Construct an analysis of the following transaction and use the table:Assets =Liabilities +Owner's Equity Account titleDebitCredit Account titleDebitCredit Account titleDebitCredit Mrs. Mason completed these transactions during the first month of her business’s operations:DateTransactionsApril 2Talas invested P14,000 cash to start her business.2Paid monthly rent, P5003Paid cash for a Dell computer, P2,000. 4Purchased office furniture on account, P3,600.10Purchased supplies on account, P300.15Performed service to customers on account, P1,70022Paid salaries, P20025Performed service for customers and received cash for the full amount of P80026Paid P1,000 for the office furniture purchased on September 4 and gave a note payable for the remaining accounts payable30Received P1,500 from customers billed before.

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Description: Construct an analysis of the following transaction and use the table:Assets =Liabilities +Owner's Equity Account titleDebitCredit Account titleDebitCredit Account titleDebitCredit Mrs. Mason completed these transactions during the first month of h

Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Answered: Construct an analysis of the following…

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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Construct an analysis of the following transaction and use the table:

Assets			=	Liabilities			+	Owner's Equity
Account title	Debit	Credit		Account title	Debit	Credit		Account title	Debit	Credit

Mrs. Mason completed these transactions during the first month of her business’s operations:

Date	Transactions
April 2	Talas invested P14,000 cash to start her business.
2	Paid monthly rent, P500
3	Paid cash for a Dell computer, P2,000.
4	Purchased office furniture on account, P3,600.
10	Purchased supplies on account, P300.
15	Performed service to customers on account, P1,700
22	Paid salaries, P200
25	Performed service for customers and received cash for the full amount of P800
26	Paid P1,000 for the office furniture purchased on September 4 and gave a note payable for the remaining accounts payable
30	Received P1,500 from customers billed before.

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