A.

UY Laundry House
Post-Closing Trial Balance
For the month ended November 30, 2014

Account No. Account Title Debit Credit

100 Cash 18,750.00
110 Accounts Receivable 12,320.00
120 Supplies 11,900.00
130 Equipment 19,000.00
200 Accounts Payable 15,500.00
210 Unearned Revenue 800.00
300 A. Uy, Capital 45,670.00
61,970.00 61,970.00

On December 1, 2014, A. Uy is engaged a laundry business. During the month of December, the
following transactions occurred:

Dec. 3 Performed services P600 to customer already paid in advance.

5 Billed the customer for the service performed, P6,300.
6 Paid salaries to employee, P1,400.
7 Paid utilities P900 for DANECO.
15 Paid creditors on account P2,000.
18 Purchased Office Supplies on account, P350.
23 Rendered service in cash to customer P250.
25 A. Uy withdrew P600 for personal use.
30 Received Cash, P850 from the customer on account.

Requirements: Prepare the following

a) Chart of Account
b) Journalize transaction
c) Post transaction
d) Prepare Trial Balance
e) Prepare Financial Statements
i. Income Statement
ii. Statement of Changes in Owner’s Equity
iii. Balance Sheet
iv. Statement of Cash Flow
f) Closing Entries
g) Post-Closing Trial Balance
UY Hardware compiled the following merchandising transaction in the month of August 2014 at the
beginning of August, the ledger of Angelie showed cash of P6,000

Aug 1 Purchase merchandise on account from Citi Hardware P8,000 term n/30.

Aug2 Sold merchandise on account to Digos City Hardware, term n/30. P12,500.

Aug5 Received credit from Citi Hardware for the merchandise return P1,500.

Aug7 Paid P500 freight on April 2 transaction.

Aug11 Purchase supplies for cash P1,750

Aug12 Purchase merchandise for cash P5,600.

Aug16 Received refund for poor quality merchandise for cash P850.

Aug17 Purchase merchandise from RONZ Distribution P3,700 term n/30.

Aug18 Paid freight on April 17 transaction, P920.

Aug24 Sold merchandise in cash P5,900.

Aug25 Purchase merchandise from SMART INC., P7,500 n/30.

Aug26 Received collection in full from customer billed Apr 2.

Aug29 Made refund to cash customer for defective merchandise P1,200.

Aug30 Paid Citi Hardware in full.

Aug31 Sold merchandise on account, P4,500 FOB Hawk’s store, terms n/30.

Requirements: Prepare journal entries