Voltaire Arzadon has started his own business, Property Appraisals.

He inspects property for

buyers and sellers of real estate. Voltaire rents office space and has a part-time assistant to
answer the phone and to help with inspections. The transactions for the month of September
are as follows:

September Transactions Assets Liabilities Owner's Equity

Arzadon invested cash by making a

1 deposit in a bank account for the
business P150,000 (+Cash) (+Capital)
2 Paid rent for the month, P3,000 (-Cash) (-Expenses)
5 Bought a second-hand service vehicle (+Service Vehicle)
for cash, P80,000 (-Cash)
Bought service tools on account,
7
P30,000
15 Paid electricity bill, P500
Paid one-year insurance premium on
16
the service vehicle, P6,000
Received cash from clients for service
18
performed, P20,000
Paid salaries to assistant for first half
20
of the month, P2,000
Performed appraisal services for
23
clients on account, P10,000
24 Paid water bill, P350
Bought office supplies for cash,
25
P1,000
Received from clients for inspections
26
performed on account in (23), P3,000
Paid salaries of the assistant for the
27
last half of the month, P2,500
Made partial payment on service
28
tools brought in (7), P10,000
Additional revenues earned
29 amounted of P20,000: P14,000 for
cash and P6,000 on account
Arzadon withdrew cash for personal
30
expenses, P5,000
Required:
1.Establish the following accounts.
Cash Accounts Payable
Accounts Receivable Arzadon, Capital
Office Supplies Arzadon, Withdrawal
Prepaid Insurance Revenues
Service Tools Expenses
Service Vehicle

2.Compute the ending balances for all accounts.