Jesther M.

Nasa-an BPA-2D

P-80

1. Analyze whether the transaction is accountable or not. Then identify the accounts that are
affected.

Transaction Accounts affected

1. The owner withdrew cash from the business. Owners’ drawings
Accountable Cash
2. The business obtained a loan from the bank. Cash
Accountable Accounts payable
3. Payment of the loan from the bank. Accounts payable
Accountable Cash
4. Sale on account. Accounts receivable
Accountable Sales
5. Purchase in cash. Purchases
Accountable Cash
6. Purchase on account. Purchases
Accountable Accounts payable
7. Sale for cash. Cash
Accountable Sales
8. Payment of salaries expense. Salaries expense
Accountable Cash
9. Payment of accounts payable. Accounts Payable
Accountable Cash
10. Purchase of inventory on account. Inventory
Accountable Accounts payable
11. Purchase of inventory in cash. Inventory
Accountable Cash
12. Purchase of equipment on account. Equipment
Accountable Accounts payable
13. Collection of receivables from customer. Cash
Accountable Accounts receivable
14. Payment of various small expenses. Expenses
Accountable Cash
15. The business posted a job hiring. N/A
Not Accountable N/A
16. Sale partly in cash and on account. Cash, Accounts
receivable
Accountable Sales
17. The dog of the owner won 2nd place in a pet N/A
contest.
Not Accountable N/A
 Journal

Date Account titles 1Debit Credit

1 Cash 600,000

Owners’ equity 600,000

2 Cash 400,000

Accounts payable 400,000

3 Inventory 200,000

Cash 200,000

4 Inventory 500,000

Accounts payable 500,000

5 Accounts receivable 900,000

Cost of goods sold 400,000

Revenue 900,000

Inventory 400,000

6 Accounts payable 400,000

Cash 400,000

7 Cash 500,000

Accounts receivable 500,000

8 Equipment 480,000

Cash 480,000

9 Owners Drawings 10,000

Cash 10,000

10 Interest expense 5,000

Cash 5,000