Transaction Analysis

A. Alpha Computer Services was established as a business that provides computer rentals and other services like photocopy and printing services and others. The sole proprietor was Tomy Paras. Here are the transactions that transpired during the first few days of the business: Date Transaction May 1 Mr. Paras deposited P 1,000,000 in Bank of the Philippine Islands to start Alpha Computer Services (ACS). May 2 A total of P 45,000 was used to by different Furniture and Fixtures. May 3 Registration of the company with the DTI, Local Government and BIR totaled P6,000. May 4 Purchased 10 computer units (P20,000 per unit), 1 computer server (P40,000) and a printer copier (P35,000). 50% of the total is paid when the units are delivered and the rest is payable in 30 days. May 10 Paid P10,000 rent and P6,000 for internet services for the month. May 11 The shop was opened to the public after tests of the computer units and servers. May 12 The sales from rental of computers for the amounts to P2,000 May 13-19 Sales for 6 days amounts to P16,000 May 19 Meralco bill for the period amounts to P3,500. The bill is payable on the 10th day of the following month. Prepare a transaction analysis using the following accounts. Assets Liabilities to Owner's Equity Furniture and Computer Accounts Owner's Owner's Cash Fixtures Equipment Payable Capital Drawings Revenues Expenses Date