WEEK 8: PREPARATION OF WORKSHEET (Page 338 : 8-4) Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank P 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account P 1,200.00 Unused Supplies 15,000.00 8,500.00 Prepaid Insurance Prepaid Rent Delivery Truck 30,000.00 1,500,000.00 Accumulated Depreciation -Delivery Truck 250,000.00 Accounts Payable 130,000.00 P. Cajegas, Capital P. Cajegas , Drawing Trucking Income Taxes and Licenses 1,818,500.00 50,000.00 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 25,000.00 Retainers Fee Salaries and Wages 320,000.00 Utilities Expenses 8,200.00 Total 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a. ) Adjusting entries (to guide you in the completion of worksheet) b. )A 10-column worksheet

WEEK 8: PREPARATION OF WORKSHEET (Page 338 : 8-4) Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank P 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account P 1,200.00 Unused Supplies 15,000.00 8,500.00 Prepaid Insurance Prepaid Rent Delivery Truck 30,000.00 1,500,000.00 Accumulated Depreciation -Delivery Truck 250,000.00 Accounts Payable 130,000.00 P. Cajegas, Capital P. Cajegas , Drawing Trucking Income Taxes and Licenses 1,818,500.00 50,000.00 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 25,000.00 Retainers Fee Salaries and Wages 320,000.00 Utilities Expenses 8,200.00 Total 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a. ) Adjusting entries (to guide you in the completion of worksheet) b. )A 10-column worksheet

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 1MC

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