ACCOUNTSFURNITURES ACCOUNTSUTILIITESOWNER'STRANSACTIONCASHRECEIVABLES & FIXTURESPAYABLEPAYABLEEQUITY1. Mr. Chu invested P65,0002. Mr. Chu bought furnitures for his business worthP9,6753. Mr. Chu borrowed P47,000 from Ms. Chi to add tohis business4. Mr. Chu sold #31,850 worth of products on account5. Mr. Chu paid the water, electricity and internetbill worth, P900, P3200 and P1999, respectively6. Mr.Chu delivered orders and received payment ofP18,950 for the products7. Mr. Chu paid Ms. Chi P32,0008. Mr. Chu invested another P16,2009. Mr. Chu Paid Ms. Chi P43,000Total Assets:Total Liabilities:Total Owner's Equity:

The accounting equation states that assets equals to sum of liabilities and shareholders equity. It…

ACCOUNTS FURNITURES ACCOUNTS RECEIVABLES & FIXTURES UTIUITES OWNER'S TRANSACTION CASH PAYABLE PAYABLE EQUITY L. Mr. Chu invested P65,000 2. Mr. Chu bought furnitures for his business worth 9,675 . Mr. Chu borrowed P47,000 from Ms. Chỉ to add to mis business . Mr. Chu sold P31,850 worth of products on account . Mr. Chu paid the water, electricity and internet pill v Il worth, P900, P3200 and P1999, respectively . Mr.Chu delivered orders and received payment of P18,950 for the products . Mr. Chu paid Ms. Chỉ P32,000 3. Mr. Chu invested another P16,200 ). Mr. Chu Paid Ms. Chi P43,000 otal Assets: Fotal Liabilities: otal Owner's Equity:

ACCOUNTS FURNITURES ACCOUNTS RECEIVABLES & FIXTURES UTIUITES OWNER'S TRANSACTION CASH PAYABLE PAYABLE EQUITY L. Mr. Chu invested P65,000 2. Mr. Chu bought furnitures for his business worth 9,675 . Mr. Chu borrowed P47,000 from Ms. Chỉ to add to mis business . Mr. Chu sold P31,850 worth of products on account . Mr. Chu paid the water, electricity and internet pill v Il worth, P900, P3200 and P1999, respectively . Mr.Chu delivered orders and received payment of P18,950 for the products . Mr. Chu paid Ms. Chỉ P32,000 3. Mr. Chu invested another P16,200 ). Mr. Chu Paid Ms. Chi P43,000 otal Assets: Fotal Liabilities: otal Owner's Equity:

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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