The May 31, 2020 trial balance for lly Abella Surveyors is presented as follows:Worksheet and Financial Statements | 253NAME:SCORE:SECTION:PROFESSOR:Problem #4Worksheet PreparationIly Abella SurveyorsTrial BalanceMay 31, 2020CashP 210,000930,000360,000Accounts ReceivablePrepaid AdvertisingEngineering SuppliesSurvey EquipmentAccum. Depreciation-Survey Equipt.Accounts PayableUnearned Survey RevenuesNotes PayableAbella, Capital270,0001,890,000P 640,000190,000120,000500,0001,120,000Abella, Withdrawals700,000Survey RevenuesSalaries ExpenseRent ExpenseInsurance ExpenseUtilities Expense6,510,0003,270,000960,000250,000160,00080,000P9,080,000Miscellaneous ExpenseTotalsP9,080,000The following information pertaining to the year-end adjustments is available:The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2019 formonthly advertising over the next 18 months.b. A count of the engineering supplies at May 31, 2020 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.f. Interest of P60,000 on the notes payable has accrued at year-end.a.Required: Prepare the adjustments on the worksheet and complete the worksheet

Trial balance is a bookkeeping worksheet which records balance of all ledgers.

Answered: Required: Prepare the adjustments on…

Business

Accounting

Required: Prepare the adjustments on the worksheet and complete the worksheet

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 4.14C

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The trial balance columns of the worksheet for Cullumber Roofing at March 31, 2020, are as follows. Cullumber RoofingWorksheetFor the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,600 Accounts Receivable 3,300 Supplies 2,330 Equipment 10,956 Accumulated Depreciation—Equipment 1,245 Accounts Payable 2,420 Unearned Service Revenue 690 Owner’s Capital 12,481 Owner’s Drawings 1,080 Service Revenue 6,900 Salaries and Wages Expense 1,010 Miscellaneous Expense 460 23,736 23,736 Other data: 1. A physical count reveals only $500 of roofing supplies on hand. 2. Depreciation for March is $249. 3. Unearned revenue amounted to $230 at March 31. 4. Accrued salaries are $600.
The trial balance columns of the worksheet for Ivanhoe Roofing at March 31, 2020, are as follows. Ivanhoe RoofingWorksheetFor the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,200 Accounts Receivable 3,200 Supplies 1,610 Equipment 11,176 Accumulated Depreciation—Equipment 1,270 Accounts Payable 2,730 Unearned Service Revenue 510 Owner’s Capital 12,126 Owner’s Drawings 1,000 Service Revenue 6,200 Salaries and Wages Expense 1,310 Miscellaneous Expense 340 22,836 22,836 Other data: 1. A physical count reveals only $700 of roofing supplies on hand. 2. Depreciation for March is $254. 3. Unearned revenue amounted to $170 at March 31. 4. Accrued salaries are $700.
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Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Signals Company prepared the following end-ofperiod spreadsheet at December 31, 2019, the end of the fiscal year:Beacon Signals CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 2019Unadjusted Trial Balance Adjustments Adjusted Trial BalanceAccount Title Dr. Cr. Dr. Cr. Dr. Cr.Cash 13,000.00 13,000.00Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00Supplies 3,000.00 (c) 2,250.00 750.00Land 98,000.00 98,000.00Building 500,000.00 500,000.00Accumulated Depreciation-Building 255,300.00 (d) 9,000.00 264,300.00Equipment 121,900.00 121,900.00Accumulated Depreciation-Equipment 100,100.00 (e) 4,500.00 104,600.00Accounts Payable 15,700.00 15,700.00Salaries and Wages Payable (f) 4,900.00 4,900.00Unearned Rent 2,100.00 (g) 1,300.00 800.00Sarah Colin, Capital 238,100.00 238,100.00Sarah Colin, Drawing 10,000.00…
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Beacon Signals Company maintains and repairs warning lights, such as Beacon Signals Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year:Beacon Signals CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 2019Unadjusted Trial Balance Adjustments Adjusted Trial BalanceAccount Title Dr. Cr. Dr. Cr. Dr. Cr.Cash 13,000.00 13,000.00Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00Supplies 3,000.00 (c) 2,250.00 750.00Land 98,000.00 98,000.00Building 500,000.00 500,000.00Accumulated Depreciation-Building 255,300.00 (d) 9,000.00 264,300.00Equipment 121,900.00 121,900.00Accumulated Depreciation-Equipment 100,100.00 (e) 4,500.00 104,600.00Accounts Payable 15,700.00 15,700.00Salaries and Wages Payable (f) 4,900.00 4,900.00Unearned Rent 2,100.00 (g) 1,300.00 800.00Sarah Colin, Capital 238,100.00 238,100.00Sarah Colin, Drawing 10,000.00 10,000.00Fees Earned 388,700.00 (a) 12,500.00…
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