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Hi I'm new to Accounting, it's my minor subject. Can anyone help me How to create a Posting T Accounts from a Journal Entry Below, i'm struggling on categorizing... Please help Mercy.
June 2000
1 Miss Von Invested P300,000 in the business.
2 Purchased tables and charis, P13,000 and play equipment for P23,000 from Almar Nursery Home Furniture on credit.
4 Paid P1,200 cash to a local newspaper for advertising the opening of the nursery school
5 Purchased nursery supplies from Leo Nursery Supplies on credit, P7,500
7 Received P8,000 from a client
8 Paid P10,000 to Almar Nursery Home Furniture and Equipment as partial Settlement of the account.
10 Sent a bill to P. Paloma for fees amounting to P6,500
11Paid Leo Nursery Supplies the full amount due to it
15 Paid Monthly rent of the space P5,000
18 Collected P3,000 from P. Paloma as partial settlement of her
Account.
20 Recieved P10,500 from various customers
25 Paid the utilities for the month, P1,800
26 Purchased additional nursery supplies for cash P15,000
28 Withdrew P5,000 for personal use
June 2000
1 Miss Von Invested P300,000 in the business.
2 Purchased tables and charis, P13,000 and play equipment for P23,000 from Almar Nursery Home Furniture on credit.
4 Paid P1,200 cash to a local newspaper for advertising the opening of the nursery school
5 Purchased nursery supplies from Leo Nursery Supplies on credit, P7,500
7 Received P8,000 from a client
8 Paid P10,000 to Almar Nursery Home Furniture and Equipment as partial Settlement of the account.
10 Sent a bill to P. Paloma for fees amounting to P6,500
11Paid Leo Nursery Supplies the full amount due to it
15 Paid Monthly rent of the space P5,000
18 Collected P3,000 from P. Paloma as partial settlement of her
Account.
20 Recieved P10,500 from various customers
25 Paid the utilities for the month, P1,800
26 Purchased additional nursery supplies for cash P15,000
28 Withdrew P5,000 for personal use