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Directions: On the transaction summary table below, indicate the effect of each transaction on each account. Put "()"if the account has decreased and check if the asset = liabilities + owner's equity. ASSETS LIABILITIES Transaction 1. Pina invested P700,000 cash 2. Sold old office equipment, P36,000 cash 3. Rendered services to Mr. Bernardo on account, P10,000 4. Cash services to clients, P14,000 5. Bought P50,000 office equipment on account 6. Received P10,000 note from Mr.Bernardo in lieu of his account. 7. Partial payment of P15,000 for the office equipment bought in No.5 8. Paid electric bill Meralco to P1,800 9. Mr. Bernardo settled the 50% of the note. 10. Ms. Pina made P20,000 additional investment 11. Paid the office. equipment in full Balance 12. Borrows P50.000 from banks 13. Mr. Bernardo. settled the note in full, 14. Pina withdrew P10,000 cash for personal use. 15. Paid 25% of the bank loan Cash OWNER'S EQUITY Accounts Note Equipm Accounts Loan Pina receivable Receivable ent Payable Payable Capital Explanation (Revenue, Utility Expense, Pina Drawings)
Sagot :
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