POLYTECHNIC UNIVERSITY OF THE PHILIPPINES

Santa Rosa Campus City of Santa Rosa, Laguna

PRACTICE SET

Bookkeeping for Service Business

BTLE 30043

In Partial Fulfillment of

The Requirements for the Degree of

Bachelor of Business Technology and

Livelihood Education Major in Home Economics

Submitted By:

Padilla, Crishamei Z.

BBTLEDHE-SR 1-1

Submitted to:

Prof. Teresita Bautista

S.Y. 2020-2021
MAYBUNGA EMPLOYMENT SERVICES HAS THE FOLLOWING ACCOUNTS AND THEIR BALANCES AS OF
JULY 1, 2020:

Account Title Balance Account Title Balance

CASH 142, 800 FEES EARNED -
ACCOUNTS RECEIVABLE 11,650 SALARIES EXPENSE -
SUPPLIES 3,590 RENT EXPENSE -
PREPAID INSURANCE - ADVERTISING EXPENSE -
FURNITURE AND FIXTURES 37, 800 UTILITIES EXPENSE -
OFFICE EQUIPMENT 95,600 TRANSPORTATION EXPENSE -
ACCOUNTS PAYABLE 16,750 MISCELLANEOUS EXPENSE -
NOTES PAYABLE -
F. MORALES, CAPITAL 274,690
F. MORALES, DRAWING

Maybunga Employment Services completed the following transactions during the month of July and August, 2020:

July 1 Purchased supplies for cash P1,220

1 Bought furniture and fixtures for P24,400 paying cash P6,400 and giving three notes of
P6,000 each for the remainder.
2 Paid rent for the month P5,900 cash
5 Collected P7,250 from the beginning accounts receivable
7 Recorded fees earned receiving cash, P16,420
7 Purchased supplies on account P5,860 from My Office Co.
8 Returned defective supplies to My Office Co. worth P510
10 Paid P6,750 for a one-year fire insurance premium, and P3,630 for newspaper
advertisement. (use Prepaid Insurance account)
15 Paid salaries of employees P8,750
16 Paid creditors on account, P9,150
19 Recorded fees earned and sent invoices to customers, P17,460
21 Paid electricity and water bills for the month, P3,180, telephone bills P3,630
23 Paid P1,600 for transportation expense, and P1,780 for miscellaneous expenses
27 Received cash from customers on account, P18,640
30 Paid salaries of employees, P8,830
31 The owner withdrew P7,500 to pay his personal expenses
31 Paid the first note issued on July 1, P6,000 and an interest of the note, P100.

August 2 Sent bills customers for services rendered, P 20, 302.50

3 Received promissory note from Mr. Perez, P15,250 for employment services
5 Bought additional supplies from Warehouse Office on account, P30,525.75
8 Returned defective supplies to Warehouse Office, P125.25
12 Bought additional Office Equipment P50, 450 from Amber Son Inc. , paying ½ and the
balance on account.
15 Paid salaries of employees, P8,785
15 Received cash from various customers P21, 650.50
 17 Paid in full the account to My Office Co.
20 Paid the following bills:
Electricity and Water P4,260.25
Telephone Bills P 5,030.20

August 22 The owner withdrew P10,500 from the business

25 Paid the account to Amber Son Inc., P5,250 cash and the balance a promissory note.
27 Collected in full the account from various customers rendered last August 2.
29 Paid in full the account to Warehouse Office.
30 Paid the second note issued on July 1, P6,000 and an interest of the note P100
30 Received full payment from Mr. Perez plus an interest of P500.

DIRECTIONS:
1. Open the accounts listed above in the general ledgers to record the beginning balances under the date July 1,
2020. Write “Balance” in the Item column, and place a check mark in the PR column.
2. Record the July and August transactions in the general journal.

Maybunga Employment Services completed the following transactions during the month of July and August, 2020

Maybunga Employment Services - General Journal

DATE
DESCRIPTION P/R DEBIT CREDIT
2020
July 1 Supplies 1 220.-
Cash 1 220.-
Purchased supplies for cash.

1 Furniture and Fixtures 24 400.-

Cash 6 400.-
Notes Payable - three notes 18 000.-
Bought furniture and fixtures for cash and giving
three notes for the remainder.

2 Rent Expense 5 900.-

Cash 5 900.-
Paid rent for the month.

5 Cash 7 250.-
Accounts Receivable 7 250.-
Collected cash from the beginning accounts
receivable.

7 Cash 16 420.-
Fees Earned 16 420.-
Recorded fees earned receiving cash.
7 Supplies 5 860.-
Accounts Payable - My Office Co. 5 860.-
Purchased supplies on account.
8 Accounts Payable My Office Co. 510.-
Supplies 510.-
Returned defective supplies to My Office Co.

