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ANSWER-KEY-Accounting-Equation-Analysis-of-Transactions-BSA.docx

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UNIVERSITY OF CEBU-BANILADCOLLEGE OF ACCOUNTANCYBANILAD, CEBU CITYAccounting 111(Accounting Equation & Analysis of Transactions)Name ________________________ Course & Yr. __________ Schedule _______________ Score ________A. On the space provided, indicate acheck markas to the effect on the balances of the following accounts.IncreasedDecreasedSample : Cash in Bank account was debited√_____________1. Notes Receivable account was debited____√______________2. Accounts Payable account was debited_____________√_____3. Meriam Narbarte, Capital account was credited____√______________4. Rent Expense account was debited____√______________5. Petty Cash Fund account was debited____√______________6. Accounts Receivable account was debited____√______________7. Meriam Narbarte, Drawing account was debited____√______________8. Accounts Payable account was credited____√______________9. Prepaid Insurance account was credited_____________√_____10. Insurance Expense account was debited____√______________11. Notes Payable account was debited_____________√_____12. Accounts Receivable account was credited_____________√_____13. Cash in Bank account was credited_____________√_____14. Professional Income account was credited____√______________15. Unearned Service Income was credited____√______________B. On the space provided, indicate aon what has been done in each of the account which resulted to haveincreasedordecreasedin its balance.Debited_Credited_Sample : Cash in Bank account was increased by P2,000√_____________1. Casiano Rebucas, Capital account increased by P1,500____________√______2. Prepaid Insurance account decreased by P3,000____________√______3. Accounts Receivable account increased by P300___√______________4. Accounts Payable account decreased by P750___√_______________5. Cash in Bank account decreased by P8,450____________√_____6. Accounts Payable account increased by P10,050____________√______7. Accounts Receivable account decreased by P500____________√______8. Rent Expense account increased by P250___√_______________9. Service Income account increased by P700____________√_____10. Salaries Expense account increased by P5,000___√_______________11. Notes Payable account increased by P9,750____________√______12. Notes Receivable account decreased by P450____________√______13. Building account increased by P45,000___√_______________14. Unused Supplies account decreased by P2,450____________√______15. Casiano Rebucas, Drawing account increased by P800___√_______________C. Determine whether the cause of changes in the previous balances of the given accounts were due to “

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