Question

the following transactions were made during the first month of single proprietor's buseniss operation

1. Mr.Y started a grocery store.He invested P200,000 as initial investment.

2. He registered his business paying P 1500 for registration

3. he paid P20,000 for rent store applicable for one year

4.He incurred and paid P25,000 for the repair of the grocery store

5. he purchased mechandise for sale amounting to P300,000 paying P200,000 with the balance to be paid 60 days

6. He paid P2,000 for the transportation of the merchandise purchased

7. He hired a sales lady for a contract P5,000 per month salary

8. He sold P100,000 worth of mechandise for P160,000 for cash

9. He sold P20000 worth of mechandise for P35,000 on credit

10. he paid business taxes and licenses amounting to P5,000 on credit

11. he paid P3,000 electricity expense during the month

12. he paid the salary of his saleslady

13. he paid 50% of his obligation to his supplier

required:
1. determine what accounting element is affected by the business transactions including their amounts.
2. how much is the total assets,liabilities, and owner's equality at the end of the month.​

Answer 1

Answer:

The cell (from Latin cella, meaning "small room") is the basic structural, functional, and biological unit of all known organisms. Cells are the smallest units of life, and hence are often referred to as the "building blocks of life". The study of cells is called cell biology, cellular biology, or cytology.

Step-by-step explanation:

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