36MGMT 101a: Principles of Accounting Icash for P 150,000 and a note for the balance payable in 24 monthlyinstallments starting April 20Analyze the transactions using the following accounts for the assets andliabilities: Cash, Supplies, Rent Deposit, Furniture's & Fixtures, Equipment,Leasehold Improvement, Notes Payable, and De Dios Capital.Required (a) Use the format in Demonstration Problem No. 2 but extract thebalances only after the last transaction. From the balances, prove theaccounting equation.(b) Prepare a statement of financial position.2020.11.20 00:16 4. Angela De Dios, a business graduate student who was working in ThinkComputer Company selling all kinds of computers, decided to becomean entrepreneur and put up an internet shop. The following are thetransactions for March.01Angela started an internet shop called "Playnet.Com" by investing hersavings of P 50,000 and the proceeds from the sale of her car of P300,000.Angela hired two workers to assist her in the shop for a salary of P 3,00005per week.Mr. Lee, the lessor, required Angela to pay for two months' rent deposit,P 10,0001015 Paid P 15,000 for building materials to fix the shop, P 8,000 for furnitureand fixtures, P 45,000 for one-unit of aircon and two units of electric fanPurchased supplies for cash, P 1,500The shop was ready for the installation of the computer units. Angelapurchased units of computer hardware from Think PC. She paid 50% in2025Vision:Mission:A globally competitive university for science, technology, and environmental conservationDevelopment of a highly competitive human resource, cutting-edge scientific knowledoeand innovative technologies for sustainable communities and environment.2020.11.20 00:16

a. Ledger accounts in the books of Playnet.com Cash account Date Particulars Amount Date…

cash for P 150,000 and a note for the balance payable in 24 monthly installments starting April 20 Analyze the transactions using the following accounts for the assets and liabilities: Cash, Supplies, Rent Deposit, Furniture's & Fixtures, Equipment, Leasehold Improvement, Notes Payable, and De Dios Capital. Required (a) Use the format in Demonstration Problem No. 2 but extract the balances only after the last transaction. From the balances, prove the accounting equation. (b) Prepare a statement of financial position. 2020.11.20 00:16

cash for P 150,000 and a note for the balance payable in 24 monthly installments starting April 20 Analyze the transactions using the following accounts for the assets and liabilities: Cash, Supplies, Rent Deposit, Furniture's & Fixtures, Equipment, Leasehold Improvement, Notes Payable, and De Dios Capital. Required (a) Use the format in Demonstration Problem No. 2 but extract the balances only after the last transaction. From the balances, prove the accounting equation. (b) Prepare a statement of financial position. 2020.11.20 00:16

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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