Accountinggg

Directions: Read and analyze carefully the given transactions. Indicate the increase and decrease in each account by placing a check mark in the appropriate column. TRANSACTIONS DEBIT CREDIT 1. Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 1 1. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased II. Give the effects of the following transactions on ASSETS, LIABILITIES, OWNER'S EQUITY, REVENUES, AND EXPENSES. 1. Maggie Caparas invested P10,000 cash in a beauty parlor. 2. Paid P1,000 for rent. 3. Purchased furniture worth P6,000 for cash. Bought equipment on accounts from Villena's Beauty Center for p5,000. 5. Received P5,000 for services rendered 6. Paid Salary, P500, 7. Bought supplies, P300, 8. Partial payment of account with Villena's Beauty Center, P3,000. 9. Receipts for the week, P5,000 III. Ricardo Aninang established business on April 1,2017 and invested P5,000 cash and a building valued at P100,000. A summary of transactions for April as follows; 1. Collected rent for the month, P10,000. 6. Borrowed P20,000 from Far East Bank. 2. Paid insurance premium on building P1,500. 7. Paid P300 interest on bank loan. Paid MERALCO,P500. 8. Withdrew P600 for personal use. 4. Paid salaries, P1,500. 9. Paid P10,000 bank loan 5. Bought supplies,P400 10. Received P500 from the services rendered. REQUIRED: State the effects of the above transactions on the ASSETS, LIABILITIES, O.E., REVENUES AND EXPENSES