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Design your own financial transaction worksheet and indicate the effect of each transaction bellow using the balance sheet equation. After each transaction is properly recorded,
Design your own financial transaction worksheet and indicate the effect of each transaction bellow using the balance sheet equation. After each transaction is properly recorded, compute new subtotals for the Assets, Liabilties and Owners Equity.
Example: owner invested P cash in a new business.
a Acquired for P cash a commercial area to be used as business space.
b Received P for services still to be rendered next month.
c Paid P to an advertising agency for a newspaper ad
d Purchased P for supplies inventory on account.
e Paid P to the supplier for inventory purchased in d and gave a note for the remaining
P
f Loaned P to the owner and accepted his day note.
g Bought P of supplies for cash.
i Then company agreed to buy two services vehicles six months from now for P
Answer all please thank you
This is the format
cash receivable inventories PPE Payable Capital Withdrawal Revenue and Expenses
the assets and liabilities & equity should be the same
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