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  • Output 1 Accounting Equation Ibale Agu Am

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    Judea Santiago
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    Mrs. Precious Gift started a car wash business on January 1, 2019 with ₱100,000 cash and ₱30,000 equipment. On January 15, she borrowed ₱50,000 from a friend. She used ₱10,000 of the borrowed money to buy supplies. On January 17, the business earned ₱50,000 and paid ₱10,000 in salaries. On January 29, she bought a ₱30,000 cellphone for her mother's birthday. On January 30, she withdrew ₱20,000 from the business for a family vacation.

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    Mrs. Precious Gift started a car wash business on January 1, 2019 with ₱100,000 cash and ₱30,000 equipment. On January 15, she borrowed ₱50,000 from a friend. She used ₱10,000 of the borrowed money to buy supplies. On January 17, the business earned ₱50,000 and paid ₱10,000 in salaries. On January 29, she bought a ₱30,000 cellphone for her mother's birthday. On January 30, she withdrew ₱20,000 from the business for a family vacation.

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    50 views3 pages

    Output 1 Accounting Equation Ibale Agu Am

    Uploaded by

    Judea Santiago
    Mrs. Precious Gift started a car wash business on January 1, 2019 with ₱100,000 cash and ₱30,000 equipment. On January 15, she borrowed ₱50,000 from a friend. She used ₱10,000 of the borrowed money to buy supplies. On January 17, the business earned ₱50,000 and paid ₱10,000 in salaries. On January 29, she bought a ₱30,000 cellphone for her mother's birthday. On January 30, she withdrew ₱20,000 from the business for a family vacation.

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    © All Rights Reserved
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    of 3

    JUDEA C.

    SANTIAGO

    11 ABM – SILANG

    Mrs. Precious Gift started a car wash business on January 1, 2019. She
    invented cash amounting to ₱100,000 and one piece of cleaning
    equipment worth ₱30,000. Computed for the correct total owner’s
    equality as of January 1,2019.

    ASSET = LIABILITIES OWNER EQUALITY

    ₱100,000 0 ₱100,000
    CASH
    Ms. Gift,Capital

    ₱30,000

    EQUIPMENT

    On January 15. Ms. Gift borrowed ₱50,000 cash from her


    friend to increase the working capital.

    ₱50,000
    ₱50,000
    0

    cash Account Payable


    She used of ₱10,000 of the money borrowed to buy cleaning
    supplies on January 16.

    (₱10,000) 0(₱10,000)

    cleaning supplies Supplies expenes

    On January 17, she generates earning of ₱50,000 and paid salaries


    of ₱10,000

    ₱50,000
    0₱40,000
    cash

    (₱10,000)

    cash

    On January 29, Ms. Gift bought a new cellphone worth ₱30,000


    as birthday gift of her mother.

    0 (₱30,000)
    (₱30,000)
    new cellphone
    Ms .Gift, Personal

    She with draw worth ₱20,000 from business fund for her family
    vacation on January 30

    0 (₱20,000)
    (₱20,000)

    cash Ms. Gift, Drawing

    Ms.Gift,Capital

    (₱30,000)

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