Scribd Logo
Upload

Welcome to Scribd!

  • FAR111 Assign

    Uploaded by

    naldima06
    3 views1 page
    The document describes 15 transactions of a business and their impact on various asset, liability, and equity accounts. It tracks cash, accounts receivable, notes receivable, equipment, accounts payable, loans payable, and capital. Key transactions include an initial investment of P650,000 cash, sale of equipment for P10,000, services provided to and collected from customers, purchase of equipment on account, a note receivable, payments on accounts and loans, additional investments, and cash withdrawals.

    Original Description:

    Standard

    Original Title

    FAR111-Assign

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document describes 15 transactions of a business and their impact on various asset, liability, and equity accounts. It tracks cash, accounts receivable, notes receivable, equipment, accounts payable, loans payable, and capital. Key transactions include an initial investment of P650,000 cash, sale of equipment for P10,000, services provided to and collected from customers, purchase of equipment on account, a note receivable, payments on accounts and loans, additional investments, and cash withdrawals.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    3 views1 page

    FAR111 Assign

    Uploaded by

    naldima06
    The document describes 15 transactions of a business and their impact on various asset, liability, and equity accounts. It tracks cash, accounts receivable, notes receivable, equipment, accounts payable, loans payable, and capital. Key transactions include an initial investment of P650,000 cash, sale of equipment for P10,000, services provided to and collected from customers, purchase of equipment on account, a note receivable, payments on accounts and loans, additional investments, and cash withdrawals.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    ASSETS LIABILITIES OWNER’S

    TRANSACTIONS EQUITY
    CASH ACCOUNTS NOTES OFFICE EQUIPMENT ACCOUNTS LOANS CAPITAL
    RECEIVABLE RECEIVABLE PAYABLE PAYABLE

    1. Invested Puma
    P650,000 cash

    2. Sold old office


    equipment, P10,000

    3. Rendered services to
    Mr. Go on account,
    P10,000

    4. Services Cash to
    clients, P22,000

    5. Bought P30,000 worth


    of office equipment on
    account

    6. Received a note from


    Mr. Go for account

    7. Partial payment
    P12,000 for the office
    equipment bought in #5
    8. Paid electric bill to
    Meralco, P1,800
    9. Mr. Go settled 40% of
    the note
    10. Puma made an
    additional investment of
    P75,000

    11. Paid for the office


    equipment in full
    12. Proceeds from bank
    loan, P100,000
    13. Mr. Go settled the
    note in full
    14. Puma withdrew
    P45,000
    15. Paid 50% of the bank
    loan
    16. Cash collections from
    various customers

    On the transaction summary table below, indicate the effect of each transaction on each account. Put “+” if the account
    has increased or “-“ if the accounting has decreased. Put the amount of increase or decrease for each account.

    You might also like