3. A list of transactions appears below. Indicate which accounting elements of the business are affected by placing in the columns the amount and the + (increase) or - (decrease) sign or N/A, if the element is not affected. April is the owner-manager of April Pizza. Unless otherwise stated, the transaction is all for the business. Transactions Assets Liabilities Owner's Equity April received a retirement pay of P 1,000,000 cash and invested half of this to put up his business From the remaining P 500,000, she got a car for her own use. P 750,000 and the issued a note for balance She hired a cook, a cashier, and a server for a monthly salary of P 10,000 each worker She bought cooking equipment and paid P 350,000 She bought office equipment from Best Shop for P 120,000 on credit She paid a third of the account due to Best Shop She took P 5,000 and bought supplies 2020.11.20 00:15

3. A list of transactions appears below. Indicate which accounting elements of the business are affected by placing in the columns the amount and the + (increase) or - (decrease) sign or N/A, if the element is not affected. April is the owner-manager of April Pizza. Unless otherwise stated, the transaction is all for the business. Transactions Assets Liabilities Owner's Equity April received a retirement pay of P 1,000,000 cash and invested half of this to put up his business From the remaining P 500,000, she got a car for her own use. P 750,000 and the issued a note for balance She hired a cook, a cashier, and a server for a monthly salary of P 10,000 each worker She bought cooking equipment and paid P 350,000 She bought office equipment from Best Shop for P 120,000 on credit She paid a third of the account due to Best Shop She took P 5,000 and bought supplies 2020.11.20 00:15

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 1P

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