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  • Worksheet-Income Statement & Balance Sheet

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    Park Eunbi
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    Mercado Photocopying Center generated PHP 14,200 in photocopying revenue for July 2019 with PHP 9,850 in expenses, resulting in a net income of PHP 4,150. Assets included PHP 18,500 in cash, PHP 30,000 in photocopying equipment, and PHP 10,000 in capital. Liabilities included PHP 2,500 in accounts payable and PHP 50,000 in loans payable.

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    WORKSHEET-INCOME STATEMENT & BALANCE SHEET

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    Mercado Photocopying Center generated PHP 14,200 in photocopying revenue for July 2019 with PHP 9,850 in expenses, resulting in a net income of PHP 4,150. Assets included PHP 18,500 in cash, PHP 30,000 in photocopying equipment, and PHP 10,000 in capital. Liabilities included PHP 2,500 in accounts payable and PHP 50,000 in loans payable.

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    © All Rights Reserved
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    46 views1 page

    Worksheet-Income Statement & Balance Sheet

    Uploaded by

    Park Eunbi
    Mercado Photocopying Center generated PHP 14,200 in photocopying revenue for July 2019 with PHP 9,850 in expenses, resulting in a net income of PHP 4,150. Assets included PHP 18,500 in cash, PHP 30,000 in photocopying equipment, and PHP 10,000 in capital. Liabilities included PHP 2,500 in accounts payable and PHP 50,000 in loans payable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    Pauline Anne R.

    Grana
    11-ABM-A

    Mercado Photocopying Center


    Worksheet
    For the month ended July 31, 2019
    Accounts Income Statement Balance Sheet
    Dr Cr Dr Cr
    Cash 18,500
    Unused Supplies 3,000
    Photocopying Equipment 30,000
    Accounts Payable 2,500
    Loan Payable 50,000
    Mercado, Capital 10,000
    Mercado, Drawings 500
    Photocopying revenue 14,200
    Salaries Expense 2,000
    Utilities Expense 2,500
    Rent Expense 5,000
    Totals:
    Adjustments:
    Accounts receivable 1,200
    Unearned Income 3,000
    Salaries Payable 1,000
    Interest Expense 50
    Interest Payable 50
    Depreciation Expense 500
    Accumulated Depreciation 500
    Prepaid Rent 5,000
    Prepaid Supplies 7,000
    Totals: 10050 14,200 68,200 64050
    4,150 4,150
    14,200 14,200 68,200 68,200

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