UNADJUSTED TRIAL BALANCE: Cash ₱179,670.12 Accounts receivable 37,000.00 Tools 12,368.50 Furniture & Fixtures 15,530.00 Office equipment 24,000.00 Repair equipment 57,000.00 Notes payable ₱3,000.00 Accounts payable 49,367.80 Loans Payable 80,000.00 D. Maputin, Capital 152,368.50 D. Maputin,Withdrawals 5,000.00 Repair income 120,370.25 Rental income 2,500.00 Salaries expense 50,328.00 Rent expense 3,800.00 Supplies expense 2,367.80 Light and water expense 9,634.88 Gas and oil expense 3,000.00 Communication expense 2,156.75 Taxes and licenses expense 1,250.50 Advertising expense 4,500.00 Totals ₱407,606.55 ₱407,606.55 The following adjustments to be made on December 31, 200C 1. Unused supplies, Php 367.80 2. One half of the advertising expense is still prepaid 3. Unpaid water, bill Php 995.12 4.Uncollected rental income, Php 2,500 5. Accrued interest on the note payable, Php 20 6. Php 5,000 of the repair income is collected in advance and not yet earned 7. The fixed assets are to be depreciated as follows: Furniture & Fixtures - Php 1,553 Office Equipment 1,200 Repair Equipment 2,350 *REQUIRED: WORKSHEET

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PA: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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UNADJUSTED TRIAL BALANCE:

Cash	₱179,670.12
Accounts receivable	37,000.00
Tools	12,368.50
Furniture & Fixtures	15,530.00
Office equipment	24,000.00
Repair equipment	57,000.00
Notes payable		₱3,000.00
Accounts payable		49,367.80
Loans Payable		80,000.00
D. Maputin, Capital		152,368.50
D. Maputin,Withdrawals	5,000.00
Repair income		120,370.25
Rental income		2,500.00
Salaries expense	50,328.00
Rent expense	3,800.00
Supplies expense	2,367.80
Light and water expense	9,634.88
Gas and oil expense	3,000.00
Communication expense	2,156.75
Taxes and licenses expense	1,250.50
Advertising expense	4,500.00
Totals	₱407,606.55	₱407,606.55

The following adjustments to be made on December 31, 200C

1. Unused supplies, Php 367.80
2. One half of the advertising expense is still prepaid
3. Unpaid water, bill Php 995.12
4.Uncollected rental income, Php 2,500
5. Accrued interest on the note payable, Php 20
6. Php 5,000 of the repair income is collected in advance and not yet earned
7. The fixed assets are to be depreciated as follows: Furniture & Fixtures - Php 1,553 Office Equipment 1,200 Repair Equipment 2,350

*REQUIRED: WORKSHEET

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