Prac set

CLASSIC AUTO REPAIR SERVICES Worksheet For the month ended January 31, 20B Account Title Adjustments Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Cash on Hand Cash in Bank Accounts Receivable Shop Supplies Inventory Prepaid Insurance Shop Equipment Acc. Depreciation - SE Furniture & Fixtures Acc. Depreciation - F/F Accounts Payable Notes Payable Unearned Service Income Bombeo, Capital Bombeo, Drawings Service Income Salaries & Wages Transportation Expense Total Adjusments: Bad Debts Allowance for Bad Debts Depreciation Expense Shop Supplies Used Insurance Expense Interest Expense Accrued Interest Expense Rental Expense Accrued Rental Expense Taxes & Licenses Accrued Taxes & Licenses Utilities Expense TOTAL Profit For the Month Trial Balance Debit Credit 14,780.00 109,885.00 41,600.00 69,100.00 2,400.00 240,000.00 24,000.00 75,000.00 7,500.00 43,900.00 100,000.00 10000 305,465.00 15,000.00 92,930.00 15,160.00 870.00 583,795.00 583,795.00 61,482.00 61,482.00 92,930.00 517,465.00 77,512.00 15,418.00 92,930.00 502,047.00 15,418.00 517,465.00 92,930.00 517,465.00 Classic Auto Repair Services Income Statement For the month ended 31 January 20B Revenue: Service Income P. Operating Expenses: P Salaries and Wages Transportation Expense Bad Debts Depreciation Expense Shop Supplies Used Insurance Expense Rent Expense Taxes & Licenses Utilities Expense P. Operating Income Less: Finance Charges Interest Expense Profit for the month P Classic Auto Repair Services Statement of Changes in Owner's Equity For the month ended 31 January 20B P M. Bombeo, Owner's Equity-Jan. 1, 20B Add: Profit for the month Total P Less: Withdrawal M. Bombeo, Owner's Equity - January 31, 20B P Classic Auto Repair Services Balance Sheet As of January 31, 20B ASSETS Current Assets: P P. Cash on Hand Cash in Bank Accounts Receivable Allow. for Bad Debts Shop Supplies Inventory Prepaid Insurance Total Current Assets P Non-Current Assets: P. Property and Equipment Shop Equipment Acc. Depreciation - Shop Equipment Furniture & Fixtures Acc. Depreciation- Furniture & Fixtures Total non-current Total Assets P P LIABILITIES Current Liabilities: Accounts Payable Notes Payable Accrued Interest Expense Accrued Rental Expense Accrued Taxes & Licenses Accrued Utilities Expense Unearned Service Income Total Current Liabilities P OWNERS EQUITY M. Bombeo, Capital Total Liabilities and Owner's Equity P P Classic Auto Repair Services Schedule of Accounts Receivable As of January 31, 20B Cotabato Transit P Davao Transprot Services Mindanao Trucking Services MS Lopez Publishing TOTAL P Classic Auto Repair Services Schedule of Accounts Payable As of January 31, 20B ABC Hardware and Auto Supply P Cathay Auto Supply Inc. Custombuilt Auto Supply Co. TOTAL CLASSIC AUTO REPAIR SERVICES Worksheet For the month ended January 31, 20B Account Title Adjustments Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Cash on Hand Cash in Bank Accounts Receivable Shop Supplies Inventory Prepaid Insurance Shop Equipment Acc. Depreciation - SE Furniture & Fixtures Acc. Depreciation - F/F Accounts Payable Notes Payable Unearned Service Income Bombeo, Capital Bombeo, Drawings Service Income Salaries & Wages Transportation Expense Total Adjusments: Bad Debts Allowance for Bad Debts Depreciation Expense Shop Supplies Used Insurance Expense Interest Expense Accrued Interest Expense Rental Expense Accrued Rental Expense Taxes & Licenses Accrued Taxes & Licenses Utilities Expense TOTAL Profit For the Month Trial Balance Debit Credit 14,780.00 109,885.00 41,600.00 69,100.00 2,400.00 240,000.00 24,000.00 75,000.00 7,500.00 43,900.00 100,000.00 10000 305,465.00 15,000.00 92,930.00 15,160.00 870.00 583,795.00 583,795.00 61,482.00 61,482.00 92,930.00 517,465.00 77,512.00 15,418.00 92,930.00 502,047.00 15,418.00 517,465.00 92,930.00 517,465.00 Classic Auto Repair Services Income Statement For the month ended 31 January 20B Revenue: Service Income P. Operating Expenses: P Salaries and Wages Transportation Expense Bad Debts Depreciation Expense Shop Supplies Used Insurance Expense Rent Expense Taxes & Licenses Utilities Expense P. Operating Income Less: Finance Charges Interest Expense Profit for the month P Classic Auto Repair Services Statement of Changes in Owner's Equity For the month ended 31 January 20B P M. Bombeo, Owner's Equity-Jan. 1, 20B Add: Profit for the month Total P Less: Withdrawal M. Bombeo, Owner's Equity - January 31, 20B P Classic Auto Repair Services Balance Sheet As of January 31, 20B ASSETS Current Assets: P P. Cash on Hand Cash in Bank Accounts Receivable Allow. for Bad Debts Shop Supplies Inventory Prepaid Insurance Total Current Assets P Non-Current Assets: P. Property and Equipment Shop Equipment Acc. Depreciation - Shop Equipment Furniture & Fixtures Acc. Depreciation- Furniture & Fixtures Total non-current Total Assets P P LIABILITIES Current Liabilities: Accounts Payable Notes Payable Accrued Interest Expense Accrued Rental Expense Accrued Taxes & Licenses Accrued Utilities Expense Unearned Service Income Total Current Liabilities P OWNERS EQUITY M. Bombeo, Capital Total Liabilities and Owner's Equity P P Classic Auto Repair Services Schedule of Accounts Receivable As of January 31, 20B Cotabato Transit P Davao Transprot Services Mindanao Trucking Services MS Lopez Publishing TOTAL P Classic Auto Repair Services Schedule of Accounts Payable As of January 31, 20B ABC Hardware and Auto Supply P Cathay Auto Supply Inc. Custombuilt Auto Supply Co. TOTAL