Solution to Froilan Labausa Catering Services Cash

a) 165,000
a) Cash 165,000
Labausa, Capital 165,000 e) 24,200
K)25200
b) Service Vehicle 194,900
Cash 25,000
Accounts Payable 169,900
214,400
c) Equipment 28,500 144,660
Accounts Payable 28,500

d) Rent Expense 6,200

Cash 6,200

e) Cash 24,200
Service Revenue 24,200

f) Supplies 1,800
Cash 1,800

g) Prepaid Insurance 4,000

Cash 4,000

h) Utilities Expense 6,040

cash 6,040

i) Gas and Oil Expense 6,080

Accounts Payable 6,080 Sample Ledger

j) Accounts Receivable 28,240

Service Revenue 28,240 Date
1-Jan
K) Cash 25,200 2-Apr
Service Revenue 25,200 Feb-14
Feb-26
l) Salaries Expense 11,200
Cash 11,200

m) Labausa, Withdrawal 15,500

Cash 15,500

Labausa Catering Services Labausa Catering Services

Trial Balance Income Statement
March 31,2020 For month ended March 30,20

Debit Credit Catering/Service Revenue

 add: Other Income
Gross Income
Cash P 144,660 Less: Expenses
Accounts Receivables 28,240 Rent Expense
Prepaid Insurance 4,000 Salaries Expense
Supplies 1,800 Gas and Oil Expense
Equipment 28,500 Utilities Expense
Service Vehicle 194,900 Net Income
Accounts Payable 204,480
Labausa, Withdrawals 15,500 Labausa Catering Services
Labausa Capital 165,000 Statement Changes in Equi
Catering/Service Revenue 77,640 For month ended March 30,20
Rent Expense 6,200
Salaries Expense 11,200 Labausa Capital, beg. Balance P
Gas and Oil Expense 6,080 add: additional inestment
Utilities Expense 6,040 Net income
Total P 447,120 447,120 Total
Less: Withdrawals
Labausa Capital, ending Balance P
 Cash Accounts Receivable Prepaid Insurance
j)28240 g)4000
b) 25,000
d) 6,200
F)1800
g)4000
H)6040
l)11200 Equipment Service Vehicle
m)15500 c) 28,500 b) 194,900
69,740

Labausa, Capital Labausa, Withdrawals

a) 165,000 M) 15500

Rent Expense Utilities Expense

d) 6,200 H)6040

Salaries Expense
l)11, 200

John Lester Baided

Particular Debit Credit Balance

investment of the owner 165,000 165,000
downpayment for the vehicle 25,000 140,000
payment of rent 6,200 133,800
service revenue 24,200 158,000

Labausa Catering Services Labausa Catering Services

Income Statement Satatement of Financial Position
For month ended March 30,2020 For month ended March 30,2020

ervice Revenue 77,640 ASSETS

 -
77,640 Current Assets
Cash 144,660
6,200 Accounts Receivables 28,240
11,200 Prepaid Insurance 4,000
6,080 Supplies 1,800
6,040 29,520 Total Current Assets 178,700
P 48,120
Non Current Assets
Labausa Catering Services Equipment 28,500
Statement Changes in Equity Service Vehicle 194,900
For month ended March 30,2020 Total non current assets 223,400

apital, beg. Balance P 165,000 Total assets P 402,100

onal inestment -
48,120 LIABILITIES AND EQUITY
213,120
15,500 Current liability
apital, ending Balance P 197,620 Accounts Payable P 204,480

Labausa Capital, end. Balance 197,620

Total liability and equity P 402,100

 Supplies
f)1800

Accounts Payable
b) 169,900
c) 28,500
i)6 080
204,480
Service Revenue
e) 24,200
J)28240
K)25200
77, 640

Gas and Oil

i) 6080