Mace Windu Auto Repair Works

Trial Balance
November 30, 2017

Cash P 68,000
Accounts Receivable 20,000
Prepaid Rent 12,000
Supplies 4,500
Service Vehicle 125,000
Accumulated Depreciation – Service Vehicle 625
Accounts Payable 5,460.41
Capital 223,414.59

The December transactions were as follows:

Dec. 1 Received cash for services rendered, P 28,200
Dec. 3 Invested additional equipment, P 37,000
Performed services on account to Mr.Yoda, P 18,765.55
Dec. 9 Purchased shop supplies from Ms. Leiah on account, P 12,900
Dec.15 Paid electricity bill for the month, P7,839.55
Paid half of the amount owed to Ms. Leiah
Dec.20 Received P 10,000 from Mr. Yoda
Received cash for services rendered, P 15,698.35
Dec 26 Paid salaries of employees, P 18,900
Dec.27 Received the remaining balance owed by Mr. Yoda
Dec.28 Mr Windu withdrew cash for personal use, P10,000
Dec. 30 Paid the remaining balance to Ms. Leiah.

Adjustments:
a. Prepaid Rent was good for three months and was paid on October 1, 2017
b. Salaries incurred but not yet paid as of December 31 amount to P 6,300
c. Supplies on hand amount to P 6,790
d. Salvage value of service vehicle is P 50,000, with estimated useful life of 10 years
Requirement: Prepare the complete financial statement of Mace Windu Merchandising