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Which of the following transactions does not affect the balance sheet totals? Withdrawal of P75, 000 for personal use by the firm's owner Issuing a P250, 000 promissory note to apply on account Investing a P30, 000 worth of equipment

Which of the following transactions does not affect the balance sheet totals? Withdrawal of P75, 000 for personal use by the firm's owner Issuing a P250, 000 promissory note to apply on account Investing a P30, 000 worth of equipment

FINANCIAL ACCOUNTING
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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Please help me to answer this 2 questions.thank you

Which of the following transactions does not affect the balance sheet totals? Withdrawal of P75, 000 for personal use by the firm's owner Issuing a P250, 000 promissory note to apply on account Investing a P30, 000 worth of equipment into the business
Transcribed Image Text:Which of the following transactions does not affect the balance sheet totals? Withdrawal of P75, 000 for personal use by the firm's owner Issuing a P250, 000 promissory note to apply on account Investing a P30, 000 worth of equipment into the business
V Healing and Jin installed a P12, 000 healing system for one of its clients. The client pald 1/3 down and promised to pay the balance in 60 days. This transaction had the following effects on V's accounting equation: * Increase P12, 000; no change; increase P12. 000 increase P12, 000, increase P8, 000; increase P4, 000 Decrease P4, 000; increase P8, 000: decrease P12, 000 Increase P4, 00D; no change, increase P4, 00
Transcribed Image Text:V Healing and Jin installed a P12, 000 healing system for one of its clients. The client pald 1/3 down and promised to pay the balance in 60 days. This transaction had the following effects on V's accounting equation: * Increase P12, 000; no change; increase P12. 000 increase P12, 000, increase P8, 000; increase P4, 000 Decrease P4, 000; increase P8, 000: decrease P12, 000 Increase P4, 00D; no change, increase P4, 00
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