Yek Salon Services had the following transactions for the month of March 2019

March 1. Invested capital of P500,000

3.1.19 Cash 500,000.00

Yek, Capital 500,000.00

March 1. Paid advance payment for rent good for 3 months, P12,000

3.1.19 Prepaid Rent 12,000.00

Cash 12,000.00

March 3. Bought furniture on account, P16,000

3.3.19 Furniture 16,000.00

Accounts Payable 16,000.00

March 5. Bough machinery on cash, P25,000

3.5.19 Machinery 25,000.00

Cash 25,000.00

March 7. Bought supplies on acocunt from Supplier ABC, P7,000

3.7.19 Supplies 7,000.00

Accounts Payable 7,000.00

March 8. Received fees on cash from customers, P150,000

3.8.19 Cash 150,000.00

Fees Earned 150,000.00

March 10. Received fees on account, P60,000

3.10.19 Accounts Receivable 60,000.00

Fees Earned 60,000.00

March 12. Collected cash from customers on account from March 10 transaction, P35,000

3.12.19 Cash 35,000.00

Accounts Receivable 35,000.00
March 15. Paid salaries expense, P53,000

3.15.19 Salaries Expense 53,000.00

Cash 53,000.00

March 17. Paid other expenses, Utilities Expense - P20,000, Advertising Expense - P13,000 and Miscellaneous Expe

3.17.19 Utilities Expense 20,000.00

Advertising Expense 13,000.00
Miscellaneous Expense 4,500.00
Cash 37,500.00

March 19. Received additional fees on cash for services provided, P16,000

3.19.19 Cash 16,000.00

Fees Earned 16,000.00

March 19. Made additional purchase of supplies for P5,000 cash

3.19.19 Supplies 5,000.00

Cash 5,000.00

March 20. Paid the amount owed for supplies bought from Supplier ABC last March 7

3.20.19 Accounts Payable 7,000.00

Cash 7,000.00

March 25. Bought equipment on account, P55,000

3.25.19 Equipment 55,000.00

Accounts Payable 55,000.00

March 27. Made withdrawal for personal use, P14,000

3.27.19 Yek, Withdrawal 14,000.00

Cash 14,000.00
and Miscellaneous Expense - P4,500
ACCOUNT CASH
DATE ITEM DR CR
3.1.19 INITIAL INVESTMENT 500,000.00
3.1.19 PREPAID RENT 12,000.00
3.5.19 PURCHASE OF MACHINERY 25,000.00
3.8.19 FEES EARNED 150,000.00
3.12.19 COLLECTION 35,000.00
3.15.19 PAYMENT OF SALARIES EXPENSE 53,000.00
3.17.19 PAYMENT OF EXPENSES 37,500.00
3.19.19 FEES EARNED 16,000.00
3.19.19 PURCHASE OF SUPPLIES 5,000.00
3.20.19 PAYMENT OF SUPPLIES 7,000.00
3.27.19 WITHDRAWAL 14,000.00

ACCOUNT ACCOUNTS RECEIVABLE

DATE ITEM DR CR
3.10.19 FEES EARNED 60,000.00
3.12.19 COLLECTION 35,000.00

ACCOUNT SUPPLIES
DATE ITEM DR CR
3.7.19 PURCHASE ON ACCOUNT 7,000.00
3.19.19 PURCHASE ON CASH 5,000.00
ACCOUNT PREPAID RENT
DATE ITEM DR CR
3.1.19 PAYMENT 12,000.00

ACCOUNT FURNITURE
DATE ITEM DR CR
3.3.19 PURCHASE ON ACCOUNT 16,000.00

ACCOUNT MACHINERY
DATE ITEM DR CR
3.5.19 PURCHASE ON CASH 25,000.00

ACCOUNT EQUIPMENT
DATE ITEM DR CR
3.25.19 PURCHASE ON ACCOUNT 55,000.00
ACCOUNT ACCOUNTS PAYABLE
DATE ITEM DR CR
3.3.19 FURNITURE 16,000.00
3.7.19 SUPPLIES 7,000.00
3.20.19 PAYMENT OF SUPPLIES 7,000.00
3.25.19 EQUIPMENT 55,000.00

