2017 Melanie Villas, Michael Eclevia and Camille Bacatan decided that they are going to

create a corporation.

1/1 Melanie invested P1,000,000, Michael invested P1,000,000 and Camille invested
P500,000 to the corporation.
1/1 KMJS corp. bought supplies worth P250,000 and equipments worth P300,000.
1/1 Mrs. Mendes offered an office for rent.
1/1 The three accepted the offer of Mrs. Mendes for P10,000 a month and moved in after a
day.
1/2 KMJS corp asked Elixir Ads to advertise their company.
1/2 KMJS corp paid Elixir Ads P20,000 for the services they have rendered.
1/14 KMJS corp hired some employees.
1/30 The corp paid expenses amounting to P25,000.
1/31 KMJS paid for the office rent for the month of January.

2/4 Ace Magno inquired about the services offered by the corp.
2/5 Ace Magno and KMJS corp. agreed to the deal that the corporation will reinnovate Ace
Magno’s condominium for only P100,000.
2/10 The corp started to reinnovate the client’s condo.
2/17 KMJS corp finished it.
2/17 Ace Magno paid P100,000.
2/29 The corp paid rent for the month of February.
2/30 The corp paid expenses amounting to P35,000.
2/30 The corp paid salaries to their employees.

3/4 Pekeng Duck inquired about the services offered by the corp.
3/5 Pekeng Duck and KMJS corp. agreed to the deal that the corporation will reinnovate Ace
Magno’s condominium for only P120,000.
3/10 The corp started to reinnovate the client’s condo.
3/17 KMJS corp finished it.
3/17 Pekeng Duck paid P120,000.
3/29 The corp paid rent for the month of March.
3/30 The corp paid expenses amounting to P21,000.
3/31 The corp paid salaries to their employees.

4/4 John Travolta inquired about the services offered by the corp.
4/5 Travolta and KMJS corp. agreed to the deal that the corporation will reinnovate John
Travolta’s house for only P70,000.
4/10 The corp started to reinnovate the client’s house.
4/19 KMJS corp finished it.
4/19 Travolta paid P70,000.
4/30 The corp paid rent for the month of April.
4/30 The corp paid expenses amounting to P25,000.
4/30 The corp paid salaries to their employees.

5/2 Shake Speare inquired about the services offered by the corp.
5/8 Shake Speare and KMJS corp. agreed to the deal that the corporation will reinnovate
Shake Speare house for only P90,000.
5/12 The corp started to reinnovate the client’s house.
5/15 KMJS corp finished it.
5/15 Shake Speare paid P90,000.
5/29 The corp paid rent for the month of May.
5/30 The corp paid expenses amounting to P26,000.
5/31 The corp paid salaries to their employees.

6/2 Peeta Shak inquired about the services offered by the corp.
6/8 Peeta Shak and KMJS corp. agreed to the deal that the corporation will reinnovate Peeta
Shak’s condo for only P50,000.
6/9 The corp started to reinnovate the client’s condo.
6/19 KMJS corp finished it.
6/19 Peeta Shak paid P50,000.
6/29 The corp paid rent for the month of June.
6/30 The corp paid expenses amounting to P28,000.
6/30 The corp paid salaries to their employees.

7/3 Isaac New inquired about the services offered by the corp.
7/3 Isaac New and KMJS corp. agreed to the deal that the corporation will reinnovate Isaac
New’s house for only P120,000.
7/9 The corp started to reinnovate the client’s condo.
7/19 KMJS corp finished it.
7/19 Isaac New paid P120,000.
7/28 The corp paid rent for the month of June.
7/30 The corp paid expenses amounting to P24,000.
7/31 The corp paid salaries to their employees.

8/2 Isa Dalawa inquired about the services offered by the corp.
8/5 Isa Dalawa and KMJS corp. agreed to the deal that the corporation will reinnovate Isa
Dalawa’s house for only P130,000.
8/12 The corp started to reinnovate the client’s house.
8/18 KMJS corp finished it.
8/18 Isaac New paid P130,000.
8/25 The corp paid rent for the month of August.
8/30 The corp paid expenses amounting to P29,000.
8/30 The corp paid salaries to their employees.

9/4 Jenny Han inquired about the services offered by the corp.
9/6 Jenny Han and KMJS corp. agreed to the deal that the corporation will reinnovate Jenny
Han’s house for only P180,000.
9/11 The corp started to reinnovate the client’s house.
9/19 KMJS corp finished it.
9/19 Jenny Han paid P180,000.
9/23 The corp paid rent for the month of September.
9/30 The corp paid expenses amounting to P23,000.
9/30 The corp paid salaries to their employees.

10/3 Pete Nowalk inquired about the services offered by the corp.
10/8 Pete Nowalk and KMJS corp. agreed to the deal that the corporation will reinnovate Pete
Nowalk’s house for only P120,000.
10/10 The corp started to reinnovate the client’s house.
10/21 KMJS corp finished it.
10/21 Pete Nowalk paid P120,000.
10/25 The corp paid rent for the month of October.
10/30 The corp paid expenses amounting to P36,000.
10/30 The corp paid salaries to their employees.

11/4 Two Three inquired about the services offered by the corp.
11/6 Two Three and KMJS corp. agreed to the deal that the corporation will reinnovate Two
Three’s condo for only P120,000.
11/12 The corp started to reinnovate the client’s condo.
11/16 KMJS corp finished it.
11/16 Two Three paid P120,000.
11/27 The corp paid rent for the month of November.
11/30 The corp paid expenses amounting to P46,000.
11/30 The corp paid salaries to their employees.

12/3 Pitik Bulag inquired about the services offered by the corp.
12/5 Pitik Bulag and KMJS corp. agreed to the deal that the corporation will reinnovate Pitik
Bulag’s condo for only P130,000 to be paid on December 28.
12/11 The corp started to reinnovate the client’s condo.
12/14 KMJS corp finished it.
12/27 The corp paid rent for the month of December.
12/28 The corp paid expenses amounting to P26,000.
12/28 The corp paid salaries to their employees.

ADJUSTING:

Depreciation Expense amounted to P21,000.

Supplies left amounted to P32,000.
Pitik Bulag paid his payable in cash.