Reference no: EM133013819
Question - Recording Transactions in a Financial Transaction Worksheet - On March 1, 2021, Angelica Marie Castro, M.D., established the Castro Sports Rehab Clinic. Transactions completed during the month of March are as follows:
a. Castro deposited P250,000 in a bank account in the name of the business.
b. Paid rent for the month, P11,000.
c. Bought supplies on account from Shaw Company, P11,700.
d. Bought professional equipment on account from Rizal Company, P58,000.
e. Bought office equipment on account from Marikina Company, P8,640.
f. Performed professional services for cash, P48,200.
g. Settled a portion of the accounts payable with Rizal Company (on letter d), P18,500.
h. Received and paid the bill for utilities, P3,820.
i. Paid salaries of assistants, P11,500.
j. Rendered professional services for cash, P38,000.
k. Castro withdrew cash for personal use, P16,000.
Required - Record the transactions for the month of March 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Supplies; Office Equipment; Professional Equipment; Accounts Payable and Castro, Capital. If the owner's equity account is affected by a transaction, identify it as revenue, expense, investment or withdrawal.
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