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GIVE THE TRIAL BALANCE OF BALANCES OF THE FOLLOWING: 1 Marcie's Computer and Cellphone Clinic was opened by Marcie Castillo on May 1, 2010 with
GIVE THE "TRIAL BALANCE OF BALANCES OF THE FOLLOWING:
1 Marcie's Computer and Cellphone Clinic was opened by Marcie Castillo on May 1, 2010 with a cash investment of P150,000 and furniture worth P5,000. Additional transactions for the month follow: 3 Signed a contract of lease and made a deposit of P15,000. 4 Paid for the construction of display counters, P25,000. Bought repair supplies for cash, P7,500. Bought and paid for furniture and fixture, P45,000. 8 Bought repair equipment worth P15,000 from XYO Co. for use in the store. Paid 50% in cash with the balance on credit for 30 days. 9 Collected P1,500 for cell phone repair services. 10 Billed Madison Corp. P3,500 for computer repair services rendered. 13 Paid for salaries of clerks, P5,000. 14 Summary of cash received P4,000 and a promissory note for P2,000 for computer repair services. 15 Signed a contract with Telecom System for the repair work to be done on their computer, P15,000. 16 Paid for telephone, light and water, P3,800. 18 Sent a bill to Telecom System for repair work done. 22 Total cell phone repair work collected in cash, P8,500. 25 Repair supplies used amounted to P2,200. 30 Payments for: Salaries, P5,000; Rent, P5,000. 31 Marcie Castillo made cash withdrawal of P2,500. Required: A.) Prepare Trial balance of balancesStep by Step Solution
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