prepare income statement and balance sheet

Lucio Sy Repair Shop Worksheet For Year-Ended December 31, 2019 Thal Balance Adjustments Adjusted Trial Balance Income Statement Debit pensas Credit revenue Balance Sheet Debit Asset, Credit (LCA, Drawing) P50,000 Cred Debit Credit Credit Debit P 50,000 59,000 7,000 80,000 120,000 c) P 5,000 b) P48,000 Debit P 50,000 59,000 2,000 32,000 120,000 No. Account Title 110 Cash 120 Accounts Receivable 130 Supplies 140 Prepaid Insurance 150 Office Equipment 155 Accumulated Depreciation Office Equipment 220 Accounts Payable 300 L, Capital 310 L, Drawing 410 Service Income 510 Rent Expense 520 Salaries Expense 530 Utilities Expense Totals P 25,000 66,000 100,000 P25,000 66,000 100,000 50,000 50,000 320,000 320,000 d) P3,000 73,000 45,000 27,000 P. 511.000 73,000 48,000 27,000 2.511.000 a)P14,750 a)P14,750 a) P14,750 a)P14,750 Bad Debts Allowance for Bad Debts Insurance Expense Supplies Expense Salaries Payable Totals b)P48,000 c)P5,000 b)P48,000 c)P5,000 d) P 3,000 P 70.750 d) P3,000 P 528, 250 P 70.750 P 528,750