To illustrate: a) Mr. San Juan has a total savings of P 300,000 which he invested in a business venture b) Knowing that this will not be enough, he borrowed P 150,000 from BDO c) He searched for a...

Extracted text: To illustrate: a) Mr. San Juan has a total savings of P 300,000 which he invested in a business venture b) Knowing that this will not be enough, he borrowed P 150,000 from BDO c) He searched for a site, near a school to start a computer business. He purchased a desktop computers for P 350,000 and some paper supplies for 50,000. d) The remaining P 50,000 he put aside as cash reserve for his future needs During the month of October, the following transactions took place: He has a sales revenue of P 80,000 in cash Utility expenses of P 15,000 for the rent, P 5,000 for the water and electricity, and P 4,000 for the internet. For the paper supplies, he already used up 50% that he bought. Prepare the reports. 1/2 A. Statement of Income (wealth produced for October): Sales Rent Water and Power Supplies used Internet Profit for October B. Statement of Changes in Equity for October: San Juan, Capital October 1 Add Profit San Juan, Capital October 31 C. Statement of Cash Flows for October: Cash receipts from customers Cash paid for supplies Cash withdrawn by San Juan Cash paid for rent Cash paid for water and power Cash paid for Internet Increase in Cash Cash at the beginning of October Cash at the end of October P D. Statement of Financial Position (wealth accumulated) as at October 31: Cash P Supplies Computers Total Assets Loan Payable to Bank San Juan, Capital Total Liabilities and Owner's Equity P P P.