transactions. Note that she made no withdrawals during the month. The following isglory, established the AA Tutorial Services. On May 1, 2021, she contributed P70,000 asTransactions in a Completed Worksheeterates a repairAsuncion Alcala, to be able to guide the accountancy students in their pursuits for.CPAequity by placing the letter I (income), E (expense), W (withdrawal), or INV (investment)at the right of each increase or decrease in owner's equity. On the lines labeled "Bal."For each transaction, identifyhe following(i.e.Balance) show the new equation resulting from the transaction.OECorpuz,CapitalProblem #9glory, established the AA Tutorial Services On May 1, 2021, she contributed P70,000 asinvestment to start the business.During the month, she entered into severalthe transaction worksheet prepared by her student-assistant:NotesAlcala,AccountsOfficeAccountsCashPayableCapitalReceivableEquipmentPayable%3D+70,000+70,000-45,0001.+45,0002.3.+10,000+20,000+30,000+18,0004. .+18,000-5,0005.-5,000+7,0006.+7,0007.-10,000-10,0008.+15,000-15,000-7,0009.-7,000Required:1.Describe each of the above transactions.2. If these transactions represent the operations of AA Tutorial Services during themonth of May, what was the amount of profit or loss before depreciation?

Name: transactions. Note that she made no withdrawals during the month. The
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Description: transactions. Note that she made no withdrawals during the month. The following isglory, established the AA Tutorial Services. On May 1, 2021, she contributed P70,000 asTransactions in a Completed Worksheeterates a repairAsuncion Alcala, to be able

Accounting equation of the business says that total assets will be always equal to total liabilities…

Business

Accounting

Asuncion Alcala, to be able to guide the accountancy students in their pursuits for.CPA glory, established the AA Tutorial Services. On May 1, 2021, she contributed P70,000 as rksheet investment to start the business. During the month, she entered into several transactions. Note that she made no withdrawals during the month. The following is the transaction worksheet prepared by her student-assistant: Alcala, Capital Accounts Office Accounts Notes Cash Receivable Payable Payable Equipment + %3D +70,000 +70,000 -45,000 1. +45,000 2. 3. +10,000 +20,000 +30,000 +18,000 -5,000 000 ,ר+ 4. +18,000 -5,000 +7,000 5. 6. 7. -10,000 -10,000 8. +15,000 -15,000 -7,000 9. -7,000 Required: 1. Describe each of the above transactions. 2. If these transactions represent the operations of AA Tutorial Services during t month of May, what was the amount of profit or loss before depreciation?

Asuncion Alcala, to be able to guide the accountancy students in their pursuits for.CPA glory, established the AA Tutorial Services. On May 1, 2021, she contributed P70,000 as rksheet investment to start the business. During the month, she entered into several transactions. Note that she made no withdrawals during the month. The following is the transaction worksheet prepared by her student-assistant: Alcala, Capital Accounts Office Accounts Notes Cash Receivable Payable Payable Equipment + %3D +70,000 +70,000 -45,000 1. +45,000 2. 3. +10,000 +20,000 +30,000 +18,000 -5,000 000 ,ר+ 4. +18,000 -5,000 +7,000 5. 6. 7. -10,000 -10,000 8. +15,000 -15,000 -7,000 9. -7,000 Required: 1. Describe each of the above transactions. 2. If these transactions represent the operations of AA Tutorial Services during t month of May, what was the amount of profit or loss before depreciation?

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

Topic Video

Question

transactions. Note that she made no withdrawals during the month. The following is
glory, established the AA Tutorial Services. On May 1, 2021, she contributed P70,000 as
Transactions in a Completed Worksheet
erates a repair
Asuncion Alcala, to be able to guide the accountancy students in their pursuits for.CPA
equity by placing the letter I (income), E (expense), W (withdrawal), or INV (investment)
at the right of each increase or decrease in owner's equity. On the lines labeled "Bal."
For each transaction, identify
he following
(i.e.
Balance) show the new equation resulting from the transaction.
OE
Corpuz,
Capital
Problem #9
glory, established the AA Tutorial Services On May 1, 2021, she contributed P70,000 as
investment to start the business.
During the month, she entered into several
the transaction worksheet prepared by her student-assistant:
Notes
Alcala,
Accounts
Office
Accounts
Cash
Payable
Capital
Receivable
Equipment
Payable
%3D
+70,000
+70,000
-45,000
1.
+45,000
2.
3.
+10,000
+20,000
+30,000
+18,000
4. .
+18,000
-5,000
5.
-5,000
+7,000
6.
+7,000
7.
-10,000
-10,000
8.
+15,000
-15,000
-7,000
9.
-7,000
Required:
1.
Describe each of the above transactions.
2. If these transactions represent the operations of AA Tutorial Services during the
month of May, what was the amount of profit or loss before depreciation?

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