CTIONS CREDIT VALUE PARTIED WITH Example: On Oct. 1, 2019 Mr. invested cash into his business to engage in received: Increase in Asset Debit Cash Credit Capital SA Value Reyes cash Value partied with: Increase in Owner's Capital (cash) Equity ( Capital) an "Internet Café" Example: Paid salaries UA Value received: Decrease OE Debit Salaries in
CTIONS CREDIT VALUE PARTIED WITH Example: On Oct. 1, 2019 Mr. invested cash into his business to engage in received: Increase in Asset Debit Cash Credit Capital SA Value Reyes cash Value partied with: Increase in Owner's Capital (cash) Equity ( Capital) an "Internet Café" Example: Paid salaries UA Value received: Decrease OE Debit Salaries in
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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SA- source of assets
UA- use of asset
EA- exchange of asset
EC- exchange of claims
Transcribed Image Text:TRANSACTIONS
ΤΥΡE ΟF
VALUE
EFFECT
WHAT TO DEBIT
TRANSA
RECEIVED AND
AND WHAT TO
CTIONS
VALUE PARTIED
CREDIT
WITH
Example: On Oct. 1,
Mr.
invested cash into his
business to engage in
an "Internet Café"
Example: Paid salaries
to employees
received: Increase
|(cash)
Value partied with: Increase in Owner's
Asset Debit Cash
Credit Capital
SA
Value
in
2019
Reyes
cash
Capital
Equity ( Capital)
received: Decrease
OE Debit
Еxpense
UA
Value
in
Salaries
Salaries Expense
(Salaries Expense)
Value partied with: Decrease in Asset Credit Cash
(Cash)
Cash
1
Oct. 2, 2019 Paid one
month
rental
of
internet space
On Oct. 3, 2019 he
bought 4 computer
units for cash
Oct. 4, 2019 Paid
deposit to Davao Light
for
3
the
light
connection
On Oct. 5, paid the
business permit and
BIR Registration
On Oct. 5, Bought
supplies
internet shop in cash
(Asset Approach)
On Oct. 6, he paid one
4
5
for
the
6.
month
internet
connection
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