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Monday, December 31, 2018 Account Debit Credit 186, 000.00 71, 200.00 12, 000.00 177, 500.00 Cash Accounts Recievable Prepaid rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Mr. M, Capital Mr. M, Drawing 12,625.00 18,000.00 12,000.00 300,000.00 19, 000.00 Professional Fees 276,300.00 Salaries Expense 96, 100.00 12, 000.00 37, 800.00 7, 200.00 7, 125.00 Supplies Expense Utilities Expense Rent Expense Depreciation Expense Salaries Payable Interest Expense Interest Payable Bad Debts Expense 12,000.00 80.00 80.00 3, 560.00 Allowance for Bad Debts 3,560.00 Supplies Inventory 5, 000.00 634, 565.00 ТОTAL 634,565.00

Monday, December 31, 2018 Account Debit Credit 186, 000.00 71, 200.00 12, 000.00 177, 500.00 Cash Accounts Recievable Prepaid rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Mr. M, Capital Mr. M, Drawing 12,625.00 18,000.00 12,000.00 300,000.00 19, 000.00 Professional Fees 276,300.00 Salaries Expense 96, 100.00 12, 000.00 37, 800.00 7, 200.00 7, 125.00 Supplies Expense Utilities Expense Rent Expense Depreciation Expense Salaries Payable Interest Expense Interest Payable Bad Debts Expense 12,000.00 80.00 80.00 3, 560.00 Allowance for Bad Debts 3,560.00 Supplies Inventory 5, 000.00 634, 565.00 ТОTAL 634,565.00

FINANCIAL ACCOUNTING
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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prepare a Statement of Comprehensive Income and Statement of Financial Position
(PERFORMANCE TASKS): Statement of Comprehensive Income LESSON 1 Statement of Comprehensive Income The Trial Balance of Paasa Interiors Company is shown below. Prepare the SCI for Service Business (Single Step Format) and SFP (Report Form) All currency is in Philippine Pesos Paasa Interiors Company Trial Balance Monday, December 31, 2018 Account Debit Credit Cash 186, 000.00 Accounts Recievable 71, 200.00 12, 000.00 Prepaid rent Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable Mr. M, Capital Mr. M, Drawing 177, 500.00 12,625.00 18,000.00 12,000.00 300,000.00 19, 000.00 Professional Fees 276,300.00 96, 100.00 12, 000.00 37, 800.00 7, 200.00 7, 125.00 Salaries Expense Supplies Expense Utilities Expense Rent Expense Depreciation Expense Salaries Payable Interest Expense Interest Payable 12,000.00 80.00 80.00 Bad Debts Expense 3, 560.00 Allowance for Bad Debts 3,560.00 Supplies Inventory TOTAL 5, 000.00 634, 565.00 634,565.00 1|Page
Transcribed Image Text:(PERFORMANCE TASKS): Statement of Comprehensive Income LESSON 1 Statement of Comprehensive Income The Trial Balance of Paasa Interiors Company is shown below. Prepare the SCI for Service Business (Single Step Format) and SFP (Report Form) All currency is in Philippine Pesos Paasa Interiors Company Trial Balance Monday, December 31, 2018 Account Debit Credit Cash 186, 000.00 Accounts Recievable 71, 200.00 12, 000.00 Prepaid rent Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable Mr. M, Capital Mr. M, Drawing 177, 500.00 12,625.00 18,000.00 12,000.00 300,000.00 19, 000.00 Professional Fees 276,300.00 96, 100.00 12, 000.00 37, 800.00 7, 200.00 7, 125.00 Salaries Expense Supplies Expense Utilities Expense Rent Expense Depreciation Expense Salaries Payable Interest Expense Interest Payable 12,000.00 80.00 80.00 Bad Debts Expense 3, 560.00 Allowance for Bad Debts 3,560.00 Supplies Inventory TOTAL 5, 000.00 634, 565.00 634,565.00 1|Page
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