The adjusted trial balances of Vivian Asacta Wedding Planner as at Dec. 31, 2021, and Problem #11 Analyzing Accounts The adjusted trial balances of Vivian Asacta Wedding Planner as at Dec. 31, 2021, ame Nov. 30, 2021, include these amounts: Dec. 31, 2021 P 21,000 31,000 Nov. 30, 2021 P 15,000 Supplies Salaries Payable 37,000 Unearned Service Revenues 142,000 163,000 Analysis of the accounts revealed these transactions for December: Supplies purchased Salaries paid Cash received in advance for service revenues P 84,000 846,000 1,800,200 Required: Compute the amount of Supplies Expense, Salaries Expense, and Service Revenues to E reported on the Dec. 2021 income statement.
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- Customer Deposits Wolfe $ Wolfe collected $9,000 from a customer on April 1 and agreed to provide legal services during the next three months. Wolfe $ Wolfe expects to provide an equal amount of services each month. Required Prepare the journal entry for the receipt of the customer deposit on April 1. Prepare the adjusting entry on April 30. What will be the effect on net income for April if the entry in (2) is not recorded?Marked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31Problem #12Preparing a Trial BalanceThe ledger of Daria Tolentino Advertising and Publicity contained the following account balances as at Oct. 31, 2021: Cash P 160,000Accounts Receivable 426,000Prepaid Insurance 36,000Equipment 524,000Accounts Payable 245,000Tolentino, Capital 765,000Tolentino, Withdrawals 562,000Advertising Revenues 964,000Public Relations Revenues 425,000Salaries Expense 520,000Rent Expense 90,000Supplies Expense 40,000Utilities Expense 24,000Miscellaneous Expense 17,000 Required:Prepare a trial balance.
- Required information Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019. Exercise 5-19 (Algo) Part c c. Calculate the amount of prepaid insurance that should be reported on the December 31, 2019, balance sheet with respect to this policy.Required information Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019. Exercise 5-19 (Algo) Part b (2) b-2. Prepare the adjusting entry that will be made at the end of every month to show the amount of insurance premium "used" that month. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)Required information Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019. Exercise 5-19 (Algo) Part b (1) b-1. Use the horizontal model to show the amount of insurance premium "used" that month. (Use amounts with + for increases and amounts with – for decreases.)
- Required information Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019. Exercise 5-19 (Algo) Part d d. If the premium had been $8,880 for a two-year period, how should the prepaid amount at December 31, 2019, be reported on the balance sheet?Problem #10 Transactions in a Completed Worksheet Nine transactions are reflected in the October transaction worksheet of the Teresit Galang Financial Planner presented below: Teresita Galang Financial Planner Financial Transaction Worksheet Month of October 2021 OE Galang, Capital Cash Accounts Supplies Office Accounts + Receivable Equipment Payable P 15,000 7,000 (5,000) Bal. P 17,500 P 4,500 P 153,000 P 60,000 P 130,000 %3D 1 n (7,000) 5,000 3 25,000 25,000 24,500 24,500 (16,000) 5 16,000 (6,500) 3,700 6. (6,500) %3D 3,700 8 %3D (2,500) (5,000) P 3,000 9. (2,500) (5,000) P 131,000 P 35,000 P 13,200 P 178,000 P 98,200 %3D P 229,200 P 229,200 Required: 1. Describe each of the above transactions. The last transaction is the only transaction affecting the capital account that does not affect profit. 