Which accounting elements of the business are affected

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Reference no: EM131306659

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.

Transactions	Assets	Liabilities	Owner's Equity
a) Ariel received a retirement pay of P1,000,000 cash and invested half of this to put up his business.
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.
c) He hired a cook, a cashier and a server for a monthly salary of P5,000 each worker.
d) He bought cooking equipment and paid P350,000.
e) He bought office equipment from Da Best for P125,000 on credit.
f) He paid half of the account due to Da Best.
g) He took home P5,000 cash for his own use.

Reference no: EM131306659

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