Transaction Analysis

Instruction:
Analyze the each transaction.
For each transaction, answer the following questions:
1. What are the accounts affected?
2. What type of account?
3. Did the accounts increase or decrease?

Arpil 1 Miss Molly Ann Santos invested cash in the business, P 500,000.
5 Bought office equipment on account from Linaac Company, P 30,000.
8 Purchased office supplies for cash from Jade Harvey Enterprise, P 5,000.
10 Borrowed money from Apple Marie Financing Company, and signed a promissory note, P 100,000.
15 Rendered services to Luningning, P 50,000. Luningning paid cash.
18 Rendered services to Miss Ellyn Tejada, P 40,000. Miss Ellyn Tejada made an oral promise to pay.
20 Made partial payment to Linaac Company for the office equipment purchased last April 5, 2016, P 10,000.
22 Bought furnitures on account from Aiziel Rose Corporation, P15,000.
25 Paid rental to Shaira Banuag Realty Corporation the amount P 20,000 for the use of building.
26 Miss Molly Ann Santos withdrew cash of P 7,000 from the business for her personal use.
27 Rendered services for cash to Jessa Marie Gavas Obligado, P 30,000.
Received money from Colleen Pomada as advance payment for the service to be rendered in May P
28 10,000.
29 Miss Ellyn Tejada made partial payment for the April 18 transaction, P 30,000.
30 Paid the electricity bill for the month of April to Gumahin Electric Company, P 2,000

Paid salaries and wages for the month of the Miss Honey Bangod , Fergie Viña Butardo and Anjelah
31 Nouvelles, P 45,000.