Require: 1. Analyze the following transactions and use the table below. 2. Indicate increases by positive figures; decreases by negative figure (in parenthesis). 3. Total money column and total each element of the accounting equation. Problem: 1. Mr. Vargas invested Php 600,000 cash to establish Papelmerotti Advertising Firm. 2. Made three months advance payment rent for office space, Php 30,000. 3. Water and Electricity amounting to Php 1,800 are paid. 4. Sent a bill to Disney Builders Co. worth Php 75,000 for advertising services rendered. 5. Bought for cash Php 10,000 worth of office chairs and tables. 6. Received Php 50,000 from Disney Builders Co. to apply of its account. 7. Mr. Vargas made additional investment in a form of computers worth Php 45,000. 8. Paid Php 35,000 for employees' salaries. 9. Bought office furniture for Php 15,000 on account. 10. Mr. Vargas withdrew Php 15,000 from the business for his personal use. ASSETS Liabilitie Owner's Equity No Cash Accounts Service Utilities Rent Salary Accounts Receivable Furniture and Vargas, Vargas, Payable Capital Drawing Income Expense Expense Expense Fixtures 1 2 3 4 5 6 7 8 9 Total Liabilities + Total Owner's Equity, 10 Tota I Total Assets Office Furnitur c

Require: 1. Analyze the following transactions and use the table below. 2. Indicate increases by positive figures; decreases by negative figure (in parenthesis). 3. Total money column and total each element of the accounting equation. Problem: 1. Mr. Vargas invested Php 600,000 cash to establish Papelmerotti Advertising Firm. 2. Made three months advance payment rent for office space, Php 30,000. 3. Water and Electricity amounting to Php 1,800 are paid. 4. Sent a bill to Disney Builders Co. worth Php 75,000 for advertising services rendered. 5. Bought for cash Php 10,000 worth of office chairs and tables. 6. Received Php 50,000 from Disney Builders Co. to apply of its account. 7. Mr. Vargas made additional investment in a form of computers worth Php 45,000. 8. Paid Php 35,000 for employees' salaries. 9. Bought office furniture for Php 15,000 on account. 10. Mr. Vargas withdrew Php 15,000 from the business for his personal use. ASSETS Liabilitie Owner's Equity No Cash Accounts Service Utilities Rent Salary Accounts Receivable Furniture and Vargas, Vargas, Payable Capital Drawing Income Expense Expense Expense Fixtures 1 2 3 4 5 6 7 8 9 Total Liabilities + Total Owner's Equity, 10 Tota I Total Assets Office Furnitur c

Name: Require:1. Analyze the following transactions and use the table below
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Description: Require:1. Analyze the following transactions and use the table below.2. Indicate increases by positive figures; decreases by negative figure (in parenthesis).3. Total money column and total each element of the accounting equation.Problem:1.Mr. Varg

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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