Homework Help is Here – Start Your Trial Now!
Business
Accounting
indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. 1 2 3 4 5 Transaction Purchased supply on a cash Borrowed cash from a bank Sold merchandise for cash Paid utility expense Received cash from a customer Assets Liability Equity

indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. 1 2 3 4 5 Transaction Purchased supply on a cash Borrowed cash from a bank Sold merchandise for cash Paid utility expense Received cash from a customer Assets Liability Equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
DEPARTMENT OF EOUCATION DIVISION OF LIPA A 75%i 12:04 EDUCATION OF DepEd Schools Division of Lipa City | City DEPARTMENT 19 68 *DIVISION ELMS Delivery Platform v2.0 *LIPA CITY indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. Transaction |1 Purchased supply on a cash Assets Liability Equity Borrowed cash from a bank 3 Paid utility expense 5 Sold merchandise for cash 4 Received cash from a customer Activity 4 Problem Solving Below is a situation to show how the accounting equation will be affected. You are tasked to determine the assets, liabilities, equity, revenue, and expenses. The initial investment of the owner in his business is cash of P100,000.00. At the end of each year, the total assets of the business amounted to P125,000.00 this consists of P75,000.00 cash. On the first month of its operations, the owner purchased an equipment worth P50,000 she paid P30,000 as a down payment and the rest will be paid in the succeeding PIVOT LEARNER'S PACKET (LeaP) KS4 month. She received P10,000.00 cash from its client and paid an expense of P4,000.00. Show how the transactions affect the accounting equation. Assets = Liability + Equity Expenses Revenue V. ASSESSMENT (Learning Activity Sheets Enrichment, Remediation Assessment to be given on Weeks 3 and 6) VI. REFLECTION 10 mins Answer Exercises 6-9 number 2 on page 60 of your Textbook. Write your answer in your notebook. for or You will communicate the explanation of your personal assessment as indicated in the Learner's Assessment Card. You will write your personal insights about the lesson using the prompts below. I understand that I realize that I need to learn more about 5 mins Checked by: Dr. Josephine Canlas, Adara G. del Mundo, Cherrie Logatoc Prepared by: Eva C. Topacio, SDO Imus City Go Back
Transcribed Image Text:DEPARTMENT OF EOUCATION DIVISION OF LIPA A 75%i 12:04 EDUCATION OF DepEd Schools Division of Lipa City | City DEPARTMENT 19 68 *DIVISION ELMS Delivery Platform v2.0 *LIPA CITY indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. Transaction |1 Purchased supply on a cash Assets Liability Equity Borrowed cash from a bank 3 Paid utility expense 5 Sold merchandise for cash 4 Received cash from a customer Activity 4 Problem Solving Below is a situation to show how the accounting equation will be affected. You are tasked to determine the assets, liabilities, equity, revenue, and expenses. The initial investment of the owner in his business is cash of P100,000.00. At the end of each year, the total assets of the business amounted to P125,000.00 this consists of P75,000.00 cash. On the first month of its operations, the owner purchased an equipment worth P50,000 she paid P30,000 as a down payment and the rest will be paid in the succeeding PIVOT LEARNER'S PACKET (LeaP) KS4 month. She received P10,000.00 cash from its client and paid an expense of P4,000.00. Show how the transactions affect the accounting equation. Assets = Liability + Equity Expenses Revenue V. ASSESSMENT (Learning Activity Sheets Enrichment, Remediation Assessment to be given on Weeks 3 and 6) VI. REFLECTION 10 mins Answer Exercises 6-9 number 2 on page 60 of your Textbook. Write your answer in your notebook. for or You will communicate the explanation of your personal assessment as indicated in the Learner's Assessment Card. You will write your personal insights about the lesson using the prompts below. I understand that I realize that I need to learn more about 5 mins Checked by: Dr. Josephine Canlas, Adara G. del Mundo, Cherrie Logatoc Prepared by: Eva C. Topacio, SDO Imus City Go Back
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS