On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City. The name of the business was Termas Carwash. During the first month of operation, the business showed the following account balances as results of business operations for the whole month as follows: Cash Accounts Receivable 82000 16000 4500 68000 Carwash Supplies Carwash Equipment Carwash Facility Accounts Payable Termas, Capital Termas, Drawing Carwash Service Income Wages Expense Utilities Expense 120000 1550 269310 50000 105000 31460 1200 Taxes and Licenses 750 Other Expenses Supplies Expense 450 1500 You are to prepare a trial balance, income statement and balance sheet for Philip John Termas on April 30, 2017 using the data above.
On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City. The name of the business was Termas Carwash. During the first month of operation, the business showed the following account balances as results of business operations for the whole month as follows: Cash Accounts Receivable 82000 16000 4500 68000 Carwash Supplies Carwash Equipment Carwash Facility Accounts Payable Termas, Capital Termas, Drawing Carwash Service Income Wages Expense Utilities Expense 120000 1550 269310 50000 105000 31460 1200 Taxes and Licenses 750 Other Expenses Supplies Expense 450 1500 You are to prepare a trial balance, income statement and balance sheet for Philip John Termas on April 30, 2017 using the data above.
Chapter7: Accounting Information Systems
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Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....
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![On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City.
The name of the business was Termas Carwash. During the first month of
operation, the business showed the following account balances as results of
business operations for the whole month as follows:
Cash
Accounts Receivable
82000
16000
Carwash Supplies
Carwash Equipment
Carwash Facility
Accounts Payable
Termas, Capital
Termas, Drawing
Carwash Service Income
4500
68000
120000
1550
269310
50000
105000
Wages Expense
Utilities Expense
31460
1200
Taxes and Licenses
750
Other Expenses
Supplies Expense
450
1500
You are to prepare a trial balance, income statement and balance sheet
for Philip John Termas on April 30, 2017 using the data above.
Particulars
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1669820f-2ed5-46d2-8890-563e91b29756%2F56f03f2d-b36f-4f29-a0d0-fb555883026e%2F0axgdav_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On April 1, 2017 Philip John Termas opened a carwash business in Dapitan City.
The name of the business was Termas Carwash. During the first month of
operation, the business showed the following account balances as results of
business operations for the whole month as follows:
Cash
Accounts Receivable
82000
16000
Carwash Supplies
Carwash Equipment
Carwash Facility
Accounts Payable
Termas, Capital
Termas, Drawing
Carwash Service Income
4500
68000
120000
1550
269310
50000
105000
Wages Expense
Utilities Expense
31460
1200
Taxes and Licenses
750
Other Expenses
Supplies Expense
450
1500
You are to prepare a trial balance, income statement and balance sheet
for Philip John Termas on April 30, 2017 using the data above.
Particulars
Debit
Credit
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