Lesson 6B Aetivity: Analyze the following transactions using Accounting Equation version 2. 1. Mr. Grey started an Electronic Repair Shop by investing P350,000- 2. Paid rent of the shop, P7,500 cash. 3. He acquired table, chairs, shelves and other furniture from E. Enterprise for a total of P90,000, paying P47,000 cash and the remaining balance on account. 4. Bought equipment for P23,500 cash. 5. Completed repair work for Carmela worth P9,700 receiving half of the total amount and the remaining balance on credit..
Lesson 6B Aetivity: Analyze the following transactions using Accounting Equation version 2. 1. Mr. Grey started an Electronic Repair Shop by investing P350,000- 2. Paid rent of the shop, P7,500 cash. 3. He acquired table, chairs, shelves and other furniture from E. Enterprise for a total of P90,000, paying P47,000 cash and the remaining balance on account. 4. Bought equipment for P23,500 cash. 5. Completed repair work for Carmela worth P9,700 receiving half of the total amount and the remaining balance on credit..
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Create an
![OCI
Lesson 6B Activity:
Analyze the following transactions using Accounting Equation
version 2.
1. Mr. Grey started an Electronic Repair Shop by investing
P350,000-
2. Paid rent of the shop, P7,500 cash.
3. He acquired table, chairs, shelves and other furniture from E.
Enterprise for a total of P90,000, paying P47,000 cash and the
remaining balance on account.
4. Bought equipment for P23,500 cash.
5. Completed repair work for Carmela worth P9,700 receiving half
of the total amount and the remaining balance on credit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c27b114-8e9b-4823-9bb2-3cae4c8d8657%2Fa287ca5c-f526-4d3b-87f2-ef35d49077d8%2Fzzabkwq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:OCI
Lesson 6B Activity:
Analyze the following transactions using Accounting Equation
version 2.
1. Mr. Grey started an Electronic Repair Shop by investing
P350,000-
2. Paid rent of the shop, P7,500 cash.
3. He acquired table, chairs, shelves and other furniture from E.
Enterprise for a total of P90,000, paying P47,000 cash and the
remaining balance on account.
4. Bought equipment for P23,500 cash.
5. Completed repair work for Carmela worth P9,700 receiving half
of the total amount and the remaining balance on credit.
![OCI
6. Issued promissory note to E. Enterprise.
7. Paid wages of the helpers, P10,000.
8. Carmela sent a promissory note to apply on her account
in no. 5.
9. Rendered repair service to various customers, P34,000
cash.
10.Mr. Grey withdrew P2,000 for personal use.
USE:
Cash + Accounts Receivable + Notes Receivable + Furniture + Equipment
Accounts Payable + Notes Payable + Grey, Capital
%3D](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c27b114-8e9b-4823-9bb2-3cae4c8d8657%2Fa287ca5c-f526-4d3b-87f2-ef35d49077d8%2Fn75xwdv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:OCI
6. Issued promissory note to E. Enterprise.
7. Paid wages of the helpers, P10,000.
8. Carmela sent a promissory note to apply on her account
in no. 5.
9. Rendered repair service to various customers, P34,000
cash.
10.Mr. Grey withdrew P2,000 for personal use.
USE:
Cash + Accounts Receivable + Notes Receivable + Furniture + Equipment
Accounts Payable + Notes Payable + Grey, Capital
%3D
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