I just need the right amount of the following letters A to F. TNTO 175% |11:26SMART Prepaid l l §fileProblem #4Worksheet PreparationThe May 31, 2019 trial balance for Rosalina Besario Surveyors is presented as follows:Rosalina Besario SurveyorsTrial BalanceMay 31, 2019CashP 210,000Accounts Receivable930,000Prepaid AdvertisingEngineering SuppliesSurvey EquipmentAccum. Depreciation-Survey Equipt.Accounts PayableUnearned Survey RevenuesNotes PayableBesario, Capital360,000270,0001,890,000P 640,000190,000120,000500,0001,120,000Besario, Withdrawals700,000Survey RevenuesSalaries ExpenseRent Expense6,510,0003,270,000960,000Insurance ExpenseUtilities ExpenseMiscellaneous Expense250,000160,00080,000TotalsP9,080,000P9,080,000The following information pertaining to the year-end adjustments is available:a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2018 formonthly advertising over the next 18 months.A count of the engineering supplies at May 31, 2019 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.Required:1. Journalize the adjustments.2. Prepare and complete the worksheet.3. Prepare the financial statements.

Adjusting entries are the journal entries to adjust the expense and revenue which are due but not…

The May 31, 2019 trial balance for Rosalina Besario Surveyors is presented as follows: Rosalina Besario Surveyors Trial Balance May 31, 2019 P 210,000 930,000 360,000 Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Besario, Capital Besario, Withdrawals 270,000 1,890,000 P 640,000 190,000 120,000 500,000 1,120,000 700,000 Survey Revenues Salaries Expense 6,510,000 3,270,000 Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense 960,000 250,000 160,000 80,000 P9,080,000 P9,080,000 Totals The following information pertaining to the year-end adjustments is available: a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2018 for monthly advertising over the next 18 months. b. A count of the engineering supplies at May 31, 2019 amounted to P90,000. . 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. . Interest of P60,000 on the notes payable has accrued at year-end.

The May 31, 2019 trial balance for Rosalina Besario Surveyors is presented as follows: Rosalina Besario Surveyors Trial Balance May 31, 2019 P 210,000 930,000 360,000 Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Besario, Capital Besario, Withdrawals 270,000 1,890,000 P 640,000 190,000 120,000 500,000 1,120,000 700,000 Survey Revenues Salaries Expense 6,510,000 3,270,000 Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense 960,000 250,000 160,000 80,000 P9,080,000 P9,080,000 Totals The following information pertaining to the year-end adjustments is available: a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2018 for monthly advertising over the next 18 months. b. A count of the engineering supplies at May 31, 2019 amounted to P90,000. . 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. . Interest of P60,000 on the notes payable has accrued at year-end.

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter27: Lean Principles, Lean Accounting, And Activity Analysis

Section: Chapter Questions

Problem 27.22EX

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Investment reporting Teasdale Inc. manufactures and sells commercial and residential security equipment. The comparative unclassified balance sheets for December 31, Year 2 and Year 1 are provided below. Selected missing balances are shown by letters. Teasdale Inc. Balance Sheet December 31, Year 2 and Year 1 Dec. 31, Year 2 Dec. 31, Year 1 Cash 160,000 156,000 Accounts receivable (net) 11S.OOO 108,000 Available for-sale investments (at cost)Note 1 a. 91,200 Plus valuation allowance for available-for-sale investments b. 8,776 Available for-sale investments (fair value) c 99,976 Interest receivable d. Investment in Wright Co. stockNote 2 e. 69,200 Office equipment (net) 96,000 105,000 Total assets f. 5538,176 Accounts payable 91,000 72,000 Common stock 80,000 80,000 Excess of issue price over par 250,000 250,000 Retained earnings g 127,400 Unrealized gain (loss) on available for-sale investments h. 8,776 Total liabilities and stockholders' equity S i. 5538,176 Note 1. Investments are classified as available for sale. The investments at cost and fair value on December 31, Year 1, are as follows: No. of Shares Cost per Share Total Cost Total Fair Value Alvarez Inc stock 960 38,00 36,480 39,936 Hirsch Inc. stock 1,900 28,80 4,720 60,040 91,200 99,976 Note 2. The Investment in Wright Co. stack is an equity method investment representing 30% of the outstanding shares of Wright Co. The following selected investment transactions occurred during Year 2: Mar. 18. Purchased 800 shares of Richter Inc. at 40, including brokerage commission. Richter is classified as an available-for-sale security. July 12. Dividends of 12,000 art: received on the Wright Co. investment. Oct 1. Purchased 24,000 of Toon Co. 4%, 10-year bonds at 100. the bonds are classified as available for sale. The bonds pay interest on October 1 and April 1. December 31. Wright Co. reported a total net income of 80,000 for Year 2. Teasdale recorder equity earnings for its share of Wright Co. net income. 31. Accrued interest for three months on the Toon Co. bonds purchased on October 1. 31. Adjusted the available-for-sale investment portfolio to fair value, using the following fair value per-share amounts: Available for Sale Investments Fair Value Alvarez Inc. stock 41,50 per share Hirsch Inc stock 26,00 per share Richter Inc. stock 48,00 per share Toon Co. bonds 101 per 100 of face amount 31. Closed the Teasdale Inc. net income of 51,240. Teasdale Int. paid no dividends during the year. Instructions Determine the missing letters in the unclassified balance sheet. Provide appropriate supporting calculations.
Serial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. For Three MonthsEnded December 31, 2019 For Three MonthsEnded March 31, 2020 Office equipment $ 8,100 $ 8,100 Accumulated depreciation—Office equipment 405 810 Computer equipment 20,000 20,000 Accumulated depreciation—Computer equipment 1,250 2,500 Total revenue 31,334 44,900 Total assets 83,360 121,668 Required:1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense—Office equipment and for Depreciation expense—Computer equipment (assume use of the straight-line method).2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020?3. Compute the three-month total asset turnover for Business…
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Ex5.19From the following accounts (not in order), prepare a post-closing trial balance for Winter Co. onOctober 31, 201X. Note: These balances are before closing.Accounts Receivable $19,950P. Winter, Capital $45,300Legal Supplies 9,700P. Winter, Withdrawals 3,000Office Equipment 54,400Legal Fees Earned 28,000Repair Expense 2,700Accounts Payable 48,000Salaries Expense 1,550Cash 30,000Adjustment Dataa. Insurance expired, $100.b. Dance supplies on hand, $1,100.c. Depreciation on dance equipment, $2,000.d. Salaries earned by employees but not to be paid until October, $1,000.Your task is to do the following:1. Prepare a worksheet.2. Journalize adjusting and closing entries.
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