The Activity below is in reverse. Describe the given transactions Activity 3.2: The activty bebw is in reverse. Describe the given transaction.DateLIABILIIESCashP60,000150,000(20,000)(112.500)ASSETSSuppliesP7,500OWNER'SEQUITYP292,500150,000EquipmentP300,000BalanceP75,000220,000(112,500)45,0005,000(15,000)(15,000)(53,000)(53,000)(8,000)(8,000)Answer1.2.3.4.5.6.7.

The description of transactions is given hereunder :

Activity 3.2: The activty bebw is in reverse. Describe the given transaction. ASSETS Supplies P7,500 Date LIABILITIES OWNER'S Cash P60,000 150,000 (20,000) (112,500) Equipment P300,000 BOUITY P292,500 150,000 Balance P75,000 20,000 2 3 4. 5. (112,500) 5,000 5,000 (15,000) (53,000) (15,000) (53,000) (8,000) (8,000) Answer

Activity 3.2: The activty bebw is in reverse. Describe the given transaction. ASSETS Supplies P7,500 Date LIABILITIES OWNER'S Cash P60,000 150,000 (20,000) (112,500) Equipment P300,000 BOUITY P292,500 150,000 Balance P75,000 20,000 2 3 4. 5. (112,500) 5,000 5,000 (15,000) (53,000) (15,000) (53,000) (8,000) (8,000) Answer

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.12E: Financial statement items Identify each of the following items as (a) an asset, (h) a liability, (c)...

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