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Find the adjusting entry a. The payment of the P19,000 insurance premium for two years in advance was originally recorded as Prepaid Insurance. One year of the policy has now expired. b. All employees earn a total of P10,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the workweek ending Dec. 26. They work on Monday, Dec. 30 and Wednesday, Dec. 31. c. The supplies account had a balance of P4,480 on Jan. 1. During the year, P11,000 of supplies were bought. A year-end inventory showed that P6,400 worth of supplies are still on hand d. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. Record the depreciation for the year.

Find the adjusting entry a. The payment of the P19,000 insurance premium for two years in advance was originally recorded as Prepaid Insurance. One year of the policy has now expired. b. All employees earn a total of P10,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the workweek ending Dec. 26. They work on Monday, Dec. 30 and Wednesday, Dec. 31. c. The supplies account had a balance of P4,480 on Jan. 1. During the year, P11,000 of supplies were bought. A year-end inventory showed that P6,400 worth of supplies are still on hand d. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. Record the depreciation for the year.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter11: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 11.19E
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Find the adjusting entry
a. The payment of the P19,000 insurance premium for two years in advance was originally recorded as Prepaid Insurance. One year of the policy has now expired.
b. All employees earn a total of P10,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the workweek ending Dec. 26. They work on Monday, Dec. 30 and Wednesday, Dec. 31.
c. The supplies account had a balance of P4,480 on Jan. 1. During the year, P11,000 of supplies were bought. A year-end inventory showed that P6,400 worth of supplies are still on hand
d. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. Record the depreciation for the year.

f (2) Facebook financial statement of escano - H X O Performance-Task-1-and-2-Topic x My Questions | bartleby + O File C:/Users/Crystal%20Mae%20Sevilla/Downloads/Performance-Task-1-and-2-Topic-FS%20(1).pdf Performance-Task-1-and-2-Topic-FS (1).pdf 2 / 3 - 134% Prepare the adjusting entry for each of the following for the year ending Dec 31, 2020. a. The payment of the P19,000 insurance premium for two years in advance was originally recorded as Prepaid Insurance. One year of the policy has now expired. 1 2 b. All employees earn a total of P10,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the workweek ending Dec. 26. They work on Monday, Dec. 30 and Wednesday, Dec. 31. The supplies account had a balance of P4,480 on Jan. 1. During the year, P11,000 of supplies were bought. A year-end inventory showed that P6,400 worth of supplies are still on hand d. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. Record the depreciation for the year. C. ENG 3 5:11 PM 30/09/2021 Performance task 2
Transcribed Image Text:f (2) Facebook financial statement of escano - H X O Performance-Task-1-and-2-Topic x My Questions | bartleby + O File C:/Users/Crystal%20Mae%20Sevilla/Downloads/Performance-Task-1-and-2-Topic-FS%20(1).pdf Performance-Task-1-and-2-Topic-FS (1).pdf 2 / 3 - 134% Prepare the adjusting entry for each of the following for the year ending Dec 31, 2020. a. The payment of the P19,000 insurance premium for two years in advance was originally recorded as Prepaid Insurance. One year of the policy has now expired. 1 2 b. All employees earn a total of P10,000 per day for a five-day week beginning on Monday and ending Friday. They were paid for the workweek ending Dec. 26. They work on Monday, Dec. 30 and Wednesday, Dec. 31. The supplies account had a balance of P4,480 on Jan. 1. During the year, P11,000 of supplies were bought. A year-end inventory showed that P6,400 worth of supplies are still on hand d. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. Record the depreciation for the year. C. ENG 3 5:11 PM 30/09/2021 Performance task 2
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