Activity 6.2: Using the following format, identify the effects of the transactions to the accounting equation: ASSETS = LIABILITIES + OWNERS' EQUITY Example: ASSETS = LIABILITIES + OWNERS' EQUITY 1. +200 = + 200 2 . + On June 1, Maya Cruz opened the Ganda Beauty Salon. During the first month, the following selected transactions occurred: 1. Deposited PHP5,000 cash in the City Bank in the name of the business 2. Paid PHP800 cash for beauty supplies 3. Purchased equipment at a cost of PHP12,000 paying PHP2,000 in cash and the balance on account 4. Received PHP1,200 cash for services rendered 5. Paid PHP500 cash as a salary to a beautician 6. Withdrew PHP400 cash for personal expenses