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Accounting Equation Removal.2
Accounting Equation Removal.2
Department of Education
REGION X – NORTHERN MINDANAO
DIVISION OF LANAO DEL NORTE
BALO-I NATIONAL HIGH SCHOOL
ACHACOSO DRIVE, MARIA CRISTINA, BALO-I, LANAO DEL NORTE
ACCOUNTING EQUATION
Removal quiz
DATE TRANSACTION
JUNE
1 Ms. Virginia Ruben invests cash in the business where she opened an
account with Bank of the Philippines Islands, P 250,000
2 Withdrew cash from the bank to pay the business permits to the city
government, P 5,000
3 Received cash for service rendered and deposited to the bank, P4,000
4 Bought office supplies on account from A. Suazo Co., P2,000
5 Withdrew cash from the bank for her personal use, P 10,000
6 Withdrew cash from the bank for partial payment of account with A.
Suazo Co., P 1,000
7 Rendered service on account to various clients, P 3,500
9 Withdrew cash from the bank for payment of salaries to her employees,
P10,000
10 Collected P 2,000 from the client’s account and immediately deposited to
the bank.
ACTION PLAN