Show complete formula and Solution. Mr. Apollo established an accounting tutorial service business and had invested P90,000 cash ofhis personal money into the business.b. Borrowed P100,000 from BPI payable after 2 years. The company issued a note to the bank.c. Purchased tables and chairs for cash, P45,000.d. Paid rent for the office, P8,000.a.e. Purchased additional tables and chairs from Moon Furniture on account, P20,000.Received cash for tutorial services rendered, P75,000.f.g. Paid employees' salaries, P30,000.h. Paid Moon Furniture for the additional tables and chairs previously purchased on accountP10,000.Paid water and electricity bill, P4,500.j. Rendered tutorial services to students on account, P55,000.k. Mr. Apollo withdrew cash for personal use, P15,000.Collected from customers for the tutorial services previously rendered on account, P37,000.i.I.REQUIRED: Show the effect of these transactions on the accounting equation by completing the tablebelow. Identify each owner's equity transaction:Asset= Liabilities+ CapitalApollo,СapitalCashAccountsFurniture andAccountsNoteType of Owner's EquityReceivableFixturesPayablePayableTransactionae2/3kBalTotal

As per Accounting Equation, Assets =Liabilities +Capital

a. Mr. Apollo established an accounting tutorial service business and had invested P90,000 cash of his personal money into the business. b. Borrowed P100,000 from BPI payable after 2 years. The company issued a note to the bank. c. Purchased tables and chairs for cash, P45,000. d. Paid rent for the office, P8,000. e. Purchased additional tables and chairs from Moon Furniture on account, P20,000. f. Received cash for tutorial services rendered, P75,000. g. Paid employees' salaries, P30,000. h. Paid Moon Furniture for the additional tables and chairs previously purchased on account P10,000. i. Paid water and electricity bill, P4,500. j. Rendered tutorial services to students on account, P55,000. k. Mr. Apollo withdrew cash for personal use, P15,000. 1. Collected from customers for the tutorial services previously rendered on account, P37,000. REQUIRED: Show the effect of these transactions on the accounting equation by completing the table below. Identify each owner's equity transaction:

a. Mr. Apollo established an accounting tutorial service business and had invested P90,000 cash of his personal money into the business. b. Borrowed P100,000 from BPI payable after 2 years. The company issued a note to the bank. c. Purchased tables and chairs for cash, P45,000. d. Paid rent for the office, P8,000. e. Purchased additional tables and chairs from Moon Furniture on account, P20,000. f. Received cash for tutorial services rendered, P75,000. g. Paid employees' salaries, P30,000. h. Paid Moon Furniture for the additional tables and chairs previously purchased on account P10,000. i. Paid water and electricity bill, P4,500. j. Rendered tutorial services to students on account, P55,000. k. Mr. Apollo withdrew cash for personal use, P15,000. 1. Collected from customers for the tutorial services previously rendered on account, P37,000. REQUIRED: Show the effect of these transactions on the accounting equation by completing the table below. Identify each owner's equity transaction:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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