1) a. analysis b. application

9.) Analysis a Analyze the following transactions. Transaction letter is given as an example: The asset, Cash and Repair Equipment were increased. Increases in assets are recorded by debits. Debit cash, P 10,000; Debit Repair Equipment, P 4,000. The owner's equity, Roland Barrio, Capital was increased. Increase in owner's equity is recorded by credits. Credit Roland Barrio, capital P 14,000. Poland Barrio opened a Repair Shop by investing P 10,000 cash and repair equipment worth P 4,000. Paid P 2,000 for one month's rent. Purchased repair supplies on account, P 1,000. Purchased additional repair equipment on account, P 3,000. Received cash for repair services, P 800. F Rendered repair services on credit, P 700. G) Paid assistant's salary for the month, P 1,500. H) Accepted cash for repairs completed, P 3,800. Paid for repair supplies purchased in No. 3. J.J. Withdrew P 2,000 from business for personal use. B) Application. Record the transactions of Ludivico Alejo in a two-column journal. January 1 Paid rent for the month: P 7,500. 2 Purchased office equipment on account: 10,000. 8 Purchased supplies for Cash: 1,500. 10 Paid advertising expense: 1,700. 15 Fees earned and billed to customers for the month: 21,000. 20 Paid creditor on account: 5,000. 24 Withdrew cash for personal use: 5,000. 29 Paid telephone bill for the month: 1,500. 30 Received cash from customers on account: 15,500. 31 Paid for repairs & maintenance: 950. 31 Paid utilities for the month: 1,300. Accounting 1 - Principles of Accounting