Taylor Company, engaged in a service business, completed the following selected transactions during the month...
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Accounting
Taylor Company, engaged in a service business, completed the following selected transactions during the month of January of the current year. a. Received P90,000 cash investment from the owner. b. The owner signed a note and borrowed P30,000 from a friend for use in the business c. The company bought P200,000 truck on account d. Cash was received from a customer for services performed, P11,800. e. Paid wages of employees, P12,000. f. Paid rent for the month, P7,500. g. Purchased office equipment on account, P13,500. h. Earned service revenue on account, P27,000. i. Received bill for advertising due the following month, P6,750. j. Collected cash on account, P5,800. Using the tabular form below, indicate the effects of the above transactions on the accounting equation using (+) for increase, and (-) for decrease. Cash Account receivable Truck Office Equipment Accounts payable Notes payable Taylor, Capital a. b. c. d. e. f. g. h. i. j. A
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