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QUIZ_FINACRE.pdf - 1. The following are some transactions...

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1.The following are some transactions of Michael Sudan Services:ALOE1.received cash as additionalinvestment__+________0_______+___2.purchased supplies on account__+_______0______+___3.charged customers for services made onaccount__+________0_____+_____4.rendered services to cash customers ___+_______0________+____5.paid cash for rent on building ___-_______-________-___6.collected on accounts receivable infull__+_______0_______+____7.paid cash forsupplies __+_______0_____-_____8.returned supplies purchased on account __-______0_______0___9.paid cash to settle accounts. __+_______-_______0_____10.paid cash to owner for personal use ___-______0________+_____Required:For each transaction, indicate whether the assets (A), liabilities (L) or owner’s equity(OE) increased (+), decreased (-), or did not change (0) by placing the appropriate signin the appropriate column.Effects of Transactions2.The following selected transactions were completed by Roberto Orcajada DeliveryService during July 2019:__C__1. Cash received from delivery services, P92,700.__D__2. Paid creditors on account, P20,000.__A__3. Received cash from owner as additional investment, P600,000.

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Term
Summer
Professor
josep
Tags
Balance Sheet, Generally Accepted Accounting Principles

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