2. What was the change in the Cash account for the month? In Galang, Capital?Tesla Worksheet for Mortage # Date Monthly Payment Principal Interest Current Balance Current Interest Jan. 1 2023 500,000 5% 1 Jan. 31, 2023 $2,684.11 $600.77 $2,083.33 $499,399.23 2 Feb. 28, 2023 $1,388.89 $603.28 $785.61 $498,795.95 3 Mar. 31, 2023 $1,388.89 $605.79 $783.10 $498,190.16 4 Apr. 30, 2023 $1,388.89 $608.32 $780.57 $497,581.84 5 May 31, 2023 $1,388.89 $610.85 $778.04 $496,970.99 6 Jun. 30, 2023 $1,388.89 $613.40 $775.49 $496,357.59 7 Jul. 31, 2023 $1,388.89 $615.95 $772.94 $495,741.64 8 Aug. 31, 2023 $1,388.89 $618.52 $770.37 $495,123.12 9 Sept. 30, 2023 $1,388.89 $621.10 $767.79 $494,502.03 10 Oct. 31, 2023 $1,388.89 $623.68 $765.21 $493,878.35 11 Nov. 30, 2023 $1,388.89 $626.28 $762.61 $493,252.06 12 Dec. 31, 2023 $1,388.89 $628.89 $760.00 $492,623.17 Tesla has a manufacturing building that they paid $500,000 on December 31, 2022. To pay…
- Exercise 4. Selected account balance before adjustments for Kiss Me Again Company on December 31, 2020 are as follows: Debit CreditAccounts Receivable P84,625Supplies 11,375Equipment 215,000Module 4 10- NABAccumulated Depreciation P34,450Wages payable 0Unearned fees 23,500Fees earned 348,975Wages expense 79,700Rent expense 48,000Depreciation Expense 0Supplies expense 0The data needed for year-end adjustments are as follows:a. Fees earned but not yet collected on December 31, P31,575.b. Supplies on hand on December 31, P2,785c. Rent expired during the year, P36,000d. Depreciation for equipment during the year, P5,000e. Wages accrued but unpaid on December 31, P13,800f. Accounts receivable of P10,000 is doubtful of being collected.Date Description PR Debit CreditACC 122 Fall 2020Comprehensive ProjectBestValue Corporation's Trial Balance at December 31, 20XX is presented below.All 20XX transactions have been recorded except for the items described on the next page.Debit CreditCash $ 109,890Accounts Receivable 28,789Inventory 25,540Debt Investments 0Land 55,674Buildings 215,850Equipment 75,120Allowance for Doubtful Accounts $ 1,027Accumulated Depreciation-Buildings 63,306Accumulated Depreciation-Equipment 16,048Accounts Payable 35,278Interest Payable 0Unearned Rent Revenue 48,900Dividends Payable 0Income Tax Payable 0Bonds Payable 0Discount on Bonds Payable 0Common Stock ($2 par) 29,200Paid in Capital in Excess of Par-Common Stock 44,580Preferred Stock ($60 par) 0Paid in Capital in Excess of Par-Preferred Stock 0Retained Earnings 107,904Treasury Stock 0Cash Dividends 0Sales Revenue 776,068Rent Revenue 0Gain on Sale of Land 0Bad Debt Expense 0Interest Expense 0Cost of Goods Sold 478,542Depreciation Expense 0Other Operating Expenses 53,274Salaries…Part BRequired6. Prepare journal entries to record each of the following November transactions.7. Post the November entries.8. Prepare a trial balance at November 30, 2020.9. Prepare an income statement and a statement of changes in equity for the two months endedNovember 30. 2020. as well as a balance sheet at Novembe 30. 2020.Nov. 1 Reimbursed Aster Turane's business automobile expense for 2,630kilometres at $1.60 per kilometre.2 Received $7,920 cash from Langara Lodge for computer services rendered.5 Purchased $420 of computer supplies for cash from Triple-One Supplies.8 Billed Dinwoody Entertainment $4,230 for computer services rendered.13 Notified by Kinsetta Groceries that Aster's bid of $5,950 for anupcoming project was accepted.18 Received $4,200 from Whistler Resort against the bill dated October 28.22 Donated $500 to the Hope Mission in the company's name.24 Completed work for Kinsetta Groceries and sent a bill for the agreed amount.25 Sent another bill to Whistler Resort for…