GARCIA'S DATA ENCODERS

TRIAL BALANCE
MAY

ACCOUNT TITLE DEBIT CREDIT

1 Cash ₱ 115,290.00
2 Equipment ₱ 72,650.00
3 Signage ₱ 9,000.00
4 Computer Software ₱ 39,000.00
5 Supplies ₱ 2,290.00
6 Account Payable ₱ 30,290.00
7 Rent Expense ₱ 5,300.00
8 Advertising Expense ₱ 3,230.00
9 Utilities Expense ₱ 1,240.00
10 Salaries Expense ₱ 8,400.00
11 Service Revenue ₱ 16,110.00
12 Garcia's Capital ₱ 214,500.00
13 Garcia Withdrawals ₱ 4,500.00
₱ 260,900.00 ₱ 260,900.00
 GARCIA DATA ENCODERS
STATEMENT OF FINANCIAL PERFORMANCE
MAY

Service Revenue ₱ 16,110.00

Less: Expenses

Rent Expense ₱ 5,300.00

Advertising Expense ₱ 3,230.00
Utilities Expense ₱ 1,240.00
Salaries Expense ₱ 8,400.00
Total Expenses: ₱ 18,170.00
Net Loss: ₱ 2,060.00
 GARCIA DATA ENCODERS
STATEMENT OF CHANGES IN EQUITY
MAY

Garcia's Beginning Capital: ₱ 157,000.00

Additional Investment: ₱ 57,500.00
₱ 214,500.00
Less: Tan Withdrawals ₱ 4,500.00
Total Capital: ₱ 210,000.00
Net Loss: ₱ 2,060.00
Garcia Capital as of May 31 ₱207,940.00
 GARCIA DATA ENCODERS
STATEMENT OF FINANCIAL POSITION
MAY

ASSETS
Current Asset
Cash ₱ 115,290.00
Supplies ₱ 2,290.00
Total Current Assets ₱ 117,580.00
Non Current Assets
Equipment ₱ 72,650.00
Signage ₱ 9,000.00
Computer Software ₱ 39,000.00
Total Non Current Assets ₱ 120,650.00

Total Assets ₱ 238,230.00

LIABILITIES AND OWNER'S EQUITY

Current Liabilities
Accounts Payable ₱ 30,290.00

EQUITY
Garcia's Capital ₱207,940.00

Total Liabilities and Owner's Equity ₱238,230.00