Petty Cash fund

1,000

Accounts Receivable

120,000

Estimated Uncollectible Account

1,200

Unused supplies

15,000

Prepaid Insurance

8,500

Prepaid Rent

30,000

Delivery Truck

1,500,000

Acc. Depreciation - Del. Truck

250,000

Accounts Payable

130,000

Han-Mi, Capital

1,818,500

Han-Mi, Drawing

50,000

Trucking Income

935,000

Taxes and Licenses

10,000

Repairs and Maintenance

27,000

Retainer Fees

25,000

Salaries and Wages

320,000

Utilities Expense

8,200

Total

P

3,134,700

P

3,134,700

Additional Information

Provision for Uncollectible Account should be at 2% of the outstanding receivable amount.

Supplies actually on hand P5,000.

Of the prepaid Insurance, P6,200 has actually expired.

P 18,000 of the prepaid rental has expired.

Depreciation Expense for the period is P 105,000

REQUIRED.

An 8-column worksheet

Balance Sheet

Income Statement

Statement of Changes in Owner's Equity