B. Transaction effects on the Basic Accounting Equation. For each transaction, indicate whether the assets (A), libailities (L) or owner's equity (OE) increased (+), decreased (-), or did not change (0) by placing the appropriate sign in the appropriate column. During the month of May, Marialyn Trabasas Co. had the following transactions: L A OE a Paid salaries for May, P54,000.00 b. Acquired equipment on credit, P90,000.00 c. Purchased supplies in cash, P3,000.00 d. Additional investments by owner, P12,000.00_ e. Received payment for services rendered, P18,000.00 f. Made partial payment on equipment acquired on credit, P30,000.00 g. Billed customers for services performed, P48,000.00 h. Withdrew cash for personal use, P45,000.00 i. Received payment from customers already billed, P9,000.00 |||

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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B. Transaction effects on the Basic Accounting Equation.
For each transaction, indicate whether the assets (A), libailities (L) or owner's equity
(OE) increased (+), decreased (-), or did not change (0) by placing the appropriate sign
in the appropriate column.
During the month of May, Marialyn Trabasas Co. had the following transactions:
A
L
OE
a Paid salaries for May, P54,000.00
b. Acquired equipment on credit, P90,000.00
c. Purchased supplies in cash, P3,000.00
d. Additional investments by owner, P12,000.00_
e. Received payment for services rendered,
P18,000.00
f. Made partial payment on equipment
acquired on credit, P30,000.00
g. Billed customers for services performed,
P48,000.00
h. Withdrew cash for personal use, P45,000.00
i. Received payment from customers already
billed, P9,000.00
| ||
|||
Transcribed Image Text:B. Transaction effects on the Basic Accounting Equation. For each transaction, indicate whether the assets (A), libailities (L) or owner's equity (OE) increased (+), decreased (-), or did not change (0) by placing the appropriate sign in the appropriate column. During the month of May, Marialyn Trabasas Co. had the following transactions: A L OE a Paid salaries for May, P54,000.00 b. Acquired equipment on credit, P90,000.00 c. Purchased supplies in cash, P3,000.00 d. Additional investments by owner, P12,000.00_ e. Received payment for services rendered, P18,000.00 f. Made partial payment on equipment acquired on credit, P30,000.00 g. Billed customers for services performed, P48,000.00 h. Withdrew cash for personal use, P45,000.00 i. Received payment from customers already billed, P9,000.00 | || |||
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