Name: Jennylene A.

Mantong BSA1A Subject: Acctg 111A/7:30-10:30

Date: September 16, 2020

Test 1; Problem solving

1. If assets increased by 150,000.00 and liabilities decreased by 75,000.00. How much is the
amount increase or decrease in the owner's equity? 225,000.00
2. If assets increased by 150,000.00 and liabilities increased by 75,000.00. How much is the
amount increase or decrease in the owner's equity? 75,000.00
3. If assets decreased by 150,000.00 and liabilities decreased by 75,000.00. How much is the
amount increase or decrease in the owner's equity? 75,000.00
4. If assets decreased by 150,000.00 and liabilities increased by 75,000.00. How much is the
amount increase or decrease in the owner's equity? 225,000.00
5. If assets increased to 150,000.00 and liabilities increased to 75,000.00. How much is the
amount increase or decrease in the owner's equity? 75,000.00

Test 11: How much the answer those ? question…

1. If profit is 10,000 which is 20% of Revenue or income.

How much is revenue? 50,000
How much is expenses? 40,000

2. Income less Expenses = Net income

Net Loss or
Breakeven
____________________________________________________
Case 1 350,000 - 175,000 = 50%
Case 2 450,000 - 60% = 180,000
Case 3 150,000 - 100% = 0
Case 4 43,750 - 75% = 25,000

3. Assets = Liabilities + Owner's equity

Case 1 550,000 = 398,750 + 27.5%
Case 2 650,000 = 60% + 260,000
Case 3 300,000 = 50% + 150,000
Case 4 43,750 = 75% + 25,000

Test lll: Lisa Valdez is engaged in the business of Chairs and Tables rental for all occasions.
The following were the transactions of Miss Lisa Valdez for the month of June 2017. Determine
the value received (Debit) or value partied with (Credit) on the following transactions.

June 1. 2007 She made the following investments:

Cash 75,000.00
 Tables and chairs 100,000.00
Debit Cash P75,000.00 _
Tables and Chairs P100,000.00_
Credit L. Valdez, Capital P175,000.00

3 Received cash for rental of tables and chairs, P15,000.00.

Debit Cash P15,000.00
Credit Service Revenue P15,000.00

13 Paid space rental for the month, P2,500.

Debit Rent Expense P2,500
Credit Cash P2,500

14 Liza Valdez withdrew cash of P20,000 to buy a computer for her personal use.
Debit L. Valdez, Drawing P20,000
Credit Cash P20,000

15 Bought office supplies on account, P5,000.

Debit Office Supplies P5,000
Credit Accounts Payable P5,000

16 Rendered service to client for table and chairs rental on account, P10,000.
Debit Accounts Receivable P10,000
Credit Service Revenue P10,000

20 Partial collection of account on June 16. P8,000.

Debit Cash P8,000
Credit Accounts Receivable P8,000

25 Partial payment of account, P4,000.

Debit Accounts Payable P4,000
Credit Cash P4,000

30 Paid salaries for the month;

Salaries 6,000.00
Less: Deductions
SSS 200.00
Philhealth 75.00 275.00
Net Payroll 5,725.00
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Debit Salaries Expense P6,000.00

Credit SSS Premium Payable P200.00
Philhealth Premium Payable P75.00
Cash P5,725.00
30 Employer share on SSS, 300.00 Philhealth 75.00.

Debit SSS Contribution P300.00

Philhealth Contribution P75.00
Credit SSS Premium Payable P300.00
Philhealth Premium Payable P75.00