Prepare Income Statement, Statement of Changes in Equity and Balance Sheet for LAM Tailoring Shop.

Journalize and post the adjustments as well.

LAM Tailoring Shop

Worksheet
For the Month Ended April 30, 2024
No. Account Title Unadjusted Trial Balance Adjustments Adjusted Trial Balance Balance Sheet Income Statement
110 Cash ₱ 741,700 ₱ 741,700 ₱ 741,700
120 Accounts Receivables 15,000 15,000 15,000
125 Supplies 30,000 ₱ 11,000 19,000 19,000
130 Prepaid Rent 12,000 6,000 6,000 6,000
140 Machinery 83,000 83,000 83,000
145 Accumulated Depreciation-M 6,000 ₱ 6,000 ₱ 6,000
150 Equipment 32,000 32,000 32,000
155 Accumulated Depreciation-E 2,500 2,500 2,500
210 Accounts Payables ₱ 15,000 15,000 15,000
220 Notes Payable 83,000 83,000 83,000
230 Utilities Payable 1,500 1,500 1,500
240 Salaries Payable 22,000 22,000 22,000
310 Lerly, Capital 750,000 750,000 750,000
320 Lerly, Withdrawals 5,000 5,000 5,000
330 Income Summary
410 Service Revenue 73,450 73,450 ₱ 73,450
510 Utilities Expense 4,250 4,250 ₱ 4,250
520 Salaries Expense ₱ 22,000 22,000 22,000
530 Supplies Expense 11,000 11,000 11,000
540 Depreciation Expense-M 6,000 6,000 6,000
550 Depreciation Expense-E 2,500 2,500 2,500
560 Rent Expense 6,000 6,000 6,000
₱ 922,950 ₱ 922,950 ₱ 47,500 ₱ 47,500 ₱ 953,450 ₱ 953,450 ₱ 901,700 ₱ 880,000 ₱ 51,750 ₱ 73,450
₱ 21,700 ₱ 21,700
₱ 901,700 ₱ 73,450