10 Prepaid Insurance 6 750.-

Advertising Expense 3 630.-
Cash 10 380.-
Paid cash for a one-year fire insurance premium, and
newspaper advertisement.

15 Salaries Expense 8 750.-

Cash 8 750.-
Paid salaries of employees.

16 Accounts Payable 9 150.-

Cash 9 150.-
Paid creditors on account.

19 Accounts Receivable 17 460.-

Fees Earned 17 460.-
Recorded fees earned and sent invoices to
customers.

21 Utilities Expense 6 810.-

Cash 6 810.-
Paid electricity and water bills and telephone bills
for the month.

23 Transportation Expense 1 600.-

Miscellaneous Expense 1 780.-
Cash 3 380.-
Paid for transportation and miscellaneous expenses.

27 Cash 18 640.-
Accounts Receivable 18 640.-
Received cash from customers on account.

30 Salaries Expense 8 830.-

Cash 8 830.-
Paid salaries of employees.

31 Owner's Drawing 7 500.-

 Cash 7 500.-
The owner withdrew cash to pay his personal
expenses.

31 Notes Payable 6 000.-

Interest Expense 100.-
Cash 6 100.-
Paid the first note issued on July 1 and an interest of
the note.

Aug 2 Accounts Receivable 20 302.5.-

Fees Earned 20 302.5.-
Sent bills customers for services rendered.

3 Notes Receivable - Mr. Perez 15 250.-

Fees Earned 15 250.-
Received promissory note from Mr. Perez for
employment services.

5 Supplies 30 525.75.-
Accounts Payable - Warehouse Office 30 525.75.-
Bought additional supplies from Warehouse Office
on account.

8 Accounts Payable 125.25.-

Supplies 125.25.-
Returned defective supplies to Warehouse Office.

12 Office Equipment 50 450.-

Cash 25 225.-
Accounts Payable - Amber Son Inc. 25 225.-
Bought additional Office Equipment from Amber
Son Inc., paying ½ and the balance on account.

15 Salaries Expense 8 750.-

Cash 8 750.-
Paid salaries of employees.

15 Cash 21 650.5.-
Fees Earned 21 650.5.-
Received cash from various customers.

17 Accounts Payable - My Office Co. 5 350.-

Cash 5 350.-
Paid in full the account to My Office Co.
 20 Utilities Expense 9 290.45.-
Cash 9 290.45.-
Paid the electricity, water and telephone bills.

22 Owner's Drawing 10 500.-

Cash 10 500.-
The owner withdrew cash from the business.

25 Accounts Payable - Amber Son Inc. 25 225.-

Cash 5 250.-
Notes Payable 19 975.-
Paid the account to Amber Son Inc. cash and the
balance a promissory note.
27 Cash 20 302.5.-
Accounts Receivable 20 302.5.-
C57Collected in full the account from various
customers rendered last August 2.

29 Accounts Payable - Warehouse Office 30 400.5.-

Cash 30 400.5.-
Paid in full the account to Warehouse Office.

30 Notes Payable 6 000.-

Interest Expense 100.-
Cash 6 100.-
Paid the second note issued on July 1 and an interest
of the note.

30 Cash 15 750.-
Notes Receivable - Mr. Perez 15 250.-
Interest Income 500.-
Received full payment from Mr. Perez plus an
interest.
428 532.45.- 428 532.45.-

3. Post all entries to the general Ledgers. Prepare you own Chart of Accounts
 Maybunga Employment Services - General Ledger w/ Pencil Foot

CASH Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 142 800.- July 1 1 220.-
5 7 250.- 1 6 400.-
7 16 420.- 2 5 900.-
27 18 640.- 10 10 380.-
Aug 15 21 650.5.- 15 8 750.-
27 20 302.5.- 16 9 150.-
30 15 750.- 21 6 810.-
23 3 380.-
30 8 830.-
31 7 500.-
31 6 100.-
Aug 12 25 225.-
15 8 750.-
17 5 350.-
20 9 290.45.-
22 10 500.-
25 5 250.-
29 30 400.5.-
30 6 100.-
67 527.05.- 24 2813.- 175 285.95.-

ACCOUNTS RECEIVABLE Acct. No. 12

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 11 650.- July 5 7 250.-
19 17 460.- 27 18 640.-
Aug 2 20 302.5.- Aug 27 20 302.5.-
3 220.- 49 412.5.- 46 192.5.-

