Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the first year of operations shown below: Donald Electronics Trial Balance April 30, 2019 Cash 3,450 Accounts Receivable 22,500 5,400 Supplies Equipment 113,700 Accounts Payable P 5,250 Unearned Fees 6,000 Hans Donald, Capital Hans Donald, Drawings 78,000 4,500 Fees earned 135,750 Salaries Expense Rent Expense 31,500 24,000 Utilities Expense 17,250 Miscellaneous Expense 2,700 225,000 P 225,000 For preparing the adjusting entries, the following data were assembled: a. Fees earned but unbilled on April 30 were P1,775. b. Supplies on hand on April 30 were P1,200. c. Depreciation of equipment was estimated to be P4,100 for the year. d. The balance in unearned fees represented the April 1 receipt in advance for serv provided. Only P1,750 of the services was provided between April 1 and April 30.
Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the first year of operations shown below: Donald Electronics Trial Balance April 30, 2019 Cash 3,450 Accounts Receivable 22,500 5,400 Supplies Equipment 113,700 Accounts Payable P 5,250 Unearned Fees 6,000 Hans Donald, Capital Hans Donald, Drawings 78,000 4,500 Fees earned 135,750 Salaries Expense Rent Expense 31,500 24,000 Utilities Expense 17,250 Miscellaneous Expense 2,700 225,000 P 225,000 For preparing the adjusting entries, the following data were assembled: a. Fees earned but unbilled on April 30 were P1,775. b. Supplies on hand on April 30 were P1,200. c. Depreciation of equipment was estimated to be P4,100 for the year. d. The balance in unearned fees represented the April 1 receipt in advance for serv provided. Only P1,750 of the services was provided between April 1 and April 30.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 5PB: Reece Financial Services Co., which specializes in appliance repair services, is owned and operated...
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