ACCOUNT FEES EARNED

DATE ITEM DR CR
3.8.19 FEES ON CASH 150,000.00
3.10.19 FEES ON ACCOUNT 60,000.00
3.19.19 FEES ON CASH 16,000.00
 BALANCE ACCOUNT SALARIES EXPENSE
DR CR DATE ITEM
500,000.00 3.15.19 PAID EXPENSE
488,000.00
463,000.00
613,000.00
648,000.00
595,000.00
557,500.00
573,500.00
568,500.00
561,500.00 ACCOUNT UTILITIES EXPENSE
547,500.00 DATE ITEM
3.17.19 PAID EXPENSE

BALANCE
DR CR
60,000.00 ACCOUNT ADVERTISING EXPENSE
25,000.00 DATE ITEM
3.17.19 PAID EXPENSE

BALANCE
DR CR ACCOUNT MISCELLANEOUS EXPENSE
7,000.00 DATE ITEM
12,000.00 3.17.19 PAID EXPENSE
 BALANCE
DR CR ACCOUNT YEK. CAPITAL
12,000.00 DATE ITEM
3.1.19 INITIAL INVESTMENT

BALANCE
DR CR ACCOUNT YEK, DRAWINGS
16,000.00 DATE ITEM
3.27.19 DRAWINGS

BALANCE
DR CR ACCOUNT
25,000.00 DATE ITEM

BALANCE
DR CR
55,000.00
ACCOUNT
DATE ITEM
 BALANCE
DR CR
16,000.00
23,000.00
16,000.00
71,000.00

BALANCE
DR CR
150,000.00
210,000.00
226,000.00
 BALANCE
DR CR DR CR
53,000.00 53,000.00

BALANCE
DR CR DR CR
20,000.00 20,000.00

BALANCE
DR CR DR CR
13,000.00 13,000.00

BALANCE
DR CR DR CR
4,500.00 4,500.00
 BALANCE
DR CR DR CR
500,000.00 500,000.00

BALANCE
DR CR DR CR
14,000.00 14,000.00

BALANCE
DR CR DR CR

BALANCE
DR CR DR CR
 YEK SALON SERVICES
UNADJUSTED TRIAL BALANCE
FOR THE MONTH ENDED, MARCH 31, 2019

ACCOUNTS DR CR
CASH 547,500.00
ACCOUNTS RECEIVABLE 25,000.00
SUPPLIES 12,000.00
PREPAID RENT 12,000.00
EQUIPMENT 55,000.00
FURNITURE 16,000.00
MACHINERY 25,000.00
ACCOUNTS PAYABLE 71,000.00
FEES EARNED 226,000.00
SALARIES EXPENSE 53,000.00
UTILITIES EXPENSE 20,000.00
ADVERTISING EXPENSE 13,000.00
MISCELLANEOUS EXPENSE 4,500.00
YEK. CAPITAL 500,000.00
YEK, DRAWINGS 14,000.00
TOTAL 797,000.00 797,000.00
 1. Unused supplies at the end of the month is P6,500
2. Useful life of fixed assets is 5 years with no salvage value
3. Allowance for bad debts are estimated at 2% of ending A/R

3.31.19 Supplies Expense 5,500.00

Supplies 5,500.00

3.31.19 Depreciation Expense 684.00

Accumulated Depreciation - 417.00
Accumulated Depreciation - 267.00

3.31.19 Bad Debts Expense 500.00

Allowance for Bad Debts 500.00

3.31.19 Rent Expense 4,000.00

Prepaid Rent 4,000.00
 YEK SALON SERVICES
UNADJUSTED TRIAL BALANCE
FOR THE MONTH ENDED, MARCH 31, 2019

ACCOUNTS DR CR
CASH 547,500.00
ACCOUNTS RECEIVABLE 25,000.00
ALLOWANCE FOR BAD DEBTS 500.00
SUPPLIES 5,500.00
PREPAID RENT 4,000.00
EQUIPMENT 55,000.00
FURNITURE 16,000.00
ACCUMULATED DEPRECIATION - FURNITURE 267.00
MACHINERY 25,000.00
ACCUMULATED DEPRECIATION - MACHINERY 417.00
ACCOUNTS PAYABLE 71,000.00
FEES EARNED 226,000.00
DEPRECIATION EXPENSE 684.00
BAD DEBTS EXPENSE 500.00
SUPPLIES EXPENSE 5,500.00
SALARIES EXPENSE 53,000.00
UTILITIES EXPENSE 20,000.00
ADVERTISING EXPENSE 13,000.00
MISCELLANEOUS EXPENSE 4,500.00
RENT EXPENSE 4,000.00
YEK. CAPITAL 500,000.00
YEK, DRAWINGS 14,000.00
TOTAL 793,184.00 798,184.00