Show the effect of each of the above transactions [Plus sign (+) for addition,
Minus sign (-) for subtraction] in the transaction analysis table provided.
1 Miss Colleen Pomada invested P 500,000 and a equipment worth P 200,000 to start a catering business.
2 Borrowed money from a bank, P 50,000. PharAd&Mgt 2
3 Rendered services to customers for cash, P 50,000. MTH 9:00 - 10:30 AM- MIDES HALL
4 Purchased supplies on account, P 4,000. Mr. Rhandy M. Oyao, CPA, MBA
5 Paid the rent for the month, P 10,000. Name: ________________________________________
6 Purchased furniture, tables and chairs paying P 20,000 cash. Date: _____________________________
7 Rendered services to customers on account, P 60,000. Course and Year : _______________________________
8 Paid the utilities for the month P 3,000.
9 Purchased land for cash, P 250,000.
10 Provided catering services to clients receiving P 30,000 cash.
11 Paid salaries of employees, P 15,000.
12 Miss Colleen Pomada withdrew cash for personal use, P 10,000.
13 Collected payment from customers in # 7, P 40,000.
14 Paid the supplier in # 4, P 3,000.
Show the effect of each of the above transactions [Plus sign (+) for addition, Minus sign (-) for subtraction] in the transaction analysis table
provided. Write the ending balances of each account at the bottom of the table. Check if total assets is equal to Liabilities + Equity.
Balance
___________
___________
QUITY
Expenses
Date Description Debit
Credit