The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement

The following are the transaction of Anton Repair Shop: 1. J. Anton invested P200,000 in a repair shop in Quezon City. 2. Tools bought in cash P50,000. 3. Furniture bought on credit from Y Furniture P14,000. 4. Rent building space paid P11,000. 5. Cash received for car repairs of customers P14,000. 6. The car of the customer, Pedro Malit, was repaired for which was billed for P2,800. 7. Telephone bill paid P2,180. 8. Light and water expenses paid P3,320. 9. Additional tools bought on credit from Y Tools, P12,000. 10. Partial payment of debt to X Furniture, P2,500 11. Partial collection of claim from Pedro Malit, P1,800. 12. Anton took P500 cash from the business for his household expenses. Required: a. Financial Transaction Worksheet b. Financial Statement: Trial Balance Income statement

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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AutoSave Off H Document2 - Word P Search (Alt+Q) Sign in File Design References Mailings Review View Help Grammarly Picture Format P Comments A Share Home Insert Draw Layout P Find - - A A Aa v A = - E - E G Times New Roman v 12 Normal No Spacing Heading 1 Replace = = 1E v Editor Open Grammarly Paste BIU I U v - 2. A - ab x, x' A . A Select v Undo Clipboard a Font Paragraph Styles Editing Editor Grammarly a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at year-end? Assets Liabilities Equity Beginning $ 200,000 = 150,000 Change 80,000 = 46,000 + Ending Page 1 of 1 O words Text Predictions: On * Accessibility: Good to go O Focus 110% 9:58 PM P Type here to search 49°F 3/20/2022 近

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ompatibility Mode - Word Search Rafael Luna RL File Home Insert Draw Design Layout References Mailings Review View Help Share Comments X Times New Rom 12 AA Aa A E ALT Find Sc Replace Select AaBbCcl AaBbc AaBbCd AaBbCc. AaBbCcD Emphasis Heading 1 1 Normal Strong Subtitle Paste BIU Dictate ab x, X? ADA Sensitivity Editor Clipboard Font Paragraph Styles Editing Voice Sensitivity Editor Two projects are competing for funding at your company. The current interest rate is 5%. Project A is an Energy Saving project that costs $15,000. It doesn't save any money in Year 1. but begins in Year 2 at $1000, Year 3 at $2000, Year 4 at $3000, and Year 5 at $4000. Project B is a Water Saving project that costs $13,500. It begins saving money in Year 1 through 4 at $3000. f. Draw the cash flow diagrams g. Which should you select as the best economic alternative? Show your calculations for both alternatives for credit (and use the compound interest tables, not formulas) to justify your answer. Pay close…
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