Problem -
A list of transactions appears below. Indicate which accounting elements of the business are affected by placing in the respective columns the amount and the + (increasing) - (decrease) sign or NA, if the element is not affected. Ariel is the owner-manna of Domino Pizza. Unless otherwise stated, the transactions are all for the business.
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Transactions
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Assets
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Liabilities
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Owner's Equity
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a) Ariel received a retirement pay of P1,000,000 cash and invested half of this to put up his business.
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b) From the remaining pension of P750,000 he got a car for his own use, P750,000 and issued a note for the balance.
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c) He hired a cook, a cashier and a server for a monthly salary of P5,000 each worker.
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d) He bought cooking equipment and paid P350,000.
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e) He bought office equipment from Da Best for P125,000 on credit.
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f) He paid half of the account due to Da Best.
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g) He took home P5,000 cash for his own use.
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