Solution-Write for source of asset and for use of asset

Write for source of asset and for use of asset

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Reference no: EM132643091

Question 1: Identify the type of the following transactions. Write for Source of Asset, for Use of Asset, for Exchange of Assets and for Exchange of Claims.

1. The owner purchased a car in the name of the business for P900,000.

2. The company sold the used equipment for cash, P200,000.

3. Received electricity bill of P15,000 to be paid after two weeks.

4. The owner withdrew P50,000 cash for personal use.

5. The company bought P10,000 cleaning supplies on account.

6. The company bought o?ce equipment for P32,000 in cash.

7. The company paid its accounts payable, P22,000.

8. The company sold merchandise and received cash, P20,000.

9. The company acquired bank loan for P100,000.

10. The company paid the telephone bill for the month in cash, P1,499

Reference no: EM132643091

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Write for source of asset and for use of asset

Reference no: EM132643091

Reference no: EM132643091

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