Required: Prepare the Adjusting Journal Entries. Thank you!:) The May 31, 2018 trial balance for Rosalina Besario Surveyors is presented as follows:Problem #4Worksheet PreparationRosalina Besario SurveyorsTrial BalanceMay 31, 2018CashAccounts ReceivableP 210,000930,000360,000270,0001,890,000Prepaid AdvertisingEngineering SuppliesSurvey EquipmentAccum. Depreciation-Survey Equipt.Accounts PayableUnearned Survey RevenuesNotes PayableBesario, CapitalBesario, WithdrawalsSurvey RevenuesSalaries ExpenseP 640,000190,000120,000500,0001,120,000700,0006,510,0003,270,000Rent ExpenseInsurance ExpenseUtilities ExpenseMiscellaneous Expense960,000250,000160,00080,000TotalsP9,080,000P9,080,000The following information pertaining to the year-end adjustments is available:a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2017 formonthly advertising over the next 18 months.b. A count of the engineering supplies at May 31, 2018 amounted to P90,000.C. Depreciation on the surveying equipment amounted to P160,000.d. One-third of the unearned survey revenues has been earned at year-end.e. At year-end, salaries in the amount of P140,000 have accrued.i Interest of P60,000 on the notes payable has accrued at year-end.

Name: Required: Prepare the Adjusting Journal Entries. Thank you!:) The May
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Description: Required: Prepare the Adjusting Journal Entries. Thank you!:) The May 31, 2018 trial balance for Rosalina Besario Surveyors is presented as follows:Problem #4Worksheet PreparationRosalina Besario SurveyorsTrial BalanceMay 31, 2018CashAccounts Receiva

Adjusting entries are entries that are passed at the end of the period to accurately reflect income,…

Answered: Required: Prepare the Adjusting Journal…

Business

Accounting

Required: Prepare the Adjusting Journal Entries. Thank you!:)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EB: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. amount due for employee salaries, $4,800 B. actual count of supplies inventory, $ 2,300 C. depreciation on equipment, $3,000
The May 31, 2018 unadjusted trial balance for Rosalina Besario Surveyors is presented as follows: Rosalina Besario Surveyors Unadjusted Trial Balance May 31, 2018 Cash 210,000Accounts Receivable 930,000Prepaid Advertising 360,000Engineering Supplies 270,000Survey Equipment 1,890,000Accumulated Depreciation-Survey Equipment 640,000Accounts Payable 190,000Unearned Survey Revenues 120,000Notes Payable 500,000Besario, Capital 1,120,000Besario, Withdrawals 700,000Survey Revenues 6,510,000Salaries Expense 3,270,000Rent Expense 960,000Insurance Expense…
NEED ANSWER ASAP At the end of the 2021 year, the accounting staff at Prestige Design Flooring Inc. (PDF) have the followingunadjusted trial balance as at December 31, 2021.Cash 6,700Accounts Receivable 24,327Supplies 4,231Prepaid Insurance 5,700Equipment 896,000Accumulated Depreciation (Equipment) 112,600Other Assets 64,225Accounts Payable 14,327Unearned Service Revenue 16,600Note Payable (due 2026) 80,000Common Shares 289,540Retained Earnings, 12/31/2020 38,454Service Revenue 802,427Wages Expense 131,650Rent Expense 218,415Interest Expense 2,700 Total $1,353,948 $1,353,948The accounting staff have identified the following items where a year end accrual entry may be required.a. PDF purchased 12-month insurance on July 1, 2021. It is reported as prepaid insurance in the trial balanceabove.b. A physical inventory count showed that $690 of office supplies is on hand at year end.c. PDF’s equipment depreciation was $31,980 for the 2021 year.d. An analysis showed the unearned service…
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