Question
On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City. The name of the business was Termas Carwash. During the
On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City. The name of the business was Termas Carwash. During the first month of operation, the business showed the following account balances as results of business operations for the whole month as follows: Cash 82000 Accounts Receivable 16000 Carwash Supplies 4500 Carwash Equipment 68000 Carwash Facility 120000 Accounts Payable 1550 Termas, Capital 269310 Termas, Drawing 50000 Carwash Service Income 105000 Wages Expense 31460 Utilities Expense 1200 Taxes and Licenses 750 Other Expenses 450 Supplies Expense 1500 You are to prepare a trial balance, income statement and balance sheet for Philip John Termas on April 30, 2017 using the data above. Particulars Debit Credit
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