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19 Net effect on Equity: * (1 Point) Assets Liabilities Owner's Equity Transactions a.) Mr. MKPS received a retirement pat of Php 3,000,000 cash and invested half of this to put up his business. From the remaining pension of Php 500,000, he got a car for his own use, Php 750,000 and issued a note for the balance. c.) He hired a cook, a cashier and a server for a monthly salary of Php 5,000 each worker. d. He bought cooking equipment and paid Php 350,000. e.) He bought office equipment from Squid Co. for Php 125,000 on credit. .f.) He paid haif of the account due to Squid Co. He took home Php 5.000 cash for his own use. 1,505,000 1,500,000 1,495,000 (5,000) 20 On Jan. 1, 2021, the assets of Mugunghwa Kkoci Pieot Seumnida (MKPS) Companywere P1,300,000 and the liabilities were P350,000. During the year, the assets increased by P1,400,000 and the liabilities decreased by P250,000. How much is the total Owner's equity at the beginning of the year? * (1 Point) Enter your answer 21 In the first month of operations for Mugunghwa Kkochi Pieot Seumnida (MKPS) Company, the total of the debit entries to the cash account amounted to P33,000 (P13,000 investment by the owner and revenues of P20,000). The total of the credit entries to the cash account amounted to P21,000 (purchase of equipment of P8,000 and payment of expenses P13,000). At the end of the month, the cash account has a(n) (1 Point) P5,000 credit balance P5,000 debit balance P12,000 debit balance P12,000 credit balance :22 Mugunghwa Kkochi Pieot Seumnida (MKPS) Company Toal Balance December 31, 2019 P20,000 50,000 5.000 15.000 40.000 Cash Accounts Receivable Prepaid insurance Supplies Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Abad, Capital Service Revenue Salarics Expense Rent TOT AT P20,000 30.000 60.000 30.900 10,000 20.000 1 10 ano If on December 31, 2019, supplies on hand were P5,000, the adjusting entry would contain a: * (1 Point) Debit to Supplies for P 5,000. Credit to Supplies for P 5,000. Credit to Supplies Expense for P 10,000. Debit to Supplies Expense for P10,000