Write the letter of your choice corresponding to the effects of the following business transactions: a....

  

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Write the letter of your choice corresponding to the effects of the following business transactions: a. Increase in assets and increase in capital b. Increase in assets and increase in liabilities c. Increase in one asset and decrease in another assets. d. Decrease in assets and decrease in capital e. Decrease in assets and decrease in liabilities f. Decrease in capital and increase in liabilities 1. The owner invested cash into the business. 2. Purchased supplies on account. 3. Paid office rent for the month. 4. Rendered service on account. 5. Borrowed funds from the bank. 6. Paid suppliers for the supplies purchased on account. 7. Withdrawn cash for personal use. 8. Paid bank loan. 9. Collected cash from customer on account. 10. Received bill from MERALCO due next month. 11. Purchased office equipment for cash. 12. Purchased delivery truck on installment basis. 13. Paid salaries of the employees. 14. Additional investment made by the owner. 15. Incurred advertising expense to be paid next month. 16. Paid the utility bill incurred last month. 17. Received cash for the services rendered from cash customer. 18. Purchased supplies for cash 19. Paid advertising expense incurred last month. 20. Returned defective supplies purchased on account. The bookkeeper of MMK Service Company owned and operated by Aren Ting, extracted the following debit and credit balances from the general ledger on December 31, 2016, the end of the accounting period. Cash Note Receivable Accounts Receivable Tools Furniture & Fixtures Office Equipment Delivery Van Photocopying Machine Note Payable Accounts Payable A. Ting, Drawing Salaries Expense Utilities Expense Rent Expense Insurance Expense H DEBITS P 12,800 1,650 21,600 10,000 21,840 50,000 18,000 38,900 120,000 3,400 4,000 25,000 34,800 12,660 16,000 Advertising Expense Repairs & Maintenance Expense Miscellaneous Expense Interest Expense Cash Note Receivable Accounts Receivable Note Payable Accounts Payable Loan Payable A. Ting, Capital Service Income Rental income Interest Income I 9,410 20,000 11,000 233,398 12,000 20 128 CREDITS P 6,410 650 11,450 6,400 18,000 20,000 ? REQUIRED: Prepare the trial balance as of December 31, 2016. The accounts must be arranged in their proper order. The bookkeeper of Mr. Go, accounting the following balances from the general ledger on December 31, 2019, the end of the accounting period. At December 31, 2019, Mr. Andrew Go, a sole proprietor engaged in service business has the following account balances: Cash Accounts Receivables Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Go, Drawing Go, Capital Service Revenue Salary Expense Utilities Expense Miscellaneous Expense REQUIRED: Prepare a trial balance in good form. I Php400,000 280,000 100,000 60,000 100,000 450,000 200,000 120,000 390,000 200,000 80,000 55,000 45,000 Write the letter of your choice corresponding to the effects of the following business transactions: a. Increase in assets and increase in capital b. Increase in assets and increase in liabilities c. Increase in one asset and decrease in another assets. d. Decrease in assets and decrease in capital e. Decrease in assets and decrease in liabilities f. Decrease in capital and increase in liabilities 1. The owner invested cash into the business. 2. Purchased supplies on account. 3. Paid office rent for the month. 4. Rendered service on account. 5. Borrowed funds from the bank. 6. Paid suppliers for the supplies purchased on account. 7. Withdrawn cash for personal use. 8. Paid bank loan. 9. Collected cash from customer on account. 10. Received bill from MERALCO due next month. 11. Purchased office equipment for cash. 12. Purchased delivery truck on installment basis. 13. Paid salaries of the employees. 14. Additional investment made by the owner. 15. Incurred advertising expense to be paid next month. 16. Paid the utility bill incurred last month. 17. Received cash for the services rendered from cash customer. 18. Purchased supplies for cash 19. Paid advertising expense incurred last month. 20. Returned defective supplies purchased on account. The bookkeeper of MMK Service Company owned and operated by Aren Ting, extracted the following debit and credit balances from the general ledger on December 31, 2016, the end of the accounting period. Cash Note Receivable Accounts Receivable Tools Furniture & Fixtures Office Equipment Delivery Van Photocopying Machine Note Payable Accounts Payable A. Ting, Drawing Salaries Expense Utilities Expense Rent Expense Insurance Expense H DEBITS P 12,800 1,650 21,600 10,000 21,840 50,000 18,000 38,900 120,000 3,400 4,000 25,000 34,800 12,660 16,000 Advertising Expense Repairs & Maintenance Expense Miscellaneous Expense Interest Expense Cash Note Receivable Accounts Receivable Note Payable Accounts Payable Loan Payable A. Ting, Capital Service Income Rental income Interest Income I 9,410 20,000 11,000 233,398 12,000 20 128 CREDITS P 6,410 650 11,450 6,400 18,000 20,000 ? REQUIRED: Prepare the trial balance as of December 31, 2016. The accounts must be arranged in their proper order. The bookkeeper of Mr. Go, accounting the following balances from the general ledger on December 31, 2019, the end of the accounting period. At December 31, 2019, Mr. Andrew Go, a sole proprietor engaged in service business has the following account balances: Cash Accounts Receivables Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Go, Drawing Go, Capital Service Revenue Salary Expense Utilities Expense Miscellaneous Expense REQUIRED: Prepare a trial balance in good form. I Php400,000 280,000 100,000 60,000 100,000 450,000 200,000 120,000 390,000 200,000 80,000 55,000 45,000