NOTES RECEIVABLE Acct. No. 13

DATE DATE
ITEMS P/R DEBIT ITEMS P/R CREDIT
2020 2020
Aug 3 15 250.- Aug 30 15 250.-
0.- 15 250.- 15 250.-

SUPPLIES Acct. No. 14

 DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 3 590.- July 8 510.-
1 1 220.- Aug 8 125.25.-
7 5 860.-
Aug 5 30 525.75.-
40 560.5.- 41 195.75.- 635.25.-

FURNITURE & FIXTURES Acct. No. 16

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 37 800.-
1 24 400.-
62 200.- 62 200.-

OFFICE EQUIPMENT Acct. No. 15

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 95 600.-
Aug 12 50 450.-
146 050.- 146 050.-

ACCOUNTS PAYABLE Acct. No. 21

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 8 510.- July 1 Balance 16 750.-
16 9 150.- 7 5 860.-
Aug 8 125.25.- Aug 5 30 525.75.-
17 5 350.- 12 25 225.-
25 25 225.-
29 30 400.5.-
70 760.75.- 7 600.- 78 360.75.-

NOTES PAYABLE Acct. No. 22

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31 6 000.- July 1 Balance 18 000.-
30 6 000.- Aug 25 19 975.-
12 000.- 25 975.- 37 975.-

F. MORALES, CAPITAL Acct. No. 31

 DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance 274 690.-
274 690.- 274 690.-

F. MORALES, DRAWING Acct. No. 32

DATE ITEMS P/R DEBIT DATE ITEMS PR CREDIT
2020 Balance 2020
July 31 7 500.-
Aug 22 10 500.-
18 000.- 18 000.-

FEES EARNED Acct. No. 41

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 7  Balance 16 420.-
19 17 460.-
Aug 2 20 302.5.-
3 15 250.-
15 21 650.5.-
91 083.- 91 083.-

INTEREST INCOME Acct. No. 42

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
Aug 30  Balance 500.-
500.- 500.-

SALARIES EXPENSE Acct. No. 51

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 15  Balance 8 750.-
30 8 830.-
Aug 15 8 750.-
26 330.- 26 330.-

RENT EXPENSE Acct. No. 52

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 2  Balance 5 900.-
5 900.- 5 900.-
 PREPAID INSURANCE Acct. No. 53
DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 10  Balance 6 750.-
6 750.- 6 750.-

ADVERTISING EXPENSE Acct. No. 54

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 10  Balance 3 630.-
3 630.- 3 630.-

INTEREST EXPENSE Acct. No. 55

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31  Balance 100.-
Aug 30 100.-
200.- 200.-

UTILITIES EXPENSE Acct. No. 56

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 21  Balance 6 810.-
Aug 20 9 290.45.-
16 100.45.- 16 100.45.-

TRANSPORTATION EXPENSE Acct. No. 57

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 23  Balance 1 600.-
1 600.- 1 600.-

MISCELLANEOUS EXPENSE Acct. No. 58

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 23  Balance 1 780.-
1 780.- 1 780.-

Maybunga Employment Services - Chart of Accounts

ACCOUNT TITLE
ASSETS
 CASH
ACCOUNTS RECEIVABLE
NOTES RECEIVABLE
SUPPLIES
FURNITURES & FIXTURES
OFFICE EQUIPMENT

LIABILITIES
ACCOUNTS PAYABLE
NOTES PAYABLE
OWNER'S EQUITY
F. MORALES, CAPITAL
F. MORALES, DRAWING
REVENUE
FEES EARNED
INTEREST INCOME
INCOME SUMMARY
ACCOUNT
EXPENSE
SALARIES EXPENSE
RENT EXPENSE
PREPAID INSURANCE
ADVERTISING EXPENSE
INTEREST EXPENSE
UTILITIES EXPENSE
TRANSPORTATION EXPENSE
MISCELLANEOUS EXPENSE

4. Pencil foot all ledger accounts and prepare Trial Balance of Balances

A. TRIAL BALANCE OF BALANCES

Maybunga Employment Services

TRIAL BALANCE
August 31 2020

DEBIT CREDIT
CASH 67 527.05.-
ACCOUNTS RECEIVABLE 3 220.-
SUPPLIES 40 560.5.-
OFFICE EQUIPMENT 146 050.-
FURNITURES & FIXTURES 62 200.-
ACCOUNTS PAYABLE 7 600.-
NOTES PAYABLE 25 975.-
F. MORALES, CAPITAL 274 690.-
F. MORALES, DRAWING 18 000.-
FEES EARNED 91 083.-
INTEREST INCOME 500.-
RENT EXPENSE 5 900.-
 PREPAID INSURANCE 6 750.-
ADVERTISING EXPENSE 3 630.-
SALARIES EXPENSE 26 330.-
UTILITIES EXPENSE 16 100.45.-
TRANSPORTATION EXPENSE 1 600.-
MISCELLANEOUS EXPENSE 1 780.-
INTEREST EXPENSE 200.-
399 848.- 399 848.-

