Prepare journal entries, posting and trial balance for the following transactions.

Winnie Villanueva is a painting contractor. During the month of April, she completed the
following transactions:

Apr. 2 Invested in the business painting equipment valued at P12,300 and placed P71,000
in a business checking account.

Apr. 3 Acquired a service vehicle costing P80,000. Paid P50,000 cash and signed a note
for the balance.

Apr. 4 Purchased painting supplies on account for P3,200.

Apr. 5 Completed a painting job and billed the customer P4,800.

Apr. 7 P1,500 cash for painting an apartment room.

Apr. 10 Purchased painting supplies P1,600 cash.

Apr. 11 Received a P4,800 check from the customer billed on April 5.

Apr. 12 Paid P4,000 for an insurance policy for one-year coverage.

Apr. 13 Billed a customer P6,200 for a painting job.

Apr. 14 Paid the assistant P1,500 for twenty-five hours' work

Apr. 15 Paid P400 for a tune-up of the service vehicle.

Apr. 18 Paid for the painting supplies purchased on April 4.

Apr. 20 Purchased a new ladder for P6,000 and painting supplies for P2,900, on account.

Apr. 22 Received a telephone bill for P600, due next month.

Apr. 23 Received P3,300 in cash from the customer billed on April 13.

Apr. 24 Transferred P3,000 to a personal checking account.

Apr. 25 Received P3,600 in cash for painting a two-room apartment.

Apr. 27 Paid P2,000 on the note signed for the service vehicle.

Apr. 29 Paid the assistant P1,800 for thirty hours' work.

 Debit Credit

Apr
2 Painting Equipment 1 2 3 0 0
Cash 7 1 0 0 0
Villanueva, Capital 8 3 3 0 0
Initial investment to the business

3 Service Vehicle 8 0 0 0 0
Cash 5 0 0 0 0
Notes Payable 3 0 0 0 0
Acquired service vehicle with partial payment

4 Painting Supplies 3 2 0 0
Accounts Payable 3 2 0 0
Purchased painting supplies on account

5 Accounts Receivable 4 8 0 0
Painting Revenues 4 8 0 0
Rendered service on account

7 Cash 1 5 0 0
Painting Revenues 1 5 0 0
Rendered Services

10 Painting Supplies 1 6 0 0
Cash 1 6 0 0
Purchased painting supplies in cash

11 Cash 4 8 0 0
Accounts Receivable 4 8 0 0
Payment received from customer

12 Prepaid Insurance 4 0 0 0
Cash 4 0 0 0
To recognized payment for insurance policy
for one-year coverage

13 Accounts Receivable 6 2 0 0
Painting Revenues 6 2 0 0
Rendered serviced on account

14 Wages Expense 1 5 0 0
 Cash 1 5 0 0
Paid Salaries

15 Maintenance Expense 4 0 0
Cash 4 0 0
Paid cash for the maintenance service

18 Accounts Payable 3 2 0 0
Cash
To record the cash paid for painting supplies 3 2 0 0

20 Painting Equipment 6 0 0 0
Painting Supplies 2 9 0 0
Accounts Payable 8 9 0 0
Purchased of equipment and supplies on
account

22 Utilities Expense 6 0 0
Accounts Payable 6 0 0
To record utilities payable

23 Cash 3 3 0 0
Accounts Receivable 3 3 0 0
Payment received from customer

24 Villanueva, Withdrawals 3 0 0 0
Cash 3 0 0 0
Drawing made by the owner

25 Cash 3 6 0 0
Painting Revenues 3 6 0 0
Received cash for service rendered

27 Notes Payable 2 0 0 0
Cash 2 0 0 0
To record the payment of signed note
for service vehicle

29 Wages Expense 1 8 0 0
Cash 1 8 0 0
Paid salaries
Illustrations: The ledger accounts of Winnie Villanueva, a painting contractor.
after posting it show below. The accounts numbers and journal reference columns
are purposely omitted. The balance of each account has been determined.

Cash Notes Payable

Apr. 2 71,000 Apr. 3 50,000 Apr. 27 2,000
7 1,500 10 1,600
11 4,800 12 4,000
23 3,300 14 1,500 Accounts Payable
25 3,600 15 400 Apr. 18 3,200
18 3,200
24 3,000
27 2,000
29 1,800
84,200 67,500
Bal. 16,700 Supplies
Apr. 4 3,200
Accounts Receivable 10 1,600
Apr. 5 4,800 Apr. 11 4,800 20 2,900
13 6,200 23 3,300 7,700
11,000 8,100 Bal. 7,700
Bal. 2,900

Villanueva, Capital
Equipment
Apr. 2 12,300
20 6,000
18,300 Utilities Expense
Bal. 18,300 Apr. 22 600
Bal. 600
Revenue
Apr. 5 4,800 Maintenance Expense
7 1,500 Apr. 15 400
13 6,200 Bal. 400
25 3,600
Bal. 16,100

Wages Expense Prepaid Insurance

Apr. 14 1,500 Apr. 12 4,000
29 1,800 Bal. 4,000
3,300
Bal. 3,300
 Notes Payable Service Vehicle
Apr. 3 30,000 Apr. 3 80,000
Bal. 28,000 Bal. 80,000

Accounts Payable Villanueva, Withdrawals

Apr. 4 3,200 Apr. 24 3,000
20 8,900 Bal. 3,000
22 600
12,700
Bal. 9,500

Supplies

Villanueva, Capital
Apr. 2 83,300
Bal. 83,300

Utilities Expense

Maintenance Expense

Prepaid Insurance
 Unadjusted Trial Balance
Debit Credit

Cash 16,700
Accounts Receivable 2,900
Supplies 7,700
Prepaid Insurance 4,000
Service Vehicle 80,000
Equipment 18,300
Notes Payable 28,000
Accounts Payable 9,500
Villanueva, Capital 83,300
Villanueva, Withdrawals 3,000
Painting Revenues 16,100
Wages Expense 3,300
Utilities Expense 600
Maintenance Expense 400
Total 136,900 136,900
Net Income