Calling the attention of all aspirant soon to be CPA'S and any other related courses to stop by and read this book.
This is a taglish book for better understanding of explanations.
Read in order to learn. Listen in order to understand.
So what ar...
May 1 Buddy Bungal invested P210,000 in Bud's Computer Repair Shop. The deposit slip was #100.
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Sa may description ng journal entry, kahit hindi na ilagay ang deposit slip number. Lalabas kasi ang reference number na 'yan sa may GL niyo. PERO DEPENDE SA TEACHER NIYO KUNG ANO I-REQUIRE NIYA SA INYO.
3 Purchased repair equipment from Ocean Park for P30,000.00. Check #4801 was issued in the amount of P18,000, with balance being placed on account. The invoice number was A998.
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Ha? Bakit? Paano? Anong nangyari?
Basahin mo ulit 'yung transaction. Ang amount ng equipment is 30,000. Out of 30,000, 18,000 lang ang ini-issue-han niya ng cheque. So the balance, 'place on account'. Ibig sabihin, payable. Simpleng math operation ang accounting, 'di ba? Kaso magkakagulo sa analysis. Kung paano mo intindihin ang transaction. Nasa basic pa lang tayo guise.
8 Repaired a customer's computer billing him P5,000 on billing #690.
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Based sa mga above transactions, mapapansin niyo sa REPAIR SHOP ang business industry na ina-account natin. Ano ba nature ng REPAIR? Oo tama, SERVICE. Kaya Service Revenue ang account natin. Pwede rin ang Service Income. Depende sa Chart of Accounts na binigay. Paano naman kapag nagbebenta ng computer parts? We will use SALES account naman.
