Transactions completed by HIRAP WORKS during the month of June were as follows.
a. Mr. H.I. Raponcil, the owner/proprietor, invested the following:
Cash
P50,000
Tables, Chairs , Typewriter and other equipment
60,000
b. Paid one-month rent of space in aq building for use by the business, 4,500
c. Paid 2,850 for business permits and licenses to the city government.
d. Bought various supplies for cash 2,525
e. Bought additional equipment from Carlo Trading for 30,000
f. Work done to cash customers 15,600
g. Supplies bought on account from Lala Marketing, 2,750
h. Paid following expenses:
Salaries of helpers and clerks
4,500
Other expenses
800
i. Billed/charged customers for jobs completed on account, 12,500
j. Collected 6,000 from customer’s accounts
k. Paid 1/3 of the account to Carlo Trading
l. Cash received for services completed, 10,500
m. Paid the following expenses:
Services of helpers and clerks
4,700
Personal use of Mr. Raponcil
2,300
Miscellaneous bills
700