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WorksheetsAffected Accounts by the Business Transactions
Total questions: 13
Worksheet time: 10mins
Miss P opened her business, "P's Accounting Service" in the month of March 2018 and invested PhP30,000 cash in the business. Which accounts affected?
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Paid local business permit in the amount of PhP4,000 cash.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Purchased office furniture worth PhP25,000 and office equipment worth PhP40,000.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Received PhP8,000 cash from Miss Sharon Soledad for tax services.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Received PhP15,000 cash from client for internal revenue compliance.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Purchased office equipment from Gilmore Computer Supply amounting to 25,000 on account
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Paid utilities PhP12,000 in cash.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Received 5,000 cash from a client for accounting services rendered.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Miss P withdrew cash PhP3,000 for personal use.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Paid PhP7,500 cash for the rent of laundry shop.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Received 10,000 cash from clients for BIR compliance services.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Paid PhP6,000 for salaries of the employees.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Paid cash for the full settlement of account on March 15th transaction.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
