A. Show the effects on the accounting equation. Write + for increase, - for decreaseand NC for No Change.ASSETS LIABILITIESEQUITY1. Edwin opened a dental clinic by investing 1 Million pesos.+NC2. Borrowed 100,000 from BDO Bank3. Invested a dental chair worth #300,0004 Bought from Furniture Co. tables worth970,000. PaidB10,000 cash and the balance on account5. Withdrew 9,000 for personal use6. Purchased cabinets for #15,000 in cash7. Paid his account to Furniture Co. in full

Accounting equation is the basics of dual entry system. It is said that, accounting equation is the…

A. Show the effects on the accounting equation. Write + for increase, -for decrease and NC for No Change. ASSETS LIABILITIES EQUITY 1. Edwin opened a dental clinic by investing 1 Milion pesos. 2 Borrowed 100,000 from BDO Bank NC 3. Invested a dental chair worth #300,000 4. Bought from Furníture Co. tables worth 970,000. Paid B10,000 cash and the balance on account 5. Wthdrew 9,000 for personal use 6. Purchased cabinets for #15,000 in cash 7. Paid his account to Furniture Co. in full

A. Show the effects on the accounting equation. Write + for increase, -for decrease and NC for No Change. ASSETS LIABILITIES EQUITY 1. Edwin opened a dental clinic by investing 1 Milion pesos. 2 Borrowed 100,000 from BDO Bank NC 3. Invested a dental chair worth #300,000 4. Bought from Furníture Co. tables worth 970,000. Paid B10,000 cash and the balance on account 5. Wthdrew 9,000 for personal use 6. Purchased cabinets for #15,000 in cash 7. Paid his account to Furniture Co. in full

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 5SEQ: Which of the following transactions changes only the mix of assets and does not affect liabilities...

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