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ASSIGNMENT: Arrange the following asset, liability, and equity titles in a table: Cash: Accounts Receivable; Office Supplies; Office Equipment: Exploration Equipement Accounts Payable: Jerome Garcia,
ASSIGNMENT: Arrange the following asset, liability, and equity titles in a table: Cash: Accounts Receivable; Office Supplies; Office Equipment: Exploration Equipement Accounts Payable: Jerome Garcia, Capital; Jerome Garcia, Withdrawals; Revenues; and Expenses. editions and subtractions to show the effects of each transaction on the accounts in the accounting equation, Show new rich transaction Jer started a new business and completed these transactions during August AUD Garda invested PHP48,000 cash in the business Rented office space and paid PHP800 cash for the August rent Purchased exploration equipment for PHP22,000 by paying PHP12,000 cash and agreeing to pay the balance in 3 months Purchased office supplies by paying PHP1,500 cash Completed exploration work and immediately collected PHP420 cash for the work 6 Purchased PHP350 of office equipment on credit 15 Completed exploration work on credit in the amount of PHPB,000 10 20 Paid cash for the office equipment purchased on August & 24 28 30 Paid the assistant's salary of PHP1,100 cash for this month 30 30 Plused PHP700 of office supplies on credit Billed a client PHP2,400 for work completed; the balance is due in 30 days. Received PHP5,000 cash for the work completed on August 15. Paid PHP340 cash for this month's utility bill. Garda withdrew PHP1,050 cash from the business for personal use
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