ACCOUNTING
EQUATION
ACC1
ACCOUNTING EQUATION
Determine the missing amount on the
accounting equation.
Determine the ending balance of cash
using T-account.
Determine the ending balance of cash
and accounts receivable using Taccount.
Daisy Co. had the following cash-related transactions on its fourth month
of operation, April 2018. On March 31, 2018, the balance of cash is ₱
35,000.
April 1 Bought ₱ 20,000 worth of merchandise inventory
5 Collected ₱ 16,000 from accounts receivable of the previous
month sale.
9 Sold goods for ₱15,000 on account
12 The customer paid ₱3,000 cash from sale on April 9, 2018
20 Sold goods in cash, ₱25,000
24 The owner withdrew ₱15,000 for her personal expenses
25 Paid employees’ salaries amounting to ₱12,500
Accounting Equation Activity
Transactions
a. 1.
2.
Accounts
Affected
Type of
Account
Increase or
Decrease
Debit or
Credit
Solve the following problems.
JOURNALIZING
A form for recording transactions in chronological
order is called “journal”. A journal entry is called
the “book of original entry.”
Most companies choose to use a journal to record
transactions. Besides being more manageable, a
journal also provides a more permanent record of
the transactions of a business. Recording
transactions in a journal is called “journalizing”.
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL
THE GENERAL JOURNAL