TRANSACTIONS

Melaica invested P50,000 cash and equipment

Bought P15,000 equipment from Chelsey Company on credit
Consultancy services rendered on account on account P12,000
Paid Chelsey Company P5,000 as partial payment of account
Consultancy services rendered for cash P8,000
Collected P3,000 from customer
Received electric bill from Meralco P2,800
Returned P1,500 defective equipment to Chelsey Company
Melaica withdrew P9,000 from the Company's Bank and deposit it in his own account
Paid electricbill to meralco
The Company paid P40,000 for Melaica's personal vacation and shopping spree in HK
Paid Chelsey Company in full
Melaica deposited P14,000 in the Company Bank account from her personal money
Paid telephone bill for the month P9,600, this bill includes P6,000 of Melaica's personal long distance cal
TOTAL :
TOTAL :
TOTAL :
 ASSETS LIABILITIES OWNER'S EQUITY
CASH AR FUR & FIX AP U. PAYABLE EXPENSES INCOME MELAICA CAPITAL
50,000 20,000 70,000
15,000 15,000
12,000 12,000
-5,000 -5,000
8,000 8,000
3,000 3,000
NO ENTRY
-1,500 -1,500
9,000 9,000
-2,800 -2,800
40,000 40,000
-8,500 -8,500
-14,000 -14,000
-9,600 -9,600
30,100 52,000 33,500 9,000 0 (12,400) 23,000 96,000
115,600 (3,400) 119,000
115600