Promissory Notes and Discounting - Assignment for BSA1A

 Assignment - BSA1A

Journalize the following transactions that took place during November for EBD's Firm.
1 - Bought an equipment with a fair market value of P300,000 from Mix Co. EBD will assume the mortgage of P50,000.
3 - The owner invested P500,000 cash. 50% was immediately deposited with the bank.
4 - Bought 4 computers for P100,000 issuing a 20-day, 12% promissory note to Cyber Inc. Paid P1000 for the freight.

To my BSA1A - Solve This Problem

BSA1A,
         I know you have attended the Sunday Mass and you are now ready to study. Work on your assignment as follows:

PROBLEM:

To My BSA1A Please Bring Your Copy Of The Problem

Hello everyone! Please bring a copy of the accounting problem posted here in my blog. You will be doing the requirements on the board on JULY 21, 2010,  a voluntary basis. Bring general journals and  general ledgers. See you!

For My BSA 1A Class Here Are The Topics For Discussion

Be Advised: Topics for discussion on July 19, 2010 are as follows:

Investment of owner
           1. Cash  
           2.  Non-Cash Asset
           3. Existing business
Withdrawal by owner
           1. Cash
           2. Non-Cash Asset
Cash on Hand/Cash in Bank
Purchase of Property
Sale of Property