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PREPARATION OF FINANCIAL STATEMENTS. On your worksheet, prepare the following financial statements for
JUN DAZA SERVICES for the period ending Dec 31, 2013. Use the letter guides in grouping the accounts together:
a. Statement of Financial Position - A
b. Income Statement - B
c. Statement of Changes in Equity - C
d. Statement of Cash Flows - D
e. Notes to Financial Statements E, F, G, H



Additional information on cash transactions of the company during the year were as follows:

The beginning balance of cash account is P10,000.
Accounts Payable H P67,900
Accounts Receivable E 350,200
Accrued Interest Expense H 25,000
Accumulated Depreciation - Building G 1,250,000
Accumulated Depreciation - Office Equipment G 120,000
Allowance for Bad Debts E 25,200
Bad Debts Expense B 2,600
Notes Payable - long term A 100,000
Building G 2,500,000
Cash A 54,000
Depreciation Expense B 15,000
Insurance Expense B 6,800
Interest Income B 3,080
Interest Receivable E 4,100
Investment in trading securities A 35,000
J. DAZA, Capital, beginning C 450,000
J. DAZA, Drawing C 55,000
Miscellaneous Expense B 8,900
Mortgage Payable A 900,000
Notes Payable - short term H 25,000
Notes Receivable E 120,000
Office Equipment G 540,000
Office Supplies F 34,000
Prepaid Advertising F 25,000
Prepaid Insurance F 12,000
Salaries and Wages Expense B 56,300
Salaries Payable H 15,600
Service Income B 680,500
Supplies Expense B 25,800
Unearned Service Income H 75,300
Utitlities Expense B 10,100
Withholding Taxes Payable H 77,220
Additional cash investment by the owner C&D 40,000
Cash receipts from customers for services rendered D 540,000
Payment of operating expenses D (437,800)
Proceeds from Mortgage payable with BDO D 900,000
Acquisition of new equipments to be used in the business D (850,000)
Sale of old equipments D 45,000
Payment of interest expense on Mortage Payable D (17,200)
Dividends on stock investments D 5,000
Payment of salaries of employees D (49,400)
Payment of Principal of Notes Payable (short term) D (131,600)