Department of Tourism Worksheet As of December 31, 2019 Unadjusted Trail Balance Adjustments Adjusted or Pre-adjusted Trail Bal. Closing entries Statement of Income and Expense Post-Closing trial Bal Balance Sheet Account Code Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash - TreasurylAgency Cash - MDS, Regular Cash - TRA Cash- Collecting Officer 10104010 P100,000 P25,000 P70,000 P55,000 55,000 P55,000 10104040 180,000 15,000 165,000 165,000 P165,000 10104070 70,000 70,000 140,000 140,000 P140,000 10101010 175,000 25,090 149,910 149.910 P149,910 19901040 Advances to Officers and Employees 12,000 12,000 12,000 12,000 10301010 Accounts Receivable 90 90 90 P90 10305020 Due from Officers and Emplyoees 20,000 150,000 130,000 130,000 130,000 10404010 Office Supplies Inventory 450,000 125,000 325,000 325,000 P325,000 19902020 Prepaid Rent 360,000 210,000 150,000 150,000 P150,000 19902050 Prepaid Insurance 120,000 30,000 90,000 90,000 P90,000 10605020 Building 11,000,000 11.000.000 11,000,000 P11,000,000 Office Equipment Accumulated Depreciation - Building 10605020 4,000,000 4,000.000 4,000,000 P4,000,000 10604011 P1,500.000 1,500,000 1,500,000 1,500,000 10605021 Accumulated Depreciation - Equipment 450,000 450,000 450.000 450,000 20101010 Account Payable 1,500,000 15,000 1,485,000 1,485,000 1,485,000 20401040 Guaranteed/Deposit Payable 350,000 12,000 338,000 338,000 338,000 30101010 Accumulated Surplus/Deficit 7,640,000 7,640,000 4,370,000 12,010,000 30301010 Revenue and Expense Summary Account: 8,375,000 8,525,000 150,000 40202990 Other Business Income 300,000 300,000 300,000 300,000 40202050 Rent Income 200,000 25,000 225,000 225,000 225,000 40301010 8,000,000 Subsidy from National Government Salaries and Wage - Regular 8,000,000 8,000,000 50101010 2,670,000 2,670,000 2,670,000 2,670,000 50102010 PERA 220,000 220,000 220,000 220,000 50299050 Rent/Lease Expenses 210,000 210,000 210,000 210,000 50299040 Transportation and Delivery Expenses 2,000 2,000 2,000 2,000 50203010 Office Supplies Expense 125,000 125,000 125,000 125,000 50215030 Insurance Expense 30,000 30,000 30,000 30,000 50202010 Training Expenses 20,000 20,000 20,000 20,000 50201010 Traveling Expense 200,000 20,000 180,000 180,000 180,000 50203090 Fuel, Oil and Lubricants 200,000 2,000 198,000 198,000 198,000 50204020 Electricity 350,000 350,000 350,000 350,000 TOTALS P19,940,000.00 P19,940,000.00 P684,090 P684,090 P20,080,000 P20,080,000 P16,900,000 P16,900,000 4,005,000 P525,000 P16,075,000 P16,075,000 P16,075,000 3915000 NET LOSS 3,480,000 3,480,000 TOTALS 4,005,000 P4,005,000

Department of Tourism Worksheet As of December 31, 2019 Unadjusted Trail Balance Adjustments Adjusted or Pre-adjusted Trail Bal. Closing entries Statement of Income and Expense Post-Closing trial Bal Balance Sheet Account Code Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash - TreasurylAgency Cash - MDS, Regular Cash - TRA Cash- Collecting Officer 10104010 P100,000 P25,000 P70,000 P55,000 55,000 P55,000 10104040 180,000 15,000 165,000 165,000 P165,000 10104070 70,000 70,000 140,000 140,000 P140,000 10101010 175,000 25,090 149,910 149.910 P149,910 19901040 Advances to Officers and Employees 12,000 12,000 12,000 12,000 10301010 Accounts Receivable 90 90 90 P90 10305020 Due from Officers and Emplyoees 20,000 150,000 130,000 130,000 130,000 10404010 Office Supplies Inventory 450,000 125,000 325,000 325,000 P325,000 19902020 Prepaid Rent 360,000 210,000 150,000 150,000 P150,000 19902050 Prepaid Insurance 120,000 30,000 90,000 90,000 P90,000 10605020 Building 11,000,000 11.000.000 11,000,000 P11,000,000 Office Equipment Accumulated Depreciation - Building 10605020 4,000,000 4,000.000 4,000,000 P4,000,000 10604011 P1,500.000 1,500,000 1,500,000 1,500,000 10605021 Accumulated Depreciation - Equipment 450,000 450,000 450.000 450,000 20101010 Account Payable 1,500,000 15,000 1,485,000 1,485,000 1,485,000 20401040 Guaranteed/Deposit Payable 350,000 12,000 338,000 338,000 338,000 30101010 Accumulated Surplus/Deficit 7,640,000 7,640,000 4,370,000 12,010,000 30301010 Revenue and Expense Summary Account: 8,375,000 8,525,000 150,000 40202990 Other Business Income 300,000 300,000 300,000 300,000 40202050 Rent Income 200,000 25,000 225,000 225,000 225,000 40301010 8,000,000 Subsidy from National Government Salaries and Wage - Regular 8,000,000 8,000,000 50101010 2,670,000 2,670,000 2,670,000 2,670,000 50102010 PERA 220,000 220,000 220,000 220,000 50299050 Rent/Lease Expenses 210,000 210,000 210,000 210,000 50299040 Transportation and Delivery Expenses 2,000 2,000 2,000 2,000 50203010 Office Supplies Expense 125,000 125,000 125,000 125,000 50215030 Insurance Expense 30,000 30,000 30,000 30,000 50202010 Training Expenses 20,000 20,000 20,000 20,000 50201010 Traveling Expense 200,000 20,000 180,000 180,000 180,000 50203090 Fuel, Oil and Lubricants 200,000 2,000 198,000 198,000 198,000 50204020 Electricity 350,000 350,000 350,000 350,000 TOTALS P19,940,000.00 P19,940,000.00 P684,090 P684,090 P20,080,000 P20,080,000 P16,900,000 P16,900,000 4,005,000 P525,000 P16,075,000 P16,075,000 P16,075,000 3915000 NET LOSS 3,480,000 3,480,000 TOTALS 4,005,000 P4,005,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 68BPSB

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