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  • Sample Transaction Accounting Equation

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    GO Services had various financial transactions in January 2022 including investing cash, rendering services, collecting and receiving accounts, purchasing supplies on credit, borrowing money, purchasing property and equipment, paying bills, adding additional investments, withdrawing funds, and ordering and receiving supplies on account. The net balance of GO Services' accounting equation as of January 30, 2022 was Php 873,200.

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    Sample Transaction Accounting Equation (2)

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    GO Services had various financial transactions in January 2022 including investing cash, rendering services, collecting and receiving accounts, purchasing supplies on credit, borrowing money, purchasing property and equipment, paying bills, adding additional investments, withdrawing funds, and ordering and receiving supplies on account. The net balance of GO Services' accounting equation as of January 30, 2022 was Php 873,200.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    1 views1 page

    Sample Transaction Accounting Equation

    Uploaded by

    2023shssanchezkat
    GO Services had various financial transactions in January 2022 including investing cash, rendering services, collecting and receiving accounts, purchasing supplies on credit, borrowing money, purchasing property and equipment, paying bills, adding additional investments, withdrawing funds, and ordering and receiving supplies on account. The net balance of GO Services' accounting equation as of January 30, 2022 was Php 873,200.

    Copyright:

    © All Rights Reserved
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    Sample Transaction Accounting Equation : Practice

    Financial Forecasts
    Below are the following transactions of GO Services business for the month of January 2022.

    Jan.1 Invested cash amounting Php 800,000


    Jan.3 Rendered services amounting Php 25,000
    Jan.4 Rendered services amounting Php 9,000 on account
    Jan.7 Collected account on transaction (Jan.4)
    Jan.10 Purchased Php 1,000 office supplies on credit
    Jan.12 Paid the office supplies on credit
    Jan.15 Borrowed Php 90,000 issuing a note
    Jan.20 Purchase PPE, Php 500,000
    Jan.26 Paid water bill Php 800
    Jan.26 Paid the note in full
    Jan.27 Added additional investment Php 50,000
    Jan.28 Withdrew Php 20,000 for personal use
    Jan.28 Ordered office supplies on account Php 10,000
    Jan.29 Received office supplies ordered on account
    Jan.30 Received telephone and electric bill Php 4,000

    ANSWER: 873, 200

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