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Balance Balance Balance Balance Balance Balance Balance Balance

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The document shows the transactions of a business owner over multiple steps. It tracks the opening of a business bank account, purchases, payments, deposits, withdrawals, and expenses to ultimately show the impact on the business owner's equity.

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© All Rights Reserved
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Download as xlsx, pdf, or txt

Balance Balance Balance Balance Balance Balance Balance Balance

Uploaded by

Florentino
8 views4 pages
The document shows the transactions of a business owner over multiple steps. It tracks the opening of a business bank account, purchases, payments, deposits, withdrawals, and expenses to ultimately show the impact on the business owner's equity.

Original Title

LAB

Copyright

© © All Rights Reserved

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XLSX, PDF, TXT or read online from Scribd

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The document shows the transactions of a business owner over multiple steps. It tracks the opening of a business bank account, purchases, payments, deposits, withdrawals, and expenses to ultimately show the impact on the business owner's equity.

Copyright:

© All Rights Reserved
Download as XLSX, PDF, TXT or read online from Scribd
Download as xlsx, pdf, or txt
8 views4 pages

Balance Balance Balance Balance Balance Balance Balance Balance

Uploaded by

Florentino
The document shows the transactions of a business owner over multiple steps. It tracks the opening of a business bank account, purchases, payments, deposits, withdrawals, and expenses to ultimately show the impact on the business owner's equity.

Copyright:

© All Rights Reserved
Download as XLSX, PDF, TXT or read online from Scribd
Download as xlsx, pdf, or txt
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Transactions

a. Opened a business bank account with a deposit of P18,000 from personal funds
b. Purchased office supplies on account, P3,200
Balance
c. Paid creditor on account, P1,800
Balance
d. Earned sales commissions, receiving cash P36,750
Balance
e. Paid rent on office and equipment for the month, P4,000
Balance
f. Withdrew cash for personal use, P3,000
Balance
g. Paid automobile expenses for the month, P2,500. And miscellaneous expenses, P1,200
Balance
h. Paid office salaries, P3,750
Balance
i. Determined that the cost of supplies on hand was P1,550; therefore, the cost of supplies used was P1,650.
Balance
ASSETS = LIABILITIES +

M. Ganigan, M. Ganigan,
Cash + Supplies = Accounts Payable + Capital - Drawing
18,000.00 18,000.00
3,200.00 3,200.00
18,000.00 3,200.00 3,200.00 18,000.00 -
- 1,800.00 - 1,800.00
16,200.00 3,200.00 1,400.00 18,000.00
36,750.00
52,950.00 3,200.00 1,400.00 18,000.00 -
- 4,000.00
48,950.00 3,200.00 1,400.00 18,000.00 -
- 3,000.00 3,000.00
45,950.00 3,200.00 1,400.00 18,000.00 3,000.00
- 3,700.00
42,250.00 3,200.00 1,400.00 18,000.00 3,000.00
- 3,750.00
38,500.00 3,200.00 1,400.00 18,000.00 3,000.00
- 1,650.00
38,500.00 1,550.00 1,400.00 18,000.00 3,000.00
OWNER'S EQUITY

+ Sales Commision - Rent Expense - Salaries Expense - Auto Expense -

- - - - -

- - - - -
36,750.00
36,750.00 - - - -
4,000.00
36,750.00 4,000.00 - - -

36,750.00 4,000.00 - - -
2,500.00
36,750.00 4,000.00 - - 2,500.00
3,750.00
36,750.00 4,000.00 - 3,750.00 2,500.00

36,750.00 4,000.00 - 3,750.00 2,500.00


Supplies Expense - Misc. Expense

- -

- -

- -

- -

- -
1,200.00
- 1,200.00

- 1,200.00
1,650.00
1,650.00 1,200.00

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