DATE PARTICULARS PR DEBIT CREDIT

DEC 1 Cash 100,000

Equity, Dela Cruz 100,000
To record initial capital

2 Shop Tools 12,000

Cash 12,000
To record purchasing shop tools

3 Shop Equipments 65,500

Account Payable 65,500
To record shop equipment from Grasco Equipment Corp

4 Expense Taxes and Licenses 1,950

Cash 1,950
To record payment city hall business permits and other req

5 Office Supplies 3,000

Cash 3,000
To record payment office supplies

6 Office Supplies 8,500

Accounts Payable 8,500
To record payment office supplies

7 Notes Payable 20,000

Cash 20,000
To record borrowed cash

8 Service Income 13,250

Cash 13,250
To record rendered service

9 Accounts Receivable 18,500

Service Income 18,500
To record rendered repair service

10 Accounts Payable 65,500

Cash 65,500
To record payment in full the amount due to Grasco Equi

11 Accounts Receivable 2,500

Cash 2,500
To record payment services
12 Direct Charges- Salaries, Wages and Benefits 3,000
Cash 3,000
To record payment wages of the part-time shop assistant

13 Direct Charges- Rental 14,000

Cash 14,000
To record payment of rent to Fame Realty

14 Rent Income 800

Cash 800
To record rent collected

15 Drawing, Dela Cruz 10,000

Cash 10,000
To record Juan dela Cruz withdrawal

Total 338,500 338,500

 Balance
Date Particulars PR Debit Credit Debit Credit
CASH
2019 1 Initial capital 100,000 100,000
2 Shop tools 12,000 88,000
4 Taxes and Licenses 1,950 86,050
5 Office Supplies 3,000 83,050
7 Borrowed cash 20,000 103,050
8 Rendered service 13,250 116,300
10 Payment in full the amount due 65,500 50,800
11 Payment services 2,500 53,300
12 Salaries, Wages and Benefits 3,000 50,300
13 Rental 14,000 36,300
14 Rent Income 800 37,100
15 Juan dela Cruz withdrawal 10,000 27,100

Balance
Date Particulars PR Debit Credit Debit Credit
ACCOUNT RECEIVABLE
2019 9 Repair Service 18,500 18,500
11 Services 2,500 16,000

SHOP TOOLS
Balance
Date Particulars PR Debit Credit Debit Credit
2019 2 Shop Tools 12,000 12,000

SHOP EQUIPMENTS
Balance
Date Particulars PR Debit Credit Debit Credit
2019 3 Shop Equipments 65,500 65,500

OFFICE SUPPLIES
Balance
Date Particulars PR Debit Credit Debit Credit
2019 5 Office Supplies 3,000 3,000
6 Office Supplies 8,500 11,500

ACCOUNT PAYABLE
Balance
Date Particulars PR Debit Credit Debit Credit
2019 3 Shop Equipments 65,500 65,500
6 Office Supplies 8,500 74,000
10 Payment in full the amount due to Grasco Equipm 65,500 8,500

EQUITY JUAN DELA CRUZ

Balance
Date Particulars PR Debit Credit Debit Credit
1 Equity Juan Dela Cruz 100,000 100,000

NOTES PAYABLE
Balance
Date Particulars PR Debit Credit Debit Credit
7 Borrowed cash 20,000 20,000

DRAWINGS, JUAN DELA CRUZ

Balance
Date Particulars PR Debit Credit Debit Credit
15 Drawing Juan Dela Cruz 10,000 10,000

RENT INCOME
Balance
Date Particulars PR Debit Credit Debit Credit
14 rent income 800 800

DIRECT CHARGES - WAGES, SALARIES AND BENEFITS

Balance
Date Particulars PR Debit Credit Debit Credit
12 Wages 3,000 3,000

DIRECT CHARGES - RENTAL

Balance
Date Particulars PR Debit Credit Debit Credit
13 Rental 14,000 14,000

EXPENSE - TAXES AND LICENSES

Balance
Date Particulars PR Debit Credit Debit Credit
4 Taxes and Licenses 1,950 1,950
 RELIABLE REPAIR SHOP
TRIAL BALANCE
2019
ACCOUNT TITLE DEBIT CREDIT
Cash 27,100
Accounts receivable 16,000
Office/shop supplies 11,500
Shop equipments 65,500
Shop tools 12,000
Accounts payable 8,500
Notes payable 20,000
Equity, Geneviva Abuan 100,000
Drawings 10,000
Service Income 31,750
Rent income 800
Direct charges - wages, salaries and equity 3,000
Direct charges - rental 14,000
Expense - taxes and licenses 1,950

TOTAL 161,050 161,050