October 1 Traevis is an accountant officer. After long years of being employed he decided to put upown business. He made an initial investment amounting to P500, 000 to start thisendeavor.Analysis:Asset isby POwner's Equity isbyRules of Debit and CreditAccounts to use (Cash: Traevis, Capital)Debit:Credit:P -October 8Acquired 1 computer for office use, P40,000Analysis:Asset isby PAnother Asset is.byRules of Debit and CreditAccounts to use (Cash: Computer Equipment)Debit:P.Credit:October 19Rendered service to Mr. Pan amounting to PI0,000 on accountAnalysis:Asset isby PRevenue isbyRules of Debit and CreditAccounts to use (Accounts Receivable: Service Income)Debit:Credit:P -

Name: October 1 Traevis is an accountant officer. After long years of being
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Description: October 1 Traevis is an accountant officer. After long years of being employed he decided to put upown business. He made an initial investment amounting to P500, 000 to start thisendeavor.Analysis:Asset isby POwner's Equity isbyRules of Debit and Cr

Journal refers to an account in which all the financial transactions pertaining to a business are…

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Business

Accounting

October 1 Traevis is an accountant officer. After long years of being employed he decided to put up his own business. He made an initial investment amounting to P500, 000 to s tart this endeavor.

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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