Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund Accounts Receivable Est. Uncollectible Account Unused Supplies Prepaid Insurance Prepaid Rent Delivery Truck Acc. Depreciation-Delivery Truck Accounts Payable P. Cajegas, Capital P. Cajegas, Drawing Trucking Income Taxes & Licenses P1,020,000 1,000 120,000 Cah n 8 y Ca Acount bomate Pepaid epaid pera Buldin Ac D Furmit Acc P. 1,200 15,000 8,500 30,000 1,500,000 250,000 130,000 1,818,500 50,000 Enen 935,000 Note 10,000 Repairs & Maintenance Retainer Fees 27,000 25,000 320,000 8,200 P 3,134,700 Salaries & Wages Hot Utilities Expense Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstan receivable account. 2. Supplies actually on hand, PS,000. 3. Of the Prepaid Insurance, P6,200 has actually expired. 4. P18,000 of the prepaid rental has expired. 5. Depreciation expense for the period is P105,000. Required: a) An 8-column worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity
Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund Accounts Receivable Est. Uncollectible Account Unused Supplies Prepaid Insurance Prepaid Rent Delivery Truck Acc. Depreciation-Delivery Truck Accounts Payable P. Cajegas, Capital P. Cajegas, Drawing Trucking Income Taxes & Licenses P1,020,000 1,000 120,000 Cah n 8 y Ca Acount bomate Pepaid epaid pera Buldin Ac D Furmit Acc P. 1,200 15,000 8,500 30,000 1,500,000 250,000 130,000 1,818,500 50,000 Enen 935,000 Note 10,000 Repairs & Maintenance Retainer Fees 27,000 25,000 320,000 8,200 P 3,134,700 Salaries & Wages Hot Utilities Expense Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstan receivable account. 2. Supplies actually on hand, PS,000. 3. Of the Prepaid Insurance, P6,200 has actually expired. 4. P18,000 of the prepaid rental has expired. 5. Depreciation expense for the period is P105,000. Required: a) An 8-column worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter9: Receivables
Section: Chapter Questions
Problem 9.21EX: Entries for notes receivable The series of five transactions recorded in the following T accounts...
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Instruction:
1. Prepare
2. Complete the 10-column worksheet.
3. Prepare Financial Statement: Balance Sheet, Income Statement and Statement of Changes in Owner's Equity.
Transcribed Image Text:Chapter 8
8-4
Cajegas Trucking Services
Trial Balance
na has
June 30, 208
Debit
Credit
Cash in Bank
P 1,020,000
Petty Cash Fund
Accounts Receivable
Est. Uncollectible Account
Unused Supplies
Prepaid Insurance
Prepaid Rent
Delivery Truck
Acc. Depreciation-Delivery Truck
Accounts Payable
P. Cajegas, Capital
P. Cajegas, Drawing
Trucking Income
Taxes & Licenses
Canh in B
tay Ca
AVount
Emate
Pepai
hpaid
1,000
120,000
P.
1,200
15,000
8,500
30,000
1,500,000
Operat
250,000
130,000
1,818,500
Arc. D
Aumit
50,000
ne
935,000
Note
10,000
0.T
D.T
Repairs & Maintenance
Retainer Fees
27,000
Salaries & Wages
Utilities Expense
25,000
320,000
8,200
P 3,134,700
Total
P 3,134,700
Additional Information
1.
Provision for Uncollectible Account should be at 2% of the outstand
receivable account.
2.
Supplies actually on hand, P5,000.
3.
Of the Prepaid Insurance, P6,200 has actually expired.
4.
P18,000 of the prepaid rental has expired.
5.
Depreciation expense for the period is P105,000.
Required:
a) An 8-column worksheet
b) Balance Sheet
c) Income Statement
d) Statement of Changes in Owner's Equity
338
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