DRILL 5 Give the effect of the following transactions on the accounting equation: 1. Owner invested cash in the business. 2. Rendered services for cash 3. Purchased supplies for cash 4. Rendered services on account to Ms. Go 5. Purchased furniture on account from Linden Teak 6. Collected payment from Ms. Go 7. Partial payment made to Linden Teak 8. Owner invested computer in the business. 9. Paid Linden Teak in full 10. Owner withdrew cash for personal use. 11. Owner withdrew supplies for personal use. 12. Received PLDT bill for telephone services 13. Paid PLDT bill for telephone services 14. Rendered services to Mr. Sy on account 15. Received note for services rendered to Ms. Ann 16. Ms. Ann paid interest for the note. 17. Ms. Ann paid the note in full. 18. Mr. Sy issued note in lieu of his account. 19. Received partial payment from Mr. Sy 20. Paid electricity bill to MERALCO

DRILL 5 Give the effect of the following transactions on the accounting equation: 1. Owner invested cash in the business. 2. Rendered services for cash 3. Purchased supplies for cash 4. Rendered services on account to Ms. Go 5. Purchased furniture on account from Linden Teak 6. Collected payment from Ms. Go 7. Partial payment made to Linden Teak 8. Owner invested computer in the business. 9. Paid Linden Teak in full 10. Owner withdrew cash for personal use. 11. Owner withdrew supplies for personal use. 12. Received PLDT bill for telephone services 13. Paid PLDT bill for telephone services 14. Rendered services to Mr. Sy on account 15. Received note for services rendered to Ms. Ann 16. Ms. Ann paid interest for the note. 17. Ms. Ann paid the note in full. 18. Mr. Sy issued note in lieu of his account. 19. Received partial payment from Mr. Sy 20. Paid electricity bill to MERALCO

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 3SEA: ANALYSIS OF T ACCOUNTS Richard Gibbs began a business called Richards Shoe Repair. 1. Create T...

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