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ACTIVITY IN

FABM1_ACCOUNTING
EQUATION
Show the effects on the
accounting equation. Wri
te + for increase, - for de
crease, and NC for No C
hange.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

1. Niko opened a
dental clinic by
investing 1 million
pesos.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

2. Borrowed
Php100,000 from
Bank Rupt Bank.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

3. Invested a dental
chair worth
Php300,000.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

4. Bought from A
Co. tables worth
Php70,000. Paid
Php10,000 cash and
the balance on
account.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

5. Withdrew
Php9,000 for
personal use.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

6. Purchased
cabinets for
Php15,000 in cash.
OWNER'S
TRANSACTION ASSET LIABI-
LITY EQUITY

7. Paid his account


to A Co. in full.
Jerome Garcia started a new business an
d completed these transactions during Au
gust:
1. The owner invested cash of PHP150,
000.
2. Purchased equipment at PHP20,000
for cash.
3. The business incurred PHP112,500 e
xpenses and paid in cash.
4. The company purchased supplies on
account amounting to Php53,000.
5. The owner withdrew cash of PHP15,
000.
6. Paid liabilities worth PHP53,000.
7. The owner withdrew supplies worth