4. Closing Entries 5. Post-Closing Trial Balance *"Kenpachi is in ita 1=year of operation with an original capital of P971.500 KENPACHI GENERAL REPAIRS AND OTHER SERVICES Adjusted Trial Balance December 31, 2019 PARTICULARS Debit Credit Canh 2,050,000 Accounts Receivable 70,000 Allowance for Doubtful Accounts Office Supplies Prepaid Rent Machinery and Equipment Accumulated Depreciation- Machinery and Equipment 8,500 3,000 36,000 310,000 31,000 Furniture and Fistures 180,000 Accumulated Depreciation- Furniture and Fixture Accounts Payable Notes Payable Kenpachi. Capital Service Revenue 18,000 28,000 600,000 971,500 1,070,000 Misceilaneous Expense Utilities Expense Rent Expense Doubtful Accounts Expense Depreciation Expense Supplies Expense 4,500 6,000 12.000 2.500 49,000 4.000 2.727,000 2.72Z,000

4. Closing Entries 5. Post-Closing Trial Balance *"Kenpachi is in ita 1=year of operation with an original capital of P971.500 KENPACHI GENERAL REPAIRS AND OTHER SERVICES Adjusted Trial Balance December 31, 2019 PARTICULARS Debit Credit Canh 2,050,000 Accounts Receivable 70,000 Allowance for Doubtful Accounts Office Supplies Prepaid Rent Machinery and Equipment Accumulated Depreciation- Machinery and Equipment 8,500 3,000 36,000 310,000 31,000 Furniture and Fistures 180,000 Accumulated Depreciation- Furniture and Fixture Accounts Payable Notes Payable Kenpachi. Capital Service Revenue 18,000 28,000 600,000 971,500 1,070,000 Misceilaneous Expense Utilities Expense Rent Expense Doubtful Accounts Expense Depreciation Expense Supplies Expense 4,500 6,000 12.000 2.500 49,000 4.000 2.727,000 2.72Z,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 1AP

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NEED ANSWER ASAP At the end of the 2021 year, the accounting staff at Prestige Design Flooring Inc. (PDF) have the followingunadjusted trial balance as at December 31, 2021.Cash 6,700Accounts Receivable 24,327Supplies 4,231Prepaid Insurance 5,700Equipment 896,000Accumulated Depreciation (Equipment) 112,600Other Assets 64,225Accounts Payable 14,327Unearned Service Revenue 16,600Note Payable (due 2026) 80,000Common Shares 289,540Retained Earnings, 12/31/2020 38,454Service Revenue 802,427Wages Expense 131,650Rent Expense 218,415Interest Expense 2,700 Total $1,353,948 $1,353,948The accounting staff have identified the following items where a year end accrual entry may be required.a. PDF purchased 12-month insurance on July 1, 2021. It is reported as prepaid insurance in the trial balanceabove.b. A physical inventory count showed that $690 of office supplies is on hand at year end.c. PDF’s equipment depreciation was $31,980 for the 2021 year.d. An analysis showed the unearned service…
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The accounts and balances shown below were taken from ACCCOB2 Company’s trial balance on December 31, 2021. All adjusting entries have been made: Cash P 175,000 Prepaid rent 136,000 Inventory 820,000 Investment - FVPL 153,000 Accounts receivable 366,000 Sinking fund asset 525,000 Investment in associates 1,020,000 Property, plant & equipment, net 1,700,000 Patents, net 150,000 Wages payable 250,000 Dividends payable 140,000 Taxes payable 228,000 Accounts payable 248,000 Bonds Payable 648,000 How much should be reported in ACCCOB2’s December 31, 2021 statement of financial position as current and non-current assets, respectively? Group of answer choices P1,800,000 and P2,225,000 P1,650,000 and P3,395,000 P1,800,000 and P3,795,000 P1650,000 and P2,375,000
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