MR.

ONG

1.
May 1 Cash 300,000
Ong, Capital 300,000
*Mr. Ong invested cash for his audit firm

6 Equipment 34,000

Cash 34,000

*Mr. Ong bought equipment through cash

15 Accounts receivable 21,000

Service Revenue 21,000

*Mr. Ong performed audit service for Mr. Tan on account

21 Income tax expense 1,000

Cash 1,000

*Mr. Ong paid his income tax expenses through cash

30 Cash 21,000

Accounts receivable 21,000

*Mr. Ong received cash from Mr. Tan

2.
3.

Mr. Ong
Trial Balance

Debit Credit
Cash 286,000
Accounts Receivable 0
Equipment 34,000
Ong, Capital 300,000
Service Revenue 21,000
Income Tax Expense 1,000
TOTAL 321,000 321,000