Problem II. Taehyung Kim had the following transactions for his fashion boutique. Use the accounting equation to show their effect on his Assets, Liabilities and Capital. a. Taehyung invested Php 600,000. b. Truck was purchased by business for Php 430,000. c. Equipment purchased on credit for Php 9,000. d. A bill of Php 7,200 for transporting goods was sent to Mr. Jin, a customer. e. Cash of Php 6,000 is received from the customer who was billed in d. f. Received Php 22,300 is cash for transporting goods. g. A payment of Php 5,000 was made on the equipment purchased in c. h. h. Paid expenses of different types for Php 1,700 in cash. i. Equipment of Php 1,200 was withdrawn from business for Taehyung Kim's personal use.

Problem II. Taehyung Kim had the following transactions for his fashion boutique. Use the accounting equation to show their effect on his Assets, Liabilities and Capital. a. Taehyung invested Php 600,000. b. Truck was purchased by business for Php 430,000. c. Equipment purchased on credit for Php 9,000. d. A bill of Php 7,200 for transporting goods was sent to Mr. Jin, a customer. e. Cash of Php 6,000 is received from the customer who was billed in d. f. Received Php 22,300 is cash for transporting goods. g. A payment of Php 5,000 was made on the equipment purchased in c. h. h. Paid expenses of different types for Php 1,700 in cash. i. Equipment of Php 1,200 was withdrawn from business for Taehyung Kim's personal use.

Name: Problem II. Taehyung Kim had the following transactions for his fashi
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Description: Problem II. Taehyung Kim had the following transactions for his fashion boutique. Use theaccounting equation to show their effect on his Assets, Liabilities and Capital.a. Taehyung invested Php 600,000.b. Truck was purchased by business for Php 430,

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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