,000. Purchased baking paraphernalia like pans, etc.worth P20,000, in cash. Received cash for cakes and pastries sold, P40,000 for the month. Billed a customer for the cakes and pastries ordered for a birthday party, P15,000. Paid utilities for the month worth P5000. b. C. d. e. f. h. 7. Paid her parents for the space being used as baking area at their home, P5000. Determined that baking…Choy, after receiving her degree in Hotel and Restaurant Management began her own business called Choy Cakes and Pastries. She completed the following transactions: a. Choy began her business with a P150,000 cash investment, which she deposited in the bank and a laptop and printer worth P35,000. b. Paid one month's rent on a sales outlet space for her business. Rent is P10,000 per month. c. Purchased an oven worth P70,000 in cash. d. Purchased baking supplies on account worth P50,000. e. Purchased baking paraphernalia like pants, etc. worth P20,000 in cash. f. Received cash for cakes and pastries sold, P40,000 for the month. g. Billed a customer for the cakes and pastries ordered for a birthday party, P15,000. h. Paid utilities for the month worth P5,000. i. Paid her parents for the space being used as baking area at their home, P5,000. j. Determined that baking supplies is now worth P30,000 for the month. k. From letter D transaction, Choy paid P20,000. l. Customer from…Lucy Sdn Bhd. is a food production company which began operations on January 1, 2021. At the beginning of the year, Lucy brings in RM100,000 to her business's bank account and apply a long-term business loan with the amount of RM80,000 with an interest of 10 percent per year. Lucy decided to utilize her business's bank account only for all transaction for the year. Three months later, her business loan application is successful. She hired five permanent staff and she is agreed to pay each of them a total of RM14,440 per annum. At the end of the year, a total of RM10,800 was used to pay for utility bill. Lucy recorded a total of RM 1,080,000 sales, 30 percent from it derived from credit sales. A total of RM 24,000 was used to pay for office's annual rental fees. Lucy purchases a total of RM500,000 inventory and 20 percent from it derived from credit purchase. and the value of ending inventory was RM150,000. At the beginning of the year, Lucy purchases an equipment which cost her…
- Angel De Jesus, a business graduate student who was working as a mere employee in a company called Think Computer, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the start-up transactions for March: 1 Angel started an internet shop called "Playnet.com" by investing her savings of P50,000 and the proceeds from the sale of her car which amounted to P300,000. 5 Angel hired two workers to assist her in the shop for a monthly salary of P6,000 each worker. 10 Lessor (owner) of the shop required her to pay two months' rent deposit in cash, P10,000 15 She paid cash of P8,000 for furniture bought from Alexis Furniture Store. 18 She bought an aircon unit from Abbe Appliances for P45,000 promising to pay the account within three months. 20 She purchased supplies and paid cash of P1,500. 25 The shop was ready for the installation of the computer units. Angel purchased 12 units of computer hardware from Think PC She paid 50% in cash P125,000…Mr Alex opened furniture shop called Alex Furniture Shop and completed the following transactions in the month of January: Jan Borrowed RM100,000 cash and signed a 12-month, RM100,000 note. Interest is in addition to the face value, at the rate of 15%. 1 2 Bought a factory for RM200,000, paying RM80,000 in cash and the balance is on account. 3 Sold RM104,000 of furniture and billed customers. 5 Bought goods from Bob Shop with purchase invoice amounted to RM10,500. Terms of purchase is 5/10, n30. 14 Make payment to Bob Shop for the balance due by cash. 20 Received a 50% deposit in cash from a customer on a RM20,000 order to be filled next month. 25 Mr. Alex took RM2,000 cash to buy washing machine for his wife. 28 Paid utility bill for the current period in the amount of RM1,200 using cash. 31 Made the end-of-year adjusting entry to accrue interest expense on a 12-month, RM100,000 note. Required: a) Journalise the above transactions b) Prepare cash account and show the cash balance as…After taking into account the transactions of Choy, please answer Questions 1 -10. Choy, after recelving her degree in Hotel and Restaurant Management began her own business called Choy Cakes and Patries. She completed the following transactions soon after the start of the business. Choy began her business with a P150,000 cash investment, which she deposited in the bank and a laptop and printer worth P35,000. Paid one month's rent on a sales outlet space for her business. Rent is P10,000 per month. Choy does her baking at their home and she only needed a display and sales outlet for her products. Purchased an oven worth P70,000 in cash. Purchased baking supplies on account worth P50,000. Purchased baking paraphernalia like pans, etc.worth P20,000, in cash. Received cash for cakes and pastries sold, P40,000 for the month. Billed a customer for the cakes and pastries ordered for a birthday party, P15,000. Paid utilities for the month worth P5000. a. b. C. d. e. f. B- h. Paid her parents…
