B. Activity Analyzing Transaction - Basic Accounting Equation Jesus Goyal Computer Company entered into the following transaction during April 2017; 1. Purchased Computers for P200,000 from Enigma Co on account. ASSETS LIABILITIES EQUITY %3D + + This is recorded as: Date Account Debit Credit 2. Paid P40, 000 cash for April rent of the office space for the month. 3. Received P150, 000 cash from customers for contracts billed in March. 4. Performed computer services for Laranang Computer Company for P40, 000 cash. 5. Paid the electric company P14,000 cash for energy usage in April. 6. Jesus Goyal invested an additional P50, 000 in the business. 7. Paid Enigma Co. for the computers purchased in (1) above. 8. Incurred an advertising expense for April amounting to P21, 000 on account.

B. Activity Analyzing Transaction - Basic Accounting Equation Jesus Goyal Computer Company entered into the following transaction during April 2017; 1. Purchased Computers for P200,000 from Enigma Co on account. ASSETS LIABILITIES EQUITY %3D + + This is recorded as: Date Account Debit Credit 2. Paid P40, 000 cash for April rent of the office space for the month. 3. Received P150, 000 cash from customers for contracts billed in March. 4. Performed computer services for Laranang Computer Company for P40, 000 cash. 5. Paid the electric company P14,000 cash for energy usage in April. 6. Jesus Goyal invested an additional P50, 000 in the business. 7. Paid Enigma Co. for the computers purchased in (1) above. 8. Incurred an advertising expense for April amounting to P21, 000 on account.

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Description: OPPO A122021/09/23 15:01B. Activity Analyzing Transaction - Basic Accounting EquationJesus Goyal Computer Company entered into the following transactionduring April 2017;1. Purchased Computers for P200,000 from Enigma Co on account.ASSETSLIABILITIES

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

OPPO A12
2021/09/23 15:01
B. Activity Analyzing Transaction - Basic Accounting Equation
Jesus Goyal Computer Company entered into the following transaction
during April 2017;
1. Purchased Computers for P200,000 from Enigma Co on account.
ASSETS
LIABILITIES
EQUITY
%3D
+
This is recorded as:
Date Account
Debit
Credit
2. Paid P40, 000 cash for April rent of the office space for the month.
3. Received P150, 000 cash from customers for contracts billed in March.
4. Performed computer services for Laranang Computer Company for
P40, 000 cash.
5. Paid the electric company P14,000 cash for energy usage in April.
6. Jesus Goyal invested an additional P50, 000 in the business.
7. Paid Enigma Co. for the computers purchased in (1) above.
8. Incurred an advertising expense for April amounting to P21, 000 on
account.

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