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1 Mr. Lee invested P 1,000,000 and a equipment worth P 200,000 to start a restaurant.

2 Borrowed money from a bank, P 300,000.


3 Purchased food inventory on for cash, P 400,000.
4 Purchased food inventory on account, P 200,000.
5 Paid the rent for the month, P 20,000.
6 Purchased kitchen equipment on cash, P 30,000.
7 Sales on account were P 200,000. The cost of the food inventory sold was P 100,000.
8 Paid the 2 year fire insurance for P 24,000.
9 Purchased land for cash, P 350,000.
10 Cash sales were P 180,000. The cost of the food inventory sold was P 90,000.
11 Paid salaries of employees, P 25,000.
12 Mr. Lee withdrew cash for personal use, P 10,000.
13 Collected payment from customers in # 6, P 70,000.
14 Paid the supplier in # 4, P 80,000.

Show the effect of each of the above transactions [Plus sign (+) for addition,
Minus sign (-) for subtraction] in the transaction analysis table provided.
1 Miss Colleen Pomada invested P 500,000 and a equipment worth P 200,000 to start a catering business.
2 Borrowed money from a bank, P 50,000. PharAd&Mgt 2
3 Rendered services to customers for cash, P 50,000. MTH 9:00 - 10:30 AM- MIDES HALL
4 Purchased supplies on account, P 4,000. Mr. Rhandy M. Oyao, CPA, MBA
5 Paid the rent for the month, P 10,000. Name: ________________________________________
6 Purchased furniture, tables and chairs paying P 20,000 cash. Date: _____________________________
7 Rendered services to customers on account, P 60,000. Course and Year : _______________________________
8 Paid the utilities for the month P 3,000.
9 Purchased land for cash, P 250,000.
10 Provided catering services to clients receiving P 30,000 cash.
11 Paid salaries of employees, P 15,000.
12 Miss Colleen Pomada withdrew cash for personal use, P 10,000.
13 Collected payment from customers in # 7, P 40,000.
14 Paid the supplier in # 4, P 3,000.

Show the effect of each of the above transactions [Plus sign (+) for addition, Minus sign (-) for subtraction] in the transaction analysis table
provided. Write the ending balances of each account at the bottom of the table. Check if total assets is equal to Liabilities + Equity.

ASSETS = LIABLITIES + OWNER'S EQUITY


Cash + Accounts + Supplies + Furniture + Land + Equipment = Accounts + Notes + Pomada, - Pomada, + Revenue -
Receivable & Fixture Payable Payable Capital Drawings
1
2
3
4
5
6
7
8
9
10
11
12
13
14

Balance
___________

___________

QUITY
Expenses
Date Description Debit
Credit