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Valdevieso, Afrielin S.

BSA_1101
BSA 1-BDA
DATE ASSET = LIABILITIES
Cash Accounts Office Equipment Furniture = Accounts
July Receiveble Supplies and Fixtures Payable
1 50,000 10,000
2 -25,000
4 120,000 120,000
6 -2,500 2,500
8 32,000
10 27,000
15 -6,200
18 15,000 -15,000
25 40,000 60,000
28 -5,000
28 -4,000 -4,000
30 -6,200
31 -2,000
Balances 88,100 72,000 500 120,000 10,000 116,000
290,600 =

Mabel Wong
Income Statement
For the month ended July 31, 2020

Service Income P 159,000


Less Expenses:
Rent Expense P 24,500
Utilities Expense 6,100
Wages Expense 12,400
Supplies Expense 2,000 45,000
Net Income P 114,000

Mabel Wong
Statement of Owner's Equity
For the month ended July 31, 2020

Wong, Capital, July 1 P 60,000


Add Net Income 114,000
Total 174,000
Less Drawings 5,000
Wong, Capital, July 31 P 169,000

Mabel Wong
Statement of Financial Position
31-Jul

ASSETS LIABILITIES AND OWNER'S EQUITY


Cash P 88,100 Accounts Payable P
Accounts Receivable 72,000 Notes Payable
Office Supplies 500 Utilities Payable
Equipment 120,000 Wong, Capital
Furniture and Fixtures 10,000
P 290,600 P
LIABILITIES + OWNER'S EQUITY
Notes Utilities + Wong, Wong, + Income - Expense
Payable Payable Capital Drawings
60,000
25,000

32,000
27,000
6,200

100,000
-5,000

6,200
5,600 7,600
0 5,600 60,000 -5,000 + 159,000 - 45,000
121,600 + 169,000
OWNER'S EQUITY
116,000
0
5,600
169,000

290,600
EXPLANATION OF CHANGES IN OWNER'S EQUITY
Investment
Rent Expense and Utilities Expense
Purchased Equipment
Purchased Supplies
Service Income
Service Income
Wages Expense
Collected cash on the amount owed by the client
Service Income
Wong, Drawings
Paid the first installment on Equipment
Wages Expense
Utilities Expense and Supplies Expense

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