- Angela de Dios, a business graduate student who was working in Think Computer, a company selling all kinds of computers, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 1 - Angela started an internet shop called “Playnet. com” by investing her savings of ₱ 50,000 and the proceeds from the sale of her car of ₱ 300,000 5 - Angela hired two workers to assist her in the shop. 10 - Two month rent deposit was paid in cash, ₱10,000 15 - Paid ₱15,000 for building materials to fix the shop, ₱8,000 for furniture, ₱ 45,000 for one unit of aircon and two units of electric fan. 20 - Purchased supplies for cash, ₱1,500 25 - The shop was ready for the installation of the computer units. Angela purchased 12 units of computer hardware from Think PC. She paid 50% in cash for ₱ 125,000 and a note for the balance payable in 24 monthly installments starting April 20.Angela de Dios, a business graduate student who was working in Think Computer, a company selling all kinds of computers, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 1 - Angela started an internet shop called “ Playnet.com” by investing her savings of ₱ 50,000 and the proceeds from the sale of her car of ₱ 300,000 5 - Angela hired two workers to assist her in the shop. 10 - Two month rent deposit was paid in cash, ₱10,000 15 - Paid ₱15,000 for building materials to fix the shop, ₱8,000 for furniture, ₱ 45,000 for one unit of aircon and two units of electric fan. 20 - Purchased supplies for cash, ₱1,500 25 - The shop was ready for the installation of the computer units. Angela purchased 12 units of computer hardware from Think PC. She paid 50% in cash for ₱ 125,000 and a note for the balance payable in 24 monthly installments starting April 20. The transactions using the following accounts for asset and…In early December Alice and Bob decided to open Sample Cafe with $16,000 of their ownmoney and $20,000 borrowed from a friend. They have spent $13,000 on equipment andfurniture, and they have purchased $3,200 worth of cups for cash which they expect will beused over the next three months. Having put down a $2,300 deposit for a location on MainSt., they will pay the first month’s rent when they open their doors on January 1.In the balance sheet template below, fill in the appropriate values as of December 31.
- On January 1, 2025, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $91, 316 cash. The new company, Sheffield Sales and Service, has the following transactions during January. 1. Pays $12,000 in advance for 3 months' rent of office, showroom, and repair space. 2. Purchases 42 personal computers at a cost of $ 1,664 each, 8 graphics computers at a cost of $2, 664 each, and 27 printers at a cost of $464 each, paying cash upon delivery. 3. Sales, repair, and office employees earn $13,916 in salaries and wages during January, of which $4, 316 was still payable at the end of January. 4. Sells 32 personal computers at $2,714 each, 6 graphics computers for $3,764 each, and 17 printers for $664 each; $76,316 is received in cash in January, and $44, 404 is sold on a deferred payment basis. 5. Other operating expenses of $9, 716 are incurred and paid for during January; $3,316 of incurred expenses are payable at January 31. (a) Using…Michael and Roberta registered a hospitality company to serve travelers. 3 months ago, on 1st July 2018 they purchased a Café with 5 accommodation cabins in a bush location 60 minutes West of Sydney. The area is popular with bush walkers and nature lovers. Michael and Roberta took out an interest only loan of $250,000 to purchase the business – at an annual interest rate of 6% with interest payable monthly and they contributed $50,000 of their own cash to the business. After purchasing the business, Michael and Roberta discovered that the previous owners had not been completely truthful with the condition of the cabin beds, lounges and Air conditioners / heaters. Michael and Roberta are considering replacing these items in 3 of the cabins, and this will cost a total of $15,000. All of the equipment that was included in the purchase is depreciated at $3,200 per month. On 1st July 2018, Michael and Roberta purchased a 12 month insurance policy for public liability, fire and flood…Erica has just purchased a new personality from I Spy a New You, LLC for $1250. She put exactly 25% down and financed the rest for 10 years at 21% APR. She financed The monthly loan payment is rounded up to afull dollar. She paid interest and principal at the end of month 2, leaving an outstanding balance of Express all answers to the penny. Note: I recommend that you answer the question using hand calculations rather than a spreadsheet.