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LJ, married, left the Philippines in the middle of the year on July 1, 2020 to go abroad and work there for (5) years. The following data were provided as of December 31, 2020:Jan 1 to June 30 Gross Business Income Business ExpensePHs 300,000 100,000Abroad 200,000 50,000Jul 1 to Dec 30 Gross Business Income Business ExpensePHs 600,000 150,000Abroad 400,000 50,000
1 Balances brought forward: Cash 5000; Bank 12000. ,, 2 The following paid us by cheque, in each case deducting a 5 per cent cash discount:Saurav 900; Ismail 400; Taposh 460; Aiyan G 1,080. ,, 3 Cash sales paid direct into the bank 850. ,, 5 Paid rent by cash 440. ,, 6 We paid the following accounts by cheque, in each case deducting 211% per cent cashdiscount: Shahi 480; Shakera 1000; Piyama 400. ,, 8 Withdrew cash from the bank for business use 600. ,, 10 Cash sales 1,160. ,, 12 Kamal paid us their account of 360 by cheque less 5 cash discount. ,, 14 Paid rent by cash 670. ,, 16 We paid the following accounts by cheque: Piyal310 less cash discount 15;Tinni 680 less cash discount 12. ,, 20 Bought Equipment by cheque 2,240. ,, 24 Bought Van paying by cheque 10,300. ,, 29 Received 768 cheque from Litu. ,, 30 Cash sales 910 P. T. O Marks=15