FINANCIAL ACCOUNTING AND REPORTING

Assignment No.2
Instructor: Engr. Danilo f. Sindac, Jr.

Direction: Prepare a Trial Balance and a Balance Sheet for the given Company Account Transaction. Use an Accounting Standard Format Only.

ARCHIPELAGO WATER PRODUCTS AND COMPANY INCORPORATED

ACCOUNT TRANSACTIONS
  March 1- 31, 2020

Account Titles Amount

Office Supplies 13 700.00
Accounts Receivable 150 000.00
Accounts Payable 403 700.00
Archipelago Capital 4 100 000.00
Archipelago Withdrawal 80 900.00
Cash 5 460 000.00
Service Vehicle 1 950 000.00
Notes Payable for 5 years 3 200 000.00
Computer Equipment 150 000.00
Service Revenues 500 900.00
Utility Expense 15 000.00
Rent Expense 55 000.00
Salaries Expense 330 000.00

ARCHIPELAGO WATER PRODUCTS AND COMPANY INCORPORATED

Statement of Changes in Equity
For the Month Ended March 31, 2020
 DFS, Capital, March 1, 2020 4 100 000.00
Add:                          Additional 40 000.00
Investment 60 900.00
                                  Profit 4 200 900.00
Total
80 900.00
Less:                         Withdrawal
DFS, Capital, March 31, 2020 4 120 000.00

Account Titles Debit Credit

Office Supplies 13 700.00
Accounts Receivable 150 000.00
Accounts Payable 403 700.00
Archipelago Capital 4 100 000.00
Archipelago Withdrawal 80 900.00
Cash 5 460 000.00
Service Vehicle 1 950 000.00
Notes Payable for 5 years 3 200 000.00
Computer Equipment 150 000.00
Service Revenues 500 900.00
Utility Expense 15 000.00
Rent Expense 55 000.00
Salaries Expense 330 000.00
Total 8 204 600.00 8 204 600.00