Recording Transactions in a Financial Transaction Worksheet

Lalisa Manoban has started his own business, Property Appraisals. She inspects
property for buyers and sellers of real estate. Manoban rents office space and has a
part-time assistant to answer the phone and to help with inspections. The
transactions for the month of September are as follows:
a. Manoban invested cash by making a deposit in a bank account for the business,
P150,000.
b. Paid rent for the month, P3,000.
c. Bought a second-hand service vehicle for cash, P80,000.
d. Bought service tools on account, P30,000.
e. Paid electricity bill, P500.
f. Paid a one-year insurance premium on the service vehicle, P6,000.
g. Received cash from clients for service performed, P20,000.
h. Paid salaries to assistant for the first half of the month, P20,000.
i. Performed appraisal services for clients on account, P10,000.
j. Paid water bill, P350.
k. Bought office supplies for cash, P1,000.
l. Received cash from clients for inspections performed on account in (i), P3,000.
m. Paid salaries to assistant for the last half of the month, P2,500.
n. Made partial payment on the service tools bought in (d), P10,000.
o. Additional revenues earned amounted to P20,000: P14,000 for cash and P6,000 on
account.
p. Manoban withdrew cash for personal expenses, P5,000.

Required:
1. Establish the following accounts in a financial transaction worksheet: Cash;
Accounts Receivable; Office Supplies; Prepaid Insurance; Service Tools; Service
Vehicle; Accounts Payable; Manoban, Capital; Manoban, Withdrawals; Revenues;
and Expenses.

2. Compute the ending balances for all accounts.