Instruction: Prepare a Balance Sheet in an account form for Bhel's Beauty Parlor for the Year Ended December 31, 2019. P 12,000 750 900 Cash on Hand Prepaid Rent Salary Payable Furniture and Fixtures Allowance for Bad Debts Accounts Payable Bhel, Capital Prepaid Insurance Accumulated Depreciation Bhel, Drawing Unused Office Supplies Accounts Receivable Net Income 38,400 600 27,000 30,000 450 3,840 1,200 1,500 60,300 52,260 Instruction: Prepare the Income Statement and the Balance Sheet for Castro Allied Services for the quarter ended December 31, 2019. P 43,900 3,000 6,500 30,000 750 2,000 1,800 3,600 7,200 30,000 12,000 6,000 500 750 200 600 15,000 2,900 2,000 Castro, Capital Cash on Hand Accounts Receivable Equipment Accumulated Depreciation Taxes and Licenses Utilities Expenses Castro, Drawing Accounts Payable Service Income Rent Expense Notes Receivable Allowance for Doubtful Account Depreciation Expense Bad Debts Expense Repair Expense Salaries Expense Supplies Expense Notes Payable

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instruction: Prepare a Balance Sheet in an account form for Bhel's Beauty Parlor for the Year Ended
December 31, 2019.
P 12,000
Cash on Hand
Prepaid Rent
Salary Payable
Furniture and Fixtures
Allowance for Bad Debts
Accounts Payable
Bhel, Capital
Prepaid Insurance
Accumulated Depreciation
Bhel, Drawing
Unused Office Supplies
Accounts Receivable
750
900
38,400
600
27,000
30,000
450
3,840
1,200
1,500
60,300
52,260
Net Income
Instruction: Prepare the Income Statement and the Balance Sheet for Castro Allied Services for the quarter
ended December 31, 2019.
Castro, Capital
Cash on Hand
Accounts Receivable
Equipment
Accumulated Depreciation
Taxes and Licenses
Utilities Expenses
Castro, Drawing
Accounts Payable
Service Income
Rent Expense
Notes Receivable
P 43,900
3,000
6,500
30,000
750
2,000
1,800
3,600
7,200
30,000
12,000
6,000
500
Allowance for Doubtful Account
Depreciation Expense
Bad Debts Expense
Repair Expense
Salaries Expense
Supplies Expense
Notes Payable
750
200
600
15,000
2,900
2,000
Transcribed Image Text:Instruction: Prepare a Balance Sheet in an account form for Bhel's Beauty Parlor for the Year Ended December 31, 2019. P 12,000 Cash on Hand Prepaid Rent Salary Payable Furniture and Fixtures Allowance for Bad Debts Accounts Payable Bhel, Capital Prepaid Insurance Accumulated Depreciation Bhel, Drawing Unused Office Supplies Accounts Receivable 750 900 38,400 600 27,000 30,000 450 3,840 1,200 1,500 60,300 52,260 Net Income Instruction: Prepare the Income Statement and the Balance Sheet for Castro Allied Services for the quarter ended December 31, 2019. Castro, Capital Cash on Hand Accounts Receivable Equipment Accumulated Depreciation Taxes and Licenses Utilities Expenses Castro, Drawing Accounts Payable Service Income Rent Expense Notes Receivable P 43,900 3,000 6,500 30,000 750 2,000 1,800 3,600 7,200 30,000 12,000 6,000 500 Allowance for Doubtful Account Depreciation Expense Bad Debts Expense Repair Expense Salaries Expense Supplies Expense Notes Payable 750 200 600 15,000 2,900 2,000
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