Mavic Enterprises
Post \( { }^{t} \) Closing Trial Balance
December 31, 20X1
(in Philippine Peso)
\begin{tabular}{|c|c|c|c|}
\hline \begin{tabular}{c}
TITLE \\
Petty Cash Fund
\end{tabular} & & Dr. & \multirow{10}{*}{12,000} \\
\hline \begin{tabular}{l}
Petty Cash Fund \\
Cash in Bank
\end{tabular} & P & 5,000 & \\
\hline Accounts Receivable & & 146,400 & \\
\hline \begin{tabular}{l}
Accounts Receivable \\
Allowance for Bad Debts
\end{tabular} & & 175,000 & \\
\hline Allowance for Bad Debts & & & \\
\hline Unused Supplies & & 135,000 & \\
\hline Prepaid Insurance & & 2,000 & \\
\hline Rental Deposit & & 150,000 & \\
\hline Office Equipment & & 70,000 & \\
\hline Accumulated Depreciation & & & \\
\hline -Office Equipment & & & 4,500 \\
\hline Laboratory Equipment & & 400,000 & \\
\hline Accumulated Depreciation & & & \\
\hline -Laboratory Equipment & & & 5,000 \\
\hline Expenses Payable & & & 2,000 \\
\hline Accounts Payable & & & 65,000 \\
\hline Loans Payable & & & 100,000 \\
\hline Withholding Taxes Payable & & & 14,500 \\
\hline SSS/EC Premiums Payable & & & 4,900 \\
\hline HDMF Premiums Payable & & & 2,000 \\
\hline PhilHealth Premiums Payable & & & 3,500 \\
\hline Mavic Perez, Capital & & & \( 1,120,000 \) \\
\hline Mavic Perez, Drawings & & 250,000 & \\
\hline Totals & \( \overline{\mathrm{P}} \) & \( 1,333,400 \) & P \( 1,333,400 \) \\
\hline
\end{tabular}
Required: Statement of Financial Position
(a) Report Form
(b) Account Form
