Activity #5: Classify The following transactions pertain to the operations of Happy Events, an events planning company owned by Jessie Natividad. The entity had the followinn transactions during the month: a) Received P180,000.00 cash investment from the owner b) Provide P400,000.00 services on account c) Incurred P220,000.00 operating expenses on account d) Collected P320,000.00 cash from accounts receivable e) Allowed P30,000.00 cash withdrawal to the owner of the business ) Paid P160,000.00 cash on accounts payable g) Performed services for P30,000.00 cash onibet

Activity #5: Classify The following transactions pertain to the operations of Happy Events, an events planning company owned by Jessie Natividad. The entity had the followinn transactions during the month: a) Received P180,000.00 cash investment from the owner b) Provide P400,000.00 services on account c) Incurred P220,000.00 operating expenses on account d) Collected P320,000.00 cash from accounts receivable e) Allowed P30,000.00 cash withdrawal to the owner of the business ) Paid P160,000.00 cash on accounts payable g) Performed services for P30,000.00 cash onibet

Name: • How much is CUJI• How much is cash as at December 31, 2019?Activity
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Description: • How much is CUJI• How much is cash as at December 31, 2019?Activity #5: ClassifyThe following transactions pertain to the operations of Happy Events, an eventplanning company owned by Jessie Natividad. The entity had the followingtransactions duri

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

• How much is CUJI
• How much is cash as at December 31, 2019?
Activity #5: Classify
The following transactions pertain to the operations of Happy Events, an event
planning company owned by Jessie Natividad. The entity had the following
transactions during the month:
a) Received P180,000.00 cash investment from the owner
b) Provide P400,000.00 services on account
c) Incurred P220,000.00 operating expenses on account
d) Collected P320,000.00 cash from accounts receivable
e) Allowed P30,000.00 cash withdrawal to the owner of the business
f) Paid P160,000.00 cash on accounts payable
g) Performed services for P30,000.00 cash
• How is the net or Ih cash for the year?

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Subject: acounting
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