Name: __________________________________________ Section: ________________________
QUIZ NO. 2: Transaction Analysis
Instruction: For each transaction, indicate whether the Assets, Liabilities or Equity is increased (+), decreased (-), or did not change (0) by placing
the appropriate signs (+, -, 0) in the appropriate column. A column may be affected twice.
Example:
Assets = Liabilities + Capital
a. Acquired equipment on account for P10,000.00. + + 0
Assets Liabilities Capital
A Deposited P250,000.00 in Chinabank in the name of the
business.
B Bought new photography equipment on account from Sony
Equipment Corp., P123,450.00.
C Paid a monthly premium insurance coverage on the
photography equipment for P940.00 in cash
D Bought photography supplies worth P7,890 in cash.
E Billed Quibs P130,000.00 for services rendered during his
birthday.
F Alicia Goo invested additional cash of P25,000.00 and
deposited the same in Chinabank.
G Goo received a check of P95,000.00 from Quibs as partial
payment for the billing made last July 15
H Paid Sony Equipment Corp. part of the amount owed on the
purchase made on July 2, P38,450.00
I Alicia Goo withdrew cash of P16,000 for personal use.
J Received and paid telephone bill of P1,200.00.
K Paid salary of part-time assistant, P6,500.00
L Alicia Goo paid Harry Renta P12,000.00 for the office rent for
the month of July.
Name: ____________________________________________ Section: ___________________________
WORKBOOK 1: Recording Transactions in a Financial Transaction Worksheet
Instruction: Record the transactions for the month of July 2024 in a Financial Transaction Worksheet. Use
the following accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Photography Equipment;
Accounts Payable; Goo, Capital; Goo, Withdrawal; Service Income; Salaries and Wages Expense; Rent
Expense; Telecommunication Expense;
Alicia Goo, a Chinese veteran photographer, opened a studio for her professional practice on July 1, 2024. She
registered the business under the name PoGOOgraphy. Transactions completed during the month were as
follow:
July 1 Deposited P250,000.00 in Chinabank in the name of the business.
July 2 Bought new photography equipment on account from Sony Equipment Corp., P123,450.00.
July 2 Paid a monthly premium insurance coverage on the photography equipment for P940.00 in cash
July 3 Bought photography supplies worth P7,890 in cash.
July 15 Billed Quibs P130,000.00 for services rendered during his birthday.
July 17 Alicia Goo invested additional cash of P25,000.00 and deposited the same in Chinabank.
July 20 Goo received a check of P95,000.00 from Quibs as partial payment for the billing made last July 15
July 28 Paid Sony Equipment Corp. part of the amount owed on the purchase made on July 2, P38,450.00
July 29 Alicia Goo withdrew cash of P16,000 for personal use.
July 30 Received and paid telephone bill of P1,200.00.
July 31 Paid salary of part-time assistant, P6,500.00
July 31 Alicia Goo paid Harry Renta P12,000.00 for the office rent for the month of July.
_________________________________________
_________________________________________
_________________________________________
ASSETS = LIABILITIES + (CAPITAL– WITHDRAWAL + INCOME – EXPENSE )
_______ ________ ________ _______ ________ ________ _________ ________ _________ _______ ________ ________
DATE
Name: ____________________________________________ Section: ___________________________
LEARNING EVIDENCE 1: Recording Transactions in T-Accounts
Instruction: Record the transactions for the month of July 2024 using the T-accounts and determine the
balances of the T-accounts. Use the following accounts: Cash; Accounts Receivable; Supplies; Prepaid
Insurance; Photography Equipment; Accounts Payable; Goo, Capital; Goo, Withdrawal; Service Income;
Salaries and Wages Expense; Rent Expense; Telecommunication Expense;
Alicia Goo, a Chinese veteran photographer, opened a studio for her professional practice on July 1, 2024. She
registered the business under the name PoGOOgraphy. Transactions completed during the month were as
follow:
July 1 Deposited P250,000.00 in Chinabank in the name of the business.
July 2 Bought new photography equipment on account from Sony Equipment Corp., P123,450.00.
July 2 Paid a monthly premium insurance coverage on the photography equipment for P940.00 in cash
July 3 Bought photography supplies worth P7,890 in cash.
July 15 Billed Quibs P130,000.00 for services rendered during his birthday
July 17 Alicia Goo invested additional cash of P25,000.00 and deposited the same in Chinabank.
July 20 Goo received a check of P95,000.00 from Quibs as partial payment for the billing made last July 15
July 28 Paid Sony Equipment Corp. part of the amount owed on the purchase made on July 2, P38,450.00
July 29 Alicia Goo withdrew cash of P16,000 for personal use.
July 30 Received and paid telephone bill of P1,200.00.
July 31 Paid salary of part-time assistant, P6,500.00
July 31 Alicia Goo paid Harry Renta P12,000.00 for the office rent for the month of July.
_________________________________________
_________________________________________
_________________________________________
ASSETS = LIABILITIES + CAPITAL
