in f) above. Angela De Dios, a business graduate student who was working as a mere employee in a company called Think Computer, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 01 Angela started an internet shop called "Playnet.com" by investing her savings of P50,000 and the proceeds from the sale of her car of P300,000. 05 Angela hired two workers to assist her in the shop. 10 Two months rent deposit was paid in cash, P10,000. 15 Paid PI5.000 for building materials to fix the shop, P8,000 for furniture, P45,000 for one unit of air con
in f) above. Angela De Dios, a business graduate student who was working as a mere employee in a company called Think Computer, decided to become an entrepreneur and put up an internet shop. The following are the transactions for the month of March: 01 Angela started an internet shop called "Playnet.com" by investing her savings of P50,000 and the proceeds from the sale of her car of P300,000. 05 Angela hired two workers to assist her in the shop. 10 Two months rent deposit was paid in cash, P10,000. 15 Paid PI5.000 for building materials to fix the shop, P8,000 for furniture, P45,000 for one unit of air con
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please provide the
Transcribed Image Text:and write the accounting
equation. Prove if the net worth is the same as in f) above.
16. Angela De Dios, a business graduate student who was working as a mere employee in a
company called Think Computer, decided to become an entrepreneur and put up an
internet shop. The following are the transactions for the month of March:
01 Angela started an internet shop called "Playnet.com" by investing her savings of
P50,000 and the proceeds from the sale of her car of P300,000.
05 Angela hired two workers to assist her in the shop.
10 Two months rent deposit was paid in cash, P10,000.
15 Paid P15,000 for building materials to fix the shop, P8,000 for furniture, P45,000
for one unit of air con and two units of electric fan.
20 Purchased supplies for cash, P1,500.
25 The shop was ready for the installation of the computer units. Angela purchased
12 units of computer hardware from Think PC. She paid 50% in cash for P125,000
and a note for the balance payable in 24 mõnthly installments starting April 20..
Analyze the transactions using the following accounts for the assets and liabilities: Cash,
Supplies. Rent Deposit, Furniture and Fixtures. Equipment, Leasehold Improvement,
Notes Payable, and De Dios Capital. Use the C
What is the owner's net worth? Prepare a statement of financial position.
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