Name: Francisco, Marilyn B.

II.
TRANSACTION CAS ACCOUNTS NOTES OFFICE ACCOUNTS LOAN KUMA
H RECEIVABLE RECEIVABLE EQUIPMEN PAYABLE PAYABLE CAPITAL
T
1. Kuma invested + +
P650, 000 cash.
2. sold old office + + +
equipment,
P10,000
3. rendered + +
services to Mr Go
on account
P10,000
4. Cash services to + +
clients P22,000
5. Bought P30,000 + - -
worth of office
equipment on
account
6. Received a note + +
from Mr Go for
account
7. Partial payment - -
of P12,000 for the
office equipment
bought In #5
8. Paid electric bill - -
to meralco, P1,800
9. Mr Go settled - + +
40% of the note.
10. Kuma made an - +
additional
investment of
P75,000
11. Paid for the - + -
office equipment
in full
12proceeds from + +
bank loan,
P100,000
13. Mr Go settled + +
the note in full
14. Kuma + -
withdrew P45, 000
cash.
15. paid 50% of the - -
bank loan
16. paid interest - -
on the bank loan
17. cash collections + + +
from various
customers

III.
ACCOUNTS AFFECTED EFFECTS ELEMENTS RULE AMOUNT
1. cash + ASSET DEBIT 550,000
Owners capital - OWNERS EQUITY CREDIT 550,000
2. cash - ASSET DEBIT 20,000
Owners capital + OWNERS EQUITY CREDIT 20,000
3.cash - ASSET DEBIT 36,000
Expenses + LIABILITIES CREDIT 36,000
4. cash - ASSET DEBIT 4,300
Supplies + ASSET DEBIT 4,300
Accounts payable + LIABILITIES CREDIT 4,300
5.Cash - ASSET DEBIT 90,000
Office equipment + ASSET DEBIT 90,000
Owners capital + OWNERS EQUITY CREDIT 90,000
6. cash - ASSET DEBIT 69,000
Accounts payable + LIABILITIES CREDIT 46,000
Owners capital - OWNERS EQUITY CREDIT 69,000
7. accounts payable + ASSET DEBIT 10,000
Owners capital + OWNERS EQUITY CREDIT 10,000
8. cash - ASSET DEBIT 46,230
Accounts payable - LIABILITIES CREDIT 46,230
Owners capital - OWNERS EQUITY CREDIT 46,230
9. cash + ASSET DEBIT 15,000
Owners drawing - OWNERS EQUITY CREDIT 15,000
10. cash + ASSET DEBIT 68,000
Owners capital + OWNERS EQUITY CREDIT 68,000
11.accounts receivable + ASSET DEBIT 9,000
Owners capital + OWNERS EQUITY CREDIT 9,000
12. cash - ASSET DEBIT 2,000
Owners capital - OWNERS EQUITY CREDIT 2,000
13. cash + ASSET DEBIT 9,000
Owners capital + OWNERS EQUITY CREDIT 9,000
14. cash + ASSET DEBIT 8,800
Accounts payable + ASSET DEBIT 8,800
Owners capital + OWNERS EQUITY CREDIT 8,800
15. cash - ASSET DEBIT 7,700
Owners capital - OWNERS EQUITY CREDIT 7,700
16. notes receivable + ASSET DEBIT 999
Owners capital + OWNERS EQUITY CREDIT 999
17. notes receivable + ASSET DEBIT 8,800
Owners capital + OWNERS EQUITY CREDIT 8,800
18. cash - ASSET DEBIT 999
Owners capital - OWNERS EQUITY CREDIT 999
19. cash - ASSET DEBIT 100,000
Owners capital + OWNERS EQUITY CREDIT 100,000
20. cash + ASSET DEBIT 8,800
Owners capital + OWNERS EQUITY CREDIT 8,800

DRILL 1
DATE D E B I T C R E D I T
[ 2016 ]
JANUA 1 Still a loks 0 0 0 0 0 0
RY capital
Office 6 7 0 0 0
equipment
2 Accounts 7 5 0 0 0
Receivable
Till a loks 7 5 0 0 0
capital
3 Transportatio 7 0 0 0 0 0
n, expenses
Account
payable
7 Cash 1 9 0 0 0 0
Till a loks 1 9 0 0 0 0
capital
15 Accounts 3 2 0 0 0
Receivable
Till a loks 3 2 0 0 0
capital
16 Transportatio 7 0 0 0 0 0
n expenses
Accounts
payable
18 Cash 1 5 0 0 0
Till a loks 1 5 0 0 0
capital
20 Note 9 0 8
receivable
Till a loks 9 0 8
capital
26 Cash 2 5 4 0
Till a loks 2 5 4 0
capital