XYZ Company engage in a service business, On the first day company received P60,000 cash and truck P100,000 investment. The owner signed a note and borrowed P20, 000 from a friend for use in the business on the 2nd day. The company bought P30,000 of computer on account on the 4th day. Cash was received from a costumer for service rendered P7,900 on the 5th day. The following expenses were paid on the 6th day: Salary of the employees P6,000; Rent for the month P5,000 and Advertising bill P18,000. Purchased equipment on account P7,500 on the 7th day. Billed X Co., P18,000 for service rendered on the 9th day and collected cash from X Co. on the 10th day. Required: indicate the effects of the above transactions on accounting equation and be able to compute asset balance and liabilities and owner’s equity.
a. 211,900
b. 210,000
c. 209,000
d. 210,900
e. 209,900