Indicate the effects of the transactions the form below & determine the ending balance of the accounts. (PS: don't mind the numbers that i wrote) Exercise 6Dominic Puzon has just passed the bar exam and started practicing law. Beloware his first month's transactions.1 Began business by investing P 50,000 cash and land with a valueof P 200,000.4 Purchased P7,500 worth of supplies on account.9 Obtained a bank loan of P 500,000.15 Bought laptop computers on account for P 49,000.17 Paid salaries for month, P 1,90021 Purchased printing equipment for P 15,000 cash.24 Paid P25,000 of the outstanding liability for the purchase ofcomputers on January 15.29 Constructed a building on the land, P 400,000.31 Paid one year insurance premium of the building P 4,000.JanIndicate the effects of the transactions in the form below and determine theending balances of the accounts.Owner'sLiabilitiesAssetsPrepaidJan. Cash Supplies Insurance Equipment Land BuildingEquityOwner'sOfficeOfficeAccountsLoansPayable PayableCapital250 0004151,901715,024 5 )29 4 K31 4,n10.

The double entry system is used by the accountants to record the transactions into books of accounts…

Answered: Indicate the effects of the…

Business

Accounting

Indicate the effects of the transactions the form below & determine the ending balance of the accounts.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter1: Starting A Proprietorship: Changes That Affect The Accounting Equation

Section1.1: Accounting In Action

Problem 1WT

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