Instructions

Prepare a tabular analysis of the transactions, using the tabular form

ASSETS

=

Liabilities

+

Owner's Equity

Date

Cash

Account Receivable

Supplies

Car/Vehicle

Equipment

Accounts Payable

J. Madela, Capital

J. Madela, Drawings

Revenue

Expenses

Madela Repair Shop started on August 1, of the current year by Jack Madela ( The owner). A summary of August transaction is presented below.
Aug	1		Invested P30,000 cash to start the repair shop.
	4		Purchased equipment for P10,000 cash
	7		Paid P4,000 cash for August office rent
	9		Paid P5,0000 cash for supplies purchased
	10		Provided repair service on account to customers, P4,000
	11		Incurred P2,500 of advertising cost in the bulletin Today on account
	12		Received P8,200 in cash from customers for repair services
	16		Withdrew P5,000 cash for personal use
	19		Paid parttime employee salaries P2,000
	23		Paid Utility bills P1,400
	30		Collected cash of P2,400 for services billed in transaction (10)
	31		Supplies used for the month amounted to P3,127