5. Prepare a 6-column Worksheet

Maybunga Employment Services
WORKSHEET
August 31, 2020

Trial Balance Income Statement Balance Sheet

Account Title
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
CASH 67 527.05.- 67 527.05.-
ACCOUNTS RECEIVABLE 3220.- 3 220.-
SUPPLIES 40 560.5.- 40 560.5.-
OFFICE EQUIPMENT 146 050.- 146 050.-
FURNITURES & FIXTURES 62 200.- 62 200.-
ACCOUNTS PAYABLE 7 600.- 7 600.-
NOTES PAYABLE 25 975.- 25 975.-
F. MORALES, CAPITAL 274 690.- 274 690.-
F. MORALES, DRAWING 18 000.- 18 000.-
FEES EARNED 91 083.- 91 083.-
INTEREST INCOME 500.- 500.-
RENT EXPENSE 5 900.- 5 900.-
PREPAID INSURANCE 6 750.- 6 750.-
ADVERTISING EXPENSE 3 630.- 3 630.-
SALARIES EXPENSE 26 330.- 26 330.-
UTILITIES EXPENSE 16 100.45.- 16 100.45.-
TRANSPORTATION EXPENSE 1 600.- 1 600.-
MISCELLANEOUS EXPENSE 1 780.- 1 780.-
INTEREST EXPENSE 200.- 200.-
TOTAL 399 848.- 399 848.- 62 290.45.- 91 583.- 337 557.55.- 308 265.-
NET INCOME FOR THE MONTH 29 292.55.- 29 292.55.-
TOTAL 91 583.- 91 583.- 337 557.55.- 337 557.55.-
6. Prepare the three (3) Financial Statements. For Balance Sheet, Use Report form.

Maybunga Employment Service

Income Statement
For the month ended, July 31 2020

REVENUE:
Fees Earned 91 083.-
Interest Income 500.-
LESS EXPENSES:
RENT EXPENSE 5 900.-
PREPAID INSURANCE 6 750.-
ADVERTISING EXPENSE 3 630.-
SALARIES EXPENSE 26 330.-
UTILITIES EXPENSE 16 100.45.-
TRANSPORTATION EXPENSE 1 600.-
MISCELLANEOUS EXPENSE 1 780.-
INTEREST EXPENSE 200.-
Total Expenses: 62 290.45.- 91 583.-
NET INCOME FOR THE MONTH: 29 292.55.-

Maybunga Employment Service

Capital Statement
For the month ended, Aug 31 2020

F. Morales Capital, Aug 1 274 690.-

Add: Net income for the month 29 292.55.-
Less: F. Morales, Drawing 18 000.-
Increase in Capital 11 292.55.-
F. Morales Capital, Aug 31 285 982.55.-

7. Record and Post the Closing Entries

Maybunga Employment Services - Income Summary Account

Maybunga Employment Services - General Journal

DATE
DESCRIPTION P/R DEBIT CREDIT
2020
Aug 31 Fees Earned 91 583.-
Income Summary Account 91 583.-
To close the income account.

31 Income Summary Account 62 290.45.-

RENT EXPENSE 5 900.-
PREPAID INSURANCE 6 750.-
ADVERTISING EXPENSE 3 630.-
SALARIES EXPENSE 26 330.-
UTILITIES EXPENSE 16 100.45.-
TRANSPORTATION EXPENSE 1 600.-
MISCELLANEOUS EXPENSE 1 780.-
INTEREST EXPENSE 200.-
To close all expense account.

31 Income Summary Account 29 292.55.-

C. J. Castro, Capital 29 292.55.-
To close the income summary account.

31 C. J. Castro, Capital 18 000.-

C. J. Castro, Drawing 18 000.-
To close the drawing account
201 166.- 201 166.-

INCOME SUMMARY Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
Aug 31 Closing 62 290.45.- 31 Closing 91 583.-
Closing 29 292.55.-
91 583.- 91 583.-

FEES EARNED Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31 Closing 91 583.- July 7 16 420.-
19 17 460.-
Aug 2 20 302.5.-
3 15 250.-
15 21 650.5.-
30 Interest Income 500.-
91 583.- 91 583.-

SALARIES & WAGES Acct. No. 11

 DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 15 8 750.-
30 8 830.-
Aug 15 8 750.-
17 580.-

