On January 1,2004,Mr Eugenio D. Matalino, a graduate of information establish a company under the trade name of "sky lab Internet Cafe" with initial investment of 300,000. The following are the transactions of Mr. Matalino:
2. paid three months rental deposit and advance of store space at shangri-plaza at 5,000 per month.
3. Mr.Matalino incurred, 2,000 for Mayors permit and other tax and licences.
4. it cost Mr. Matalino 50,000 for shop improvements of the internet café.
5. bought computer chairs and tables at cyber zone, INC. worth 25,000 on cash

1.
Dr. Cash 300,000 (Asset)
Cr. Matalino Capital 300,000 (Equity)
2. Is the 3 months one month deposit and 2 months advance?If so,
Dr. Rental Deposit 5,000 (Asset)
Dr. Prepaid Rent 10,000 (Asset)
Cr. Cash 15,000 (Asset)
3.
Dr. Licenses & Fees 2,000 (Expense)
Cr. Cash 2,000 (Asset)
4.
Dr.Leasehold Improvements 50,000 (Asset)
Cr.Cash 50,000 (Asset)
5.
Dr. Furniture & Fixtures 25,000 (Asset)
Cr. Cash 25,000 (Asset)