McDollibee Trial Balance June 30, 2019 Accounts Titles Debit Credit Cash P 8,750 Accounts receivable 2,320...

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McDollibee Trial Balance June 30, 2019 Accounts Titles Debit Credit Cash P 8,750 Accounts receivable 2,320 Supplies 1,900 Equipment 9,000 Accounts payable P 5,500 Unearned revenue 800 Amy Cummin, Capital 15,670 P 21,970 P 21,970 The following transactions occurred during the month of July 2019: Jul. 5 Collected P 850 in outstanding receivables from an account customer. 10 Rendered laundry services to Mr. Dee on account, P 6,300 15 Paid salaries of employees for the period covering Jul. 1-15, P 1,400. 16 P 600 of the unearned revenue were earned. 20 Paid P 2,000 of outstanding payables to suppliers. 21 Rendered laundry services for cash, P 250. 26 Purchased supplies on account, P 350. 29 Withdrew cash from the business for personal use, P 600. 30 paid salaries of employees for the period covering Jul. 16-31, P 1,400. 31 Received and paid utility bills, P 900. REQUIRED: From the given information, perform the following: 1. Post the beginning balances as per trial balance to the general ledger. 2. Journalize the transactions for the current month. 3. Prepare the trial balance as of July 31, 2019. 4. Prepare the following financial statements: a. Income Statement for the month ended July 31. b. Statement of Changes in Equity for the month ended July 31. c. Balance Sheet as of July 31. d. Statement of Cash Flows for the month ended July 31 (Direct method). McDollibee Trial Balance June 30, 2019 Accounts Titles Debit Credit Cash P 8,750 Accounts receivable 2,320 Supplies 1,900 Equipment 9,000 Accounts payable P 5,500 Unearned revenue 800 Amy Cummin, Capital 15,670 P 21,970 P 21,970 The following transactions occurred during the month of July 2019: Jul. 5 Collected P 850 in outstanding receivables from an account customer. 10 Rendered laundry services to Mr. Dee on account, P 6,300 15 Paid salaries of employees for the period covering Jul. 1-15, P 1,400. 16 P 600 of the unearned revenue were earned. 20 Paid P 2,000 of outstanding payables to suppliers. 21 Rendered laundry services for cash, P 250. 26 Purchased supplies on account, P 350. 29 Withdrew cash from the business for personal use, P 600. 30 paid salaries of employees for the period covering Jul. 16-31, P 1,400. 31 Received and paid utility bills, P 900. REQUIRED: From the given information, perform the following: 1. Post the beginning balances as per trial balance to the general ledger. 2. Journalize the transactions for the current month. 3. Prepare the trial balance as of July 31, 2019. 4. Prepare the following financial statements: a. Income Statement for the month ended July 31. b. Statement of Changes in Equity for the month ended July 31. c. Balance Sheet as of July 31. d. Statement of Cash Flows for the month ended July 31 (Direct method).

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