Republic of the Philippines

City of Olongapo
GORDON COLLEGE
SENIOR HIGH SCHOOL DEPARTMENT
Olongapo City Sports Complex, Donor St. East Tapinac, Olongapo 2200
Telefax No.: (047) 224-2089

I. Learning Task
Give the effect of the following transactions on the accounting equation:
On May 11, 2019, Donya Pura opens Pura Collection Services. On the transaction summary table
below, indicate the effect of each transaction on each account. Put “+” to signify increase or “-”
to signify decrease. Indicate the amount of increase or decrease for each account. The first one is
done for you.

Owner’s
Assets Liabilities
Equity
Transactions Accounts
Accounts Notes Pura,
Cash Receivabl Supplies
Payable Payable Capital
e
1.Donya Pura + +
invested Php Php Php 60,000
60,000 in the 60,000
business.
2. Bought Php - +
1,500 worth of Php Php
supplies for 1,500 1,500
cash.
3. borrowed Php + +
50,000 from Php Php 50,000
Donya Tekla 50,000
4. Cash services + +
rendered to Ms. Php Php 25,000
Ko, Php 25,000. 25,00
5. Issued a note +
for the amount Php 25,000
borrowed from
Donya Tekla.
6. Services + +
rendered to Php 5,000 Php 5,000
client on
account, Php
5,000.
7. Settled the - -
note with Donya Php Php 50,000
FUNDAMENTALS OF ACCOUNTING, BUSINESS & MANAGEMENT MODULE 2ND SEM 2020 – 2021 NOT FOR SALE, EXCLUSIVE FOR GORDON COLLEGE ONLY

This study source was downloaded by 100000833593404 from CourseHero.com on 04-04-2023 10:15:02 GMT -05:00

https://www.coursehero.com/file/87248433/FABM-MODULE-4-part-2docx/
 Republic of the Philippines
City of Olongapo
GORDON COLLEGE
SENIOR HIGH SCHOOL DEPARTMENT
Olongapo City Sports Complex, Donor St. East Tapinac, Olongapo 2200
Telefax No.: (047) 224-2089
50,000
Tekla
8. Paid Php - -
12,000 worth of Php Php 12,000
personal funds 12,000
for a Palawan
vacation.
9. Made - -
personal Php Php 10,000
withdrawal, Php 10,000
10,000.
10. Hired office + -
secretary with Php 13,000 Php 13,000
monthly salary
of Php 13,000.
11. Collections + +
from various Php Php 30,000
clients 30,000
amounting to
Php 30,000 for
services
rendered.
12. Returned - -
Php 200 worth Php 200 Php 200
of defective
supplies bought
using cash.
13.Invested + +
additional cash, Php Php 24,000
Php 24,000. 24,000
14.Full + + +
collection of Php Php Php
account from all 100,000 100,000 100,000
clients, Php
100,000.

II. Reference
Fundamentals of Accounting, Business and Management 1 Made Easy, Win Ballada

FUNDAMENTALS OF ACCOUNTING, BUSINESS & MANAGEMENT MODULE 2ND SEM 2020 – 2021 NOT FOR SALE, EXCLUSIVE FOR GORDON COLLEGE ONLY

This study source was downloaded by 100000833593404 from CourseHero.com on 04-04-2023 10:15:02 GMT -05:00

https://www.coursehero.com/file/87248433/FABM-MODULE-4-part-2docx/
Powered by TCPDF (www.tcpdf.org)