MABUHAY EQUIPMENT RENTAL

Trial Balance

December 31, 2011

DebitCredit

CashP 105,600

Accounts Receivable 72,600

Office Supplies 12,000

Prepaid Rent 82,500

Prepaid Insurance 11,880

Equipment 198,000

Accumulated Depreciation - Equip P 66,000.

Accounts Payable 51,150

Rogelio Lim, Capital 381,240

Rogelio Lim, Drawing 39,600

Rental Service Revenue 589,500

Salaries Expense 412,500

Utilities Expense 75,000

Travel Expense 58,410

Miscellaneous Expense 19,800

P 1,087,890 P1,087,890

Total

Adjustment data at December 31,2011, are as follows:

(a) Rent expense for the year 2011, amounts to P 66,000.

(b) Unexpired insurance at December 31,2011, amounts to P 2,970.

(c) The depreciation on the equipment is P 13,200 per year

(d) Salaries incurred but unpaid at December 31, 2011, amounts to P6,000

(e) Unused office supplies at December 31,2011, P 3,000

(f) Accrued Rental Service Revenue at December 31,2011, P 7,000

Required:

1. 10- column work sheet
2. income statement
3. statement of financial position or balance sheet
4. statement of capital
5. closing entries
6. post-closing trial balance