HE 10 QUIZ 2

Determine the effects of the following business transaction in the accounting accounts.

Payment of Rent

Effects in Expenses Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Payment of Bank loan

Effects in Liability Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Collecting of Payment in rendered services

Effects in Income Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Investment through a bank loan.

Effects in Liability Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Cash Withdrawal

Effects in Asset Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Payment of Notes Payables

Effects in Liability Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Investment land and Factory

Effects in Equity Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Payment of Expenses

Effects in liability Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Collecting of Interests Receivables

Effects in Asset Account:

• INCREASING

• DECREASING

• NO EFFECTS

Determine the effects of the following business transaction in the accounting accounts.

Investment of Fixtures and Furniture.

Effects in Expenses Account:

• INCREASING

• DECREASING

• NO EFFECTS