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C Preparation ofAdusting Eres NESTOR MARTEL HOPPE Unaqusted Tial Balance December 31, 20CY ACCOUNT TITLE CERIT CBERIT Cash 78,400 Merchandse imventory 10,000 Accounts Recavable 8.900 Prepad Insurance 6.000 Office Suppies 2,500 Furniture and Equpmert 75,000 Accounts Payable Loan Payable Nestor Martel Capital Nestor Martel, Drawing 40,000 60,000 60,000 12,000 Sales 44,400 Salary Expense 5,500 Advertising Expense 3,800 UBibes Expense 1,500 Miscellaneous Expense 1,000 P. 104,400 104,400 Total Addtional information 1. The one-year P 6,000 insurance paid was etfective December 1 2. Office rental of P 4,000 for the month of December was still unpaid. 3. Interest of 18% per annum on P 60.000 bark loan granted on December 11 has accrued 4. Advertising placement of P 3,800 for threo months was eftective on Dec. 1 5. Fees of P 5,000 collected in advance on December 30 will be for services to to be rendered next year 6. Ofmce supplies unused at the end of the month amounted to P 1,600 7. Fumiture and equipment are estimated to have a useful ife of ten years It was decided to provide one-month depreciation for December Required a. Prepare the necessary adjusting entries b. Prepare a worksheet indicating the unadusted trial balance, adjustments and the aqusted trial badance 10

C Preparation ofAdusting Eres NESTOR MARTEL HOPPE Unaqusted Tial Balance December 31, 20CY ACCOUNT TITLE CERIT CBERIT Cash 78,400 Merchandse imventory 10,000 Accounts Recavable 8.900 Prepad Insurance 6.000 Office Suppies 2,500 Furniture and Equpmert 75,000 Accounts Payable Loan Payable Nestor Martel Capital Nestor Martel, Drawing 40,000 60,000 60,000 12,000 Sales 44,400 Salary Expense 5,500 Advertising Expense 3,800 UBibes Expense 1,500 Miscellaneous Expense 1,000 P. 104,400 104,400 Total Addtional information 1. The one-year P 6,000 insurance paid was etfective December 1 2. Office rental of P 4,000 for the month of December was still unpaid. 3. Interest of 18% per annum on P 60.000 bark loan granted on December 11 has accrued 4. Advertising placement of P 3,800 for threo months was eftective on Dec. 1 5. Fees of P 5,000 collected in advance on December 30 will be for services to to be rendered next year 6. Ofmce supplies unused at the end of the month amounted to P 1,600 7. Fumiture and equipment are estimated to have a useful ife of ten years It was decided to provide one-month depreciation for December Required a. Prepare the necessary adjusting entries b. Prepare a worksheet indicating the unadusted trial balance, adjustments and the aqusted trial badance 10

Accounting (Text Only)
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 3.27EX: Adjusting entries from trial balances The accountant for Evas Laundry prepared the following...
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C Preparation of Adusting Ereries NESTOR MARTEL HOPPE Unadusted Trial Balance December 31, 20CY ACCOUNT TITLE CERIT CBEDIT Cash 78,400 Merchandse imertory 10,000 Accounts Recavable 8.900 Prepad Insurance 6.000 Offce Suppies 2,500 Furniture and Equipment 75,000 Accounts Payable 40,000 Loan Payable Nestor Martel.Capital Nestor Martel, Drawing 60,000 60,000 12,000 Sales 44,400 Salary Expense 5,500 Advertising Exponse 3,800 GO UDibes Expense 1,500 Miscellaneaus Expense 1,000 Total P. 104,400 104,400 Addtional information B L. The one-year P6,000 insurance paid was effactive December 1 2. Office rental of P4,000 for the month of December was still unpaid. 3. Interest of 18% per annum on P 60.000 bark loan granted on December 11 has accrued. 4. Advertising placement of P 3,600 for three months was eftective on Dec. 1 5. Fees of P 5,000 collected in advance on December 30 will be for servces to to be rendered next year 6. Ofce suppli es unused at the end of the month amounted to P1,600 7. Fumiture and equipment are estimated to have a useful ife of ten years It wes decided to provide one-month depreciation for December Required a. Prepare the necessary adjusting entries b. Prepare a worksheet indicating the unadjusted trial balance, adjustments and the aqusted trial balance 10
Transcribed Image Text:C Preparation of Adusting Ereries NESTOR MARTEL HOPPE Unadusted Trial Balance December 31, 20CY ACCOUNT TITLE CERIT CBEDIT Cash 78,400 Merchandse imertory 10,000 Accounts Recavable 8.900 Prepad Insurance 6.000 Offce Suppies 2,500 Furniture and Equipment 75,000 Accounts Payable 40,000 Loan Payable Nestor Martel.Capital Nestor Martel, Drawing 60,000 60,000 12,000 Sales 44,400 Salary Expense 5,500 Advertising Exponse 3,800 GO UDibes Expense 1,500 Miscellaneaus Expense 1,000 Total P. 104,400 104,400 Addtional information B L. The one-year P6,000 insurance paid was effactive December 1 2. Office rental of P4,000 for the month of December was still unpaid. 3. Interest of 18% per annum on P 60.000 bark loan granted on December 11 has accrued. 4. Advertising placement of P 3,600 for three months was eftective on Dec. 1 5. Fees of P 5,000 collected in advance on December 30 will be for servces to to be rendered next year 6. Ofce suppli es unused at the end of the month amounted to P1,600 7. Fumiture and equipment are estimated to have a useful ife of ten years It wes decided to provide one-month depreciation for December Required a. Prepare the necessary adjusting entries b. Prepare a worksheet indicating the unadjusted trial balance, adjustments and the aqusted trial balance 10
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