1. The form can be taken until October 07, 2022 (Thursday) 11:59 PM 2. Exam submitted after that time will not be accepted and your exam score will be automatically zero. 3. In the event that you submitted more than once, the first exam submitted will be deemed as your official answer. 4. It is highly recommended to take the exam with large screens like tablets or laptops for the convenience of answering. 5. All the questions were marked required to avoid submission with incomplete answers. 6. Prepare pen, calculator, and scratch papers for computations. 7. Write your correct email address as the answers and your scores will be sent to the email address provided. 8. Points will be deducted from the total score if submitted after the deadline. 9. Any questions regarding the above and the exam, please direct them to me.
In 2020, Rich Kolasa opened Rich's Repair Shop, a new bike repair business, as a sole proprietorship. Most of the repairs that Rich's shop does are paid for in cash. Rich receives an advance from local bike rental store in return for agreement to repair the store's bikes as needed. He also bill a regional bike club whenever his shop repairs a member's bicycle. Within one year, the repair ship grew so busy that Rich had to hire several employees. Following in an alphabetical list of the shop's accounts and their balances in December 31, 2021. Identify each account's correct financial statement element.
Account
Payable
Php 7000
Asset
Liabilities
Owners Equity Capital
Owners Equity withdrawal
Revenues
Expenses
pa help ng sagot ! salamat
