II. For each transaction indicate whether the assets, liabilities, or owner"s equityincreased (1), decreased (D) or Did not Change (NE).Liabilities Owner"sEquityAssets1 Purchase of supplies on credit2 Paid utility expense3 Received a loan granted by bank|4 Withdraws cash from the business5 Paid salaries and wages6 Received cash from customers as sales7 Receivedbusinesspromissory notefrom rental8 Paid advertising expense9 Paid P1,000 to creditors10 Billed customer for video rental• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise,(Publishing and Printing) Bakakeng Sur, Baguio City

Below is the effect of the transactions

II. For each transaction indicate whether the assets, liabilities, or owner"s equity increased (I), decreased (D) or Did not Change (NE). Liabilities Owner"s Equity Assets Purchase of supplies on credit 2 Paid utility expense Received a loan granted by bank Withdraws cash from the business Paid salaries and wages 1 6 Received cash from customers as sales 7 Received promissory note from rental business Paid advertising expense |9 Paid P1,000 to creditors 10 Billed customer for video rental 8 • Source: Ferrer R.C. et, al. (2017). Fundamentals of Accountancy. Business and Management part 1. Bandolin Enterprise N34t 5

II. For each transaction indicate whether the assets, liabilities, or owner"s equity increased (I), decreased (D) or Did not Change (NE). Liabilities Owner"s Equity Assets Purchase of supplies on credit 2 Paid utility expense Received a loan granted by bank Withdraws cash from the business Paid salaries and wages 1 6 Received cash from customers as sales 7 Received promissory note from rental business Paid advertising expense |9 Paid P1,000 to creditors 10 Billed customer for video rental 8 • Source: Ferrer R.C. et, al. (2017). Fundamentals of Accountancy. Business and Management part 1. Bandolin Enterprise N34t 5

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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finalacial accounting please give me the answer of this question thanks
II. For each transaction indicate whether the assets, liabilities, or owner"s equity increased (1), decreased (D) or Did not Change (NE). Liabilities Owner"s Equity Assets 1 Purchase of supplies on credit 2 Paid utility expense 3 Received a loan granted by bank 4 Withdraws cash from the business 5 Paid salaries and wages 6 Received cash from customers as sales 7 Received promissory note from rental business 8 Paid advertising expense Paid P1,000 to creditors 10 Billed customer for video rental 9. • Source:- Ferrer R C et al (20017) Fundamentals of Accountancy Business and Management part 1 Randolin Enternrise
For each transaction indicate whether the assets, liabilities, or owner’s equity increased (I), decreased (D) or Did not Change (NE). Business Transactions Assets Liabilities Owner’s Equity 1 Purchase of supplies on credit 2 Paid utility expense 3 Received a loan granted by bank 4 Withdraws cash from the business 5 Paid salaries and wages 6 Received from customers as sales 7 Received promissory note from rental business 8 Paid advertising expense 9 Paid P1,000 to creditors 10 Billed customer for video rental
Question 6?
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What are the debits and credits?