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REQUIREMENTS: 1. Identify the following and indicate on the spaces provided following: a. Business or bank forms to be used by Mix Pro Enterprises to document the above transactions. b. Journal to be used to record the original entry for the respective transactions. 2. Prepare the journal entry (debit-credit format) to record the above transactions. Use only the accounts listed on the chart of accounts. Prepared by: RIZZALYN MAE G. MENDOZA FUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 2 3. Record the transactions in the general journal only. Format was provided. Use can also use a 2- column journal or yellow pad when you journalize. 4. Post the journal entries using general ledger. Format was provided. 5. Prepare the 10-column worksheet and start with the unadjusted trial balance. 6. Record the following adjusting entries. a. Accrual of one month rent. b. One-month depreciation computer units. Estimated life is 5 years. c. Accrue employee salary, P10,000.00. 7. Prepare the financial statements from the adjusted trial balance. 8. Prepare necessary closing entries and record on the general journal and ledger.9. Perform financial statement analysis on the completed financial statements. Mix Pro Enterprises Chart of Accounts BALANCE SHEET Account Number Account Name 1000 Cash 1200 Accounts Receivable 1201 Allowance for Bad Debts 1300 Inventory 1400 Prepaid Expenses 1600 Office Equipment 1601 Accum. Deprn. - Off Eqpt 1800 Land 2000 Accounts Payable 2100 Notes Payable 2201 Salaries Payable 2202 Utilities Payable 3000 L. Paez, Drawings 3100 L. Paez, Capital INCOME STATEMENT Account Number Account Name 4100 Sales 4101 Sales Returns and Allowances 4102 Sales Discount 5100 Cost of Sales 6100 Salaries Expense 6150 Supplies Expense 6200 Utilities Expense 6250 Travel Expense 6300 Rental Expense 6350 Fuel Expense 6400 Advertising Expense 6450 Commissions Expense 6500 Depreciation Expense 6700 Interest ExpenseFUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 2 EXERCISE 9-1. APPLICATION: Practice Set FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 2 Practice Set Leslie M. Paez, owner of Mix Pro Enterprises is a wholesaler of office and school supplies. The following are its transactions for the first month of its operations, August 31, 2019. All cash disbursements are made by bank check. The entity uses perpetual inventory and gross method in recording inventories. Date Business/Bank Journal to Transactions forms to be document the 2019 filled up transaction August Leslie made an initial contribution to the business by depositing money 1 in the company's bank account worth $250,000. Paid in advance office rental for 6 months, #24,000.00 to Mrs. Elma De 2 Vera. Purchased 2 computer units from BCG Inc. for office use. Payment term: COD (Cash on Delivery) at $27,500.00 each. 5 Received 250 bond papers ordered from China Mart. Credit terms: 2/10, n/30, P31,250. Delivered 140 reams of bond papers to Alex Merchandising. Payment 7 terms: 2/10, n/20. Cost of merchandise was $17,500.00 and sold for P38,500.00. 9 Paid the August 5 purchases. 15 Paid the salary of Cecille Larazabal, her employee, #10,000.00 17 Received payment from the August 7 sales. Sold 25 reams of bond papers to Bee Company for P6,875.00. Bee 19 picked up the merchandise from the store. Payment term: 15 days. Cost of merchandise was P3,125.00. 20 Received 15 boxes of pilot pens from Champ Corporation. Payment terms: COD #37,500.00 22 Over the counter sale of 5 boxes of ballpoint pens to Joy Company worth P16,500.00. Cost of merchandise was $7,500.00 23 Received 10 calculators from Charlie Trading. Payment terms: 30 days.15 Paid the salary of Cecille Larazabal, her employee, PIU,QUU.UU 17 Received payment from the August 7 sales Sold 25 reams of bond papers to Bee Company for P6,875.00. Bee 19 picked up the merchandise from the store. Payment term: 15 days. Cost of merchandise was $3,125.00. 20 Received 15 boxes of pilot pens from Champ Corporation. Payment terms: COD #37,500.00 22 Over the counter sale of 5 boxes of ballpoint pens to Joy Company worth #16,500.00. Cost of merchandise was $7,500.00 23 Received 10 calculators from Charlie Trading. Payment terms: 30 days. P3,250.00. Sold 7 calculators to Japs Marketing amounting to P5,005.00. Japs 25 picked up the merchandise from the store. Payment Term: 15 days. Cost of merchandise was #2,275.00. 25 Paid electricity bill to Ceneco amounting to $7,320.50. 27 Received 2 defective calculators sold at $715.00 each from Champ Company. Cost of defective calculators is $650.00 31 Over the counter cash withdrawal by the owner Leslie M. Paez, for her personal expenses. P10,000.00