Accounting a. Provide the journal entry to record the collection on May6. On August 1, 20x1, Entity C paid one-year insurance ofb. Provide the adjusting entries on December 31, 20xl undera. Provide the journal entry to record the prepayment onAugust 1, 20xl under each of the following methods:b. Provide the adjusting entries on December 31, 20x1 under1, 20x1 under each of the following methods:Splitting of mixed accounts* On May 1, 20x1, Entity B received one-year advanced rent ofP480,000 from one of its tenants. The advanced rent covers themonths of May 1, 20x1 to April 30, 20x2.Requirements:1, 20x1 under each of the following methods:i.Liability methodAll rights belongs to respective authoPlease consider buvina the oricinal266Chaptersii.Income methodeach of the methods listed above.P360,000.Requirements:i.Asset methodii. Expense methodeach of the methods listed above. December 31, 20x1. Of that amount, 5% is doubtful ofOctober 31, 20x1 under each of the following methods:of 20 years. Your business records depreciation only at year-collection and should be expensed. What is the adjusting entryb. Provide the adjusting entries on December 31, 20xl undera. Provide the journal entry to record the prepayment onthe note are due at maturity date. What is the adjusting entryof P4,000. As of December 31, 20x1, the tenant has not yet paidthe rent for the months of November and December. What isthe adjusting entry on December 31, 20x1? v Ven ine "Ve1. Your business received a 14%, P400,000, one-year, note from acustomer on June 1, 20x1. Both the principal and interest on& Your business acquired a building on May 1, 20x1 for a totali Your business has total accounts receivable of 9400,000 as ofYour business uses a calendar year accounting period. The267on December 31, 20x1?10 of P15,000,000. The building has an estimated useful lifend. What is the adjusting entry on December 31, 20x1? HierDuoreciation normally starts from the acquisition date of an asset)- Your business collected royalty* income of 9720,000 inadvance on November 1, 20x1. As of December 31, 20x1,P560,000 of the advanced collection is eamed.UHGARHED IHCOME SE0,0o0Requirements:a. Provide the journal entry to record the collection onNovember 1, 20x1 under each of the following methods:Liability methodIncome method (Hints: "Royalıy income, Uneamed income)i.ii.b. Provide the adjusting entries on December 31, 20x1 undereach of the methods listed above."Royalty income is the income vou earn if you have invented something, wrote aAook, composed a song, made a YouTube video and have it copyrighted, or otheranisi or literary work, and you let another party use/publish/exploit your workenchunge for money. It is like renting out your work to another party.* Your business paid one-vear fire insurance of P360,000 onOctober 31, 20x1.Requirenents:All rights belongs to respective authorPlease consider buving the original c5268ChapterAsset methodi.i.Expense methodeach of the methods listed abovePROBLEM 4: ADJUSTING ENTRIESfollowing were among your transactions during the vchon December 31, 20x1? (Round-off amounts to two decimal placesa2. Your employees earned P46,000 compensation during the lasweek of December 20x1. The salaries were paid on the firsweek of anuamu 20un

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1, 20x1 under each of the following methods: b. Provide the adjusting entries on December 31, 20x1 under a Provide the journal entry to record the collection on May Splitting of mixed accounts 2 On May 1, 20x1, Entity B received one-year advanced rent of P480,000 from one of its tenants. The advanced rent covers the months of May 1, 20x1 to April 30, 20x2. Requirements: 1, 20x1 under each of the following methods: i. Liability method All rights belongs to respective a Please consider buvina the origi Chapters 266 ii. Income method each of the methods listed above.