Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following transactions occurred on January 1, 2020?
Which of the following transactions occurred on January 1, 2020?
- Aaron invested his personal computers worth P50,000 in the business.
- Received P10,000 for various services rendered.
- Aaron invested P200,000 to start his business. (correct)
- Received P2,000 from his clients.
Which transaction involved a down payment and a promissory note?
Which transaction involved a down payment and a promissory note?
- Received P2,000 from his clients
- Received P9,000 as advance payment for services rendered
- Received P10,000 for various services rendered
- Purchased computer sets worth P150,000 (correct)
Which transaction involved receiving an advance payment for services rendered?
Which transaction involved receiving an advance payment for services rendered?
- Received P2,000 from his clients
- Received P10,000 for various services rendered
- Received electric bill for the month of January in the amount of P2,500
- Received P9,000 as advance payment for services rendered (correct)
Which transaction involved buying office supplies?
Which transaction involved buying office supplies?
Signup and view all the answers
Which transaction involved paying salary to John Jay?
Which transaction involved paying salary to John Jay?
Signup and view all the answers
Flashcards are hidden until you start studying
