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    I. Activity/Exercises 1:: Apply It in Real Life

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    Carl Jared S. Calub
    The document provides information about the financial transactions of a restaurant called Morisqueta Tostada for the month of October. It includes details of initial investment, purchases, receipts, and a withdrawal. It asks the reader to prepare a worksheet using the accounting equation to record these transactions and indicate how each transaction would affect assets, liabilities, and equity.

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    I. Activity/Exercises 1:: Apply It in Real Life

    Uploaded by

    Carl Jared S. Calub
    135 views3 pages
    The document provides information about the financial transactions of a restaurant called Morisqueta Tostada for the month of October. It includes details of initial investment, purchases, receipts, and a withdrawal. It asks the reader to prepare a worksheet using the accounting equation to record these transactions and indicate how each transaction would affect assets, liabilities, and equity.

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    Uu

    Original Title

    ACTIVITY2-1-2

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    The document provides information about the financial transactions of a restaurant called Morisqueta Tostada for the month of October. It includes details of initial investment, purchases, receipts, and a withdrawal. It asks the reader to prepare a worksheet using the accounting equation to record these transactions and indicate how each transaction would affect assets, liabilities, and equity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    135 views3 pages

    I. Activity/Exercises 1:: Apply It in Real Life

    Uploaded by

    Carl Jared S. Calub
    The document provides information about the financial transactions of a restaurant called Morisqueta Tostada for the month of October. It includes details of initial investment, purchases, receipts, and a withdrawal. It asks the reader to prepare a worksheet using the accounting equation to record these transactions and indicate how each transaction would affect assets, liabilities, and equity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    NAME :

    SECTION :

    I. ACTIVITY/EXERCISES 1:
    Apply it in real life
    You are an accountant of the Morisqueta Tostada Restaurant with the following
    transaction for the month of October. Prepare the worksheet using the accounting
    equation.

    Write your answer on the space provided below.

    Follow transaction 1, 2, 3 & 6 as example guide. Fill in what is missing in the table
    to complete your answer.

    20 October Owner made initial investment of P 1,500,000.00


    22 October Purchased kitchen tools, supplies, and equipment at P750,000 on a
    60-day Credit.
    23 October Purchased tables and chairs for P65,750 paid in cash.
    23 October Paid rental for space for the month amounting to P15,000 and one-
    month deposit of P15,000.
    26 October Purchased ingredients for food preparation with the total of P4,500.
    Dining and take-out receipts with a total of P5,875.
    27 October Purchased ingredients for food preparation with the total of P4,000.
    Dining and take-out receipts with a total of P6,250.
    28 October Purchased ingredients for food preparation with the total of P4,000.
    Dining and take-out receipts with a total of P5,200.

    29 October Owner made a personal withdrawal of P200,000.


    Morisqueta Tostada
    Worksheet for Financial Transaction
    For the period 1-29 October
    In Philippine peso

    Date Trans no. Transaction Asset (P) = Liabilities (P) Capital (P)
    20 1 Owner’s 1,500,000.00 1,500,000
    October investment
    (Initial
    22 2 Purchase of 750,000.00 750 000.00
    October kitchen tools
    and
    equipment on
    account; 60
    days
    23 3 Purchase of (65,750.00)
    October table and
    chair cash
    23 3 Purchase of 65,750.00
    October table and
    chairs
    23 4 ( 15,000 ) (15 000.00)
    October
    23 5 ( 15,000 )
    October
    23 5 15,000
    October
    26 6 Purchases- (4,500.00) (4 500.00)
    October Food
    preparation
    26 6 Dinning and 5,875.00 5,875.00
    October take out
    27 7 ( 4,000 ) ( 4,000)
    October
    27 7 6,250
    October
    28 8 ( 4,000) ( 4,000)
    October
    28 8 5,200 5,200
    October
    29 9 ( 200,000 ) ( 200,00)
    October
    750,000
    ASSETS Total LIABILITIES EQUITY
    total

    I. ACTIVITY/EXERCISES 2:
    For each transaction, tell whether the assets, liabilities, and equity will increase (I), decrease (D),
    or is not affected (NE).

    A L E
    1. The owner invests personal cash in the business __I__ __NE__ __I___
    2. The owner withdraws business assets for personal use. _____ _____ ____
    3. The company receives cash from a bank loan _____ _____ ____
    4. The company repays the bank that had lent money. _____ _____ _____
    5. The company purchases equipment with its cash. __NE___NE __NE___
    6. The owner contributes her personal truck to the business. _____ _____ _____
    7. The company purchases supplies on credit _____ _____ _____
    8. The company purchases land by paying half in cash and
    signing a note. _____ _____ _____
    9. The owner withdraws cash for personal use. _____ _____ _____
    10.The company repays the supplier __D__ __D__ __NE___

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