Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank P 1,020,000 Petty Cash Fund 1,000 Accounts Receivable 120,000 Est. Uncollectible Account P 1,200 Unused Supplies 15,000 Prepaid Insurance 8,500 Prepaid Rent 30,000 Delivery Truck 1,500,000 Acc. Depreciation – Delivery Truck 250,000 Accounts Payable 130,000 P. Cagejas, Capital 1,818,500 P. Cagejas, Drawings 50,000 Trucking Income 935,000 Taxes and Licences 10,000 Repairs and Maintenance 27,000 Retainer Fees 25,000 Salaries and Wages 320,000 Utilities Expense 8,200 Total P 3,134,700 P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account. 2. Supplies actually on hand, P5,000. 3. Of the Prepaid Insurance, P6,200 has actually expired. 4. P18,000 of the Prepaid Rental has expired. 5. Depreciation Expense for the period is P105,000. Required: a. An 8-column worksheet b. Balance Sheet c. Income Statement d. Statement of Changes in Owner’s Equity
Cajegas Trucking Services
Trial Balance
June 30, 2021
Debit Credit
Cash in Bank P 1,020,000
Petty Cash Fund 1,000
Accounts Receivable 120,000
Est. Uncollectible Account P 1,200
Unused Supplies 15,000
Prepaid Insurance 8,500
Prepaid Rent 30,000
Delivery Truck 1,500,000
Acc.
Accounts Payable 130,000
P. Cagejas, Capital 1,818,500
P. Cagejas, Drawings 50,000
Trucking Income 935,000
Taxes and Licences 10,000
Repairs and Maintenance 27,000
Retainer Fees 25,000
Salaries and Wages 320,000
Utilities Expense 8,200
Total P 3,134,700 P 3,134,700
Additional Information
1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account.
2. Supplies actually on hand, P5,000.
3. Of the Prepaid Insurance, P6,200 has actually expired.
4. P18,000 of the Prepaid Rental has expired.
5. Depreciation Expense for the period is P105,000.
Required:
a. An 8-column worksheet
b. Balance Sheet
c. Income Statement
d. Statement of Changes in Owner’s Equity
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