The Trial Balance of Ma.

Mercedes Repair Service on July 31, 2013 is shown hereunder:

MA.MERCEDES REPAIR SERVICE
Trial Balance
July 31, 2013

The August 2013 transactions were as follows:
August 5 Received P900 cash from customers on account.
10 Billed customers for services performed, P6,300.
16 Paid employee salaries, P1,450.
20 Paid P2,000 to creditors on account.
21 Received P250 for services rendered on a cash basis.
26 Purchased supplies on account at a cost of P400.
29 Withdrew P600 for personal use.
30 Paid utilities P900.

Additional Information:

Provision should be made for the following additional accounts: No.306 Ma.Mercedes, Drawings, No.426 Service
Revenue, No.726 Salaries Expense, and No.732 Utilities Expense.

INSTRUCTIONS: Using the sheets provided, submit the following:

1. Chart of Accounts
2. August Journal Entries
3. General Ledger postings for the month
4. Trial Balance
5. Income Statement
6. Statement of Changes in Owners Equity
7. Balance Sheet
8. Cash Flow Statement
9. Closing Entries
10. Post-closing Trial Balance








Account No. Debit Credit
101 Cash P 9,000
112 Accounts Recevable 2,430
126 Supplies 1,950
157 Equipment 9,600
201 Accounts Payable P5,250
206 Unearned Revenue 910
301 Ma.Mercedes, Capital 16,820
P22,980 P22,980




































































































































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