B. Construct T-accounts for the account titles used with the normal balances.
Extracted text: Date Transaction March 1 Caleb invested P50,000 cash and P20,000 equipment to his Kaizen Consultancy Services. 3 Bought P15,000 equipment from Triple M Čo., on credit. 6 Consultancy services rendered on account, P12,000. 6 Paid Triple M Co., P5,000 as partial payment of account. 7 Consultancy services rendered for cash, P8,000. 8 Collected P3,000 from a customer. 10 Received electric bill from Meralco, P2,800. 12 Returned P1,500 defective equipment to Triple M Co. Caleb withdrew P9,000 from the company's bank account and deposited it 13 to his own acCount. 14 Paid electric bill to Meralco. 15 Caleb withdrew P40,000 for his vacation. 23 Paid Triple M Co., in fullI. 24 Caleb deposited P14,000 to the company's bank account.
Extracted text: Kaizen Consultancy Services Chart of AcCounts Balance Sheet Accounts Assets: Liabilities: 110 Cash 210 Accounts Payable 120 Accounts Receivable 220 Notes Payable 130 Equipment 230 Utilities Payable 135 Accumulated Depreciation 260 Unearned Service Revenue Owner's Equity 310 C. Hahn, Capital 320 C. Hahn, Drawing 330 Income Summary Income Statement Accounts Income: Expenses: 410 Service Revenue 510 Rent Expense 520 Utilities Expense 530 Depreciation Expense - Office Equipment