Exercise 1

Make table in MS Excel with each of the following accounts and indicate their effect on the accounting equation (expanded).

On February 1, 2020, Miguel Toro established a home rental business under the name Miguel's Rentals. During the month of March the following transactions were recorded:

To open the business, he deposited $ 60,000 of his personal funds as an investment.

He bought equipment for $ 6,000 on credit.

He bought office supplies for $ 1,500 in cash.

He received income from renting a property for $ 3,500 in cash.

He paid for utilities expenses of $ 800.00.

He paid $ 1,200 of the equipment purchased on credit from the second transaction.

He received income from managing a building rental for $ 4,000 in cash.

He provided a rental counseling service to a client for $ 3,000 on credit.

He paid salaries of $ 1,500 to his secretary.

He made a withdrawal of $ 500.00 for his personal use.

Exercise 2

Make a table in Excel, analyze the following transactions and indicate the account that increases and the account that decreases, or if both accounts decrease or both accounts increase. It also indicates how the accounting equation (simple) is affected

Cash is received for investment in the business of $ 80,000.

$ 2,200 cash monthly rent is paid.

Office supplies are purchased for $ 600.00 in cash.

Office equipment is purchased on credit for $ 4,000.

Work is performed on a credit customer for $ 2,500.

Exercise 3

Make a table in MS Excel with each of the following accounts and indicate their effect on the accounting equation (expanded).

Make a table in MS Excel with each of the following accounts and indicate their effect on the accounting equation.

To open the business, he deposited $ 45,000 of his personal funds as an investment.

He bought office supplies for $ 1,000 on credit.

He received $ 2,000 cash income from rendering a service.

He paid for utilities expenses of $ 400.00.

Paid $ 300 for supplies purchased on credit.

He received income for services rendered of $ 4,000 in cash.

Provided a service to a client for $ 3,000 on credit.

You paid wages of $ 1,800 to an employee.

He made a withdrawal of $ 200.00 for his personal use.