RENT EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 27 5 900.- 31 5 900.-

PREPAID INSURANCE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 6 750.- 31 6 750.-

ADVERTISING EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 3 630.- 31 3 630.-

UTILITIES EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 16 100.45.- 31 16 100.45.-

TRANSPORTATION EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 1 600.- 31 1 600.-

MISCELLANEOUS EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 1 780.- 31 1 780.-

INTEREST EXPENSE Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 200.- 31 200.-
 F. MORALES, DRAWING Acct. No. 11
DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 18 000.- 31 18 000.-

F. MORALES, CAPITAL Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31 Closing 18 000.- 1 Investment 274 690.-
31 Balance ✓ 285 982.55.- 31 Closing 29 292.55.-
303 982.55.- 303 982.55.-
2020
Sept 1 Balance ✓ 285 982.55.-

CASH Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance ✓ 142 800.- July 1 1 220.-
5 7 250.- 1 6 400.-
7 16 420.- 2 5 900.-
27 18 640.- 10 10 380.-
Aug 15 21 650.5.- 15 8 750.-
27 20 302.5.- 16 9 150.-
30 67527.05
.- 15 750.- 21 6 810.-
23 3 380.-
30 8 830.-
31 7 500.-
31 6 100.-
Aug 12 25 225.-
15 8 750.-
17 5 350.-
20 9 290.45.-
22 10 500.-
25 5 250.-
29 30 400.5.-
30 6 100.-
31 Balance  ✓ .-
67 527.05

242 813.- 242 813.-

2020
Sept 1 Balance ✓ 67 527.05.-

ACCOUNTS RECEIVABLE Acct. No. 12

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 11 650.- July 5 7 250.-
19 17 460.- 27 18 640.-
Aug 2 3 220
.- 20 302.5.- Aug 27 20 302.5.-
31 Balance ✓ .-
3 220

49 412.5.- 49 412.5.-
2020
Sept 1 Balance ✓ 3 220.-

SUPPLIES Acct. No. 14

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance ✓ 3 590.- July 8 510.-
1 1 220.- Aug 8 125.25.-
7 5 860.- 31 Balance  ✓ 40 560.5
.-
Aug 5 40 560.5
.- 30 525.75.-
41 195.75.- 41 195.75.-
2020
Sept 1 Balance ✓ 40 560.5.-

FURNITURE & FIXTURES Acct. No. 16

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 Balance  ✓ 37 800.-
1 24 400.-
62 200.-

OFFICE EQUIPMENT Acct. No. 15

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 1 95 600.-
Aug 12 50 450.-
146 050.-

ACCOUNTS PAYABLE Acct. No. 21

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 8 510.- July 1 Balance  ✓ 16 750.-
16 9 150.- 7 5 860.-
 Aug 8 125.25.- Aug 5 30 525.75.-
17 5 350.- 12 7 600
.- 25 225.-
25 25 225.-
29 30 400.5.-
31 Balance  ✓ .-
7 600

78 360.75.- 78 360.75.-
2020
Sept 1 Balance  ✓ 7 600.-

NOTES PAYABLE Acct. No. 22

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31 6 000.- July 1 18 000.-
30 6 000.- Aug 25 2 5975
.- 19 975.-
Aug 31 Balance  ✓ .-
25 975

37 975.- 37 975.-
2020
Sept 1 Balance ✓ 25 975.-

F. MORALES, CAPITAL Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 31 Closing 18 000.- 1 Investment 274 690.-
31 Balance ✓ 285 982.55.- 31 Closing 29 292.55.-
303 982.55.- 303 982.55.-
2020
Sept 1 Balance ✓ 285 982.55.-

F. MORALES, DRAWING Acct. No. 11

DATE DATE
ITEMS P/R DEBIT ITEMS PR CREDIT
2020 2020
July 30 18 000.- 31 18 000.-

8. Prepare a Post-Closing Trial Balance.

Maybunga Employment Service

POST-CLOSING TRIAL BALANCE
August 31, 2020

DEBIT CREDIT
Cash 67 527.05.-
Accounts Receivable 3 220.-
 Supplies 40 560.5.-
Furnitures & Fixtures 62 200.-
Office Equipment 146 050.-
Accounts Payable 7 600.-
Notes Payable 25 975.-
F. Morales, Capital 285 982.55.-
319 557.55.- 319 557.55.-

Criteria:
Accuracy/Correctness 50 points
Format/Organization 30 points
Neatness 20 points

General Journal 50 points

General Ledgers 25 points
Trial Balance & Worksheet 10 points
Financial Statements 15 points

Good Luck and Submit on agreed date.