BMSH2301
Name: Section:
Date: Score:
Group Activity
Instruction: Using the given information below, prepare an Income Statement, Statement of Owner’s Equity,
Balance Sheet, and Statement of Cash Flow for John Edward Mara’s Car Wash Business. (80 points)
Mara’s Car Wash
For the month of November 2022
Account Name Debit Credit
Cash P45,250
Accounts Receivable 6,000
Office Supplies 2,000
Car Wash Supplies 4,000
Prepaid Rent 20,000
Car Wash Equipment 55,000
Accumulated Depreciation P916.67
Accounts Payable 41,250
Interest Payable 343.75
E.Mara’s Capital 100,000
E.Mara’s Withdrawal 3,000
Car Wash Revenue 35,000
Rent Expense 10,000
Salary Expense 18,000
Office Supplies Expense 500
Car Wash Supplies Expense 3,500
Utilities Expense 4,000
Licenses Expense 5,000
Depreciation Expense 916.67
Interest Expense 343.75
TOTAL P177,510.42 P177,510.42
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BMSH2301
Income Statement (11 items x 2 points)
Mara’s Car Wash
Income Statement
For the month of November 2022
Statement of Owner’s Equity (5 items x 2 points)
Mara’s Car Wash
Statement of Owner’s Equity
For the month of November 2022
Balance Sheet (13 items x 2 points)
Mara’s Car Wash
Balance Sheet
As of November 2022
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BMSH2301
Statement of Cash Flow (11 items x 2 points)
Mara’s Car Wash
Statement of Cash Flow
For the month of November 2022
04 Activity 2 *Property of STI
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