Name: _Judy Mae A.

Lazaga__

Part 1. Supply the missing amounts.

Case Assets Liabilities Capital

1 68,000 25,000 43,000

2 85,000 31,000 54,000

3 102,000 49,000 53,000

4 174,000 104,000 70,000

5 208,000 127,000 81,000

6 220,000 100,000 120,000

7 144,000.6 60% 144,000

8 400,000 399.999.2 80%

9 500,000 40,000 460,000

10 35,000.65 35,000 65%

Part 2. Classify the account titles according to their respective accounting elements and indicate their respective
normal balances. For normal balances (NB) indicate whether it is debit or credit.
Elements Symbol(S)
ASSET A
LIABILITY L
OWNER’S EQUITY C
REVENUE R
EXPENSES E

Account titles S NB

Accounts Payable L Credit

Accounts receivable A Debit

Accumulated depreciation- office equipment A Debit

Cash in bank A Debit

Commission income R Credit

Depreciation expense E Debit

Electricity expense E Debit

Income tax payable L Credit

Salaries expense E Debit

Office equipment A Debit

Office supplies expense E Debit

Baldado, drawing C Credit

Professional fee R Credit

Business tax payable L Credit

Unused supplies E Debit

Loss on sale of equipment A Debit

Gain on sale of land A Debit

Land A Debit

Service Equipment A Debit

SSS premium payable L Credit

Baldado, Capital C Credit

Building A Debit

Training expense E Debit

Income tax payable L Credit

Prepaid taxes and licenses E Debit