4. The Following accounts balances are found in the ledger of Virgil Dry Cleaning on December 31,Licenses and TaxesP 4,00015,0003,5008,00019,70012,500Notes ReceivableOffice ExpenseRent ExpenseOffice EquipmentAccounts Payable - XYZ Co.Accounts Receivable – RegencyHotel9,000Accounts Receivable - MedicalCityAccounts Receivable - City HotelVirgilio Inlayo, capitalVirgilio Inlayo, personalCash on HandCash in Bank7,0005,000327,00030,0005,00050,000200,0001,500Cleaning EquipmentInsurance ExpenseNotes PayableDelivery TruckCleaning Supplies UsedUtilities20,00078,00021,0005,00048,0008,900SalariesGas and Oil ExpenseDry Cleaning Income159,100Required: Create the Trial BalanceCOLLEGE PAMPANGA3. The following are the ledger balances of E.T Co. owner of an apartment building. Prepare atrail balance from these ledger balances:P50,000 P5,000P100AFurniture&25,0002,500Cash EquipmentBuilding 60,0001,1002,55060,000TodisLandP1200AP20000A2,4801,2005,0008,000Advances fromMortgage6,0001,5502,500Payable TenantP20,000P200,000P25,0002,00020,0002,5001,2501,100Rents EarnedDue in ARG Co.P2,000P60,000P12,00060,0005,000Utilities EarmedAdvertisementsP2,5001,250P5,0002,500Garbage ExpenseP1,1001,100General ExpenseP2,550Insurance ExpenseP2,480Interest ExpenseP120ASalaries and WagesP5,0005,000RepairsSuperintendenceSepeties uped Tees ExpenseP2,500P1,550E.T Ca. capitalInstruction:Get the balances of each account and prepare a trial balance for E.T Co.LLEGE

Unadjusted trial balance includes both temporary accounts and permanent accounts. All expenses,…

4. The Following accounts balances are found in the ledger of Virgil Dry Cleaning on December 31, 200_- P 4,000 15,000 3,500 8,000 19,700 12,500 Licenses and Taxes Notes Receivable Office Expense Rent Expense Office Equipment Accounts Payable - XYZ Co. Accounts Receivable – Regency Hotel TY COLLE 9,000 Accounts Receivable - Medical City Accounts Receivable - City Hotel Virgilio Inlayo, capital Virgilio Inlayo, personal Cash on Hand Cash in Bank Cleaning Equipment Insurance Expense Notes Payable Delivery Truck Cleaning Supplies Used 7,000 5,000 327,000 30,000 5,000 50,000 200,000 1,500 20,000 78,000 21,000 5,000 48,000 8,900 159,100 Utilities Salaries Gas and Oil Expense Dry Cleaning Income Required: Create the Trial Balance

4. The Following accounts balances are found in the ledger of Virgil Dry Cleaning on December 31, 200_- P 4,000 15,000 3,500 8,000 19,700 12,500 Licenses and Taxes Notes Receivable Office Expense Rent Expense Office Equipment Accounts Payable - XYZ Co. Accounts Receivable – Regency Hotel TY COLLE 9,000 Accounts Receivable - Medical City Accounts Receivable - City Hotel Virgilio Inlayo, capital Virgilio Inlayo, personal Cash on Hand Cash in Bank Cleaning Equipment Insurance Expense Notes Payable Delivery Truck Cleaning Supplies Used 7,000 5,000 327,000 30,000 5,000 50,000 200,000 1,500 20,000 78,000 21,000 5,000 48,000 8,900 159,100 Utilities Salaries Gas and Oil Expense Dry Cleaning Income Required: Create the Trial Balance

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.4MBA

See similar textbooks

Similar questions

On August 1, 2020, the business accounts of Peter and Senen appear below:Assets Peter SenenCash P11,000 P22,354Accounts receivable 84,536 217,890Inventories 100,035 240,102Land 603,000 428,267Buildings 200,345 384,789Other Assets 22,000 23,600Total P1,020,916 P1,317,002Liabilities and CapitalAccounts payable P178,940 P243,650Notes payable 200,000 345,000Peter, Capital 641,976Senen, Capital 728,352Total P1,020,916 P1,317,002Peter and Senen agreed to form a partnership contributing their respective assets and liabilitiessubject to the following adjustments:Accounts receivable of P20,000 and P35,000 are uncollectible in Peter and Senen’s respectivebooks.Inventories of P5,500 and P6,700 are worthless in Peter and Senen’s respective booksOther Assets of P2,200 and P3,600 in Peter and Senen’s books are written off.After five days Ethel was offered to join Peter and Senen and will contribute for a 20% interestin the firm. They also agreed to divide profits and losses in the ratio of 4:4:2…
Hi, I need help assembling the following journal entries. Thank you.
help me please
If a business has the following balances, what would be the amount of total liabilities?ASSETSCash $ 5000Accounts Receivable 2575Equipment 14000OWNER'S EQUITYAnne Miller, Capital 2600
Given below is AU Chiefs Company’s financial statements. Compute for the financial rations and showthe solutions in a sheet of paper.1. Expenses to sale ratio2. Return on assets3. Return on Equity4. Asset Turnover ratio 2020 2019 Cash 122,500 104,700 Accounts Receivable 90,650 80,550 Inventory 66,200 53,000 Prepaid Expense 85,450 106,000 Total Current Assets 364,800 344,250 Property, Plant and Equipment 925,000 786,350 TOTAL ASSETS 1,654,600 1,475,350 Total Current Liability 381,500 423,350 Long-term Liabilities 359,900 230,600 Mabini, Capital 913,200 821,400 Total Liability and Equity 1,654,600 1,475,350 Sales 1,047,050 1,151,755 Cost of Sales 322,750 355,025 Gross Profit 724,300 796,730 Selling Expenses 353,250 388,575 Administrative Expenses 128,150 140,965 Operating Income 242,900 267,190 Interest Income…
https://thevoiceslu.com/2020/10/massy-waterfront-gutted-by-fire/?fbclid=IwAR1BoNgDi0OJmqeG5Po8Mo8xYwV9DFVc42OPhtn5HRY2gRK6nB8HIAwwufw
Skysong, Inc. had the following accounts and balances: Accounts payable $31100 Equipment $35300 Accounts receivable 4500 Land 35400 Buildings ? Unearned service revenue 10500 Cash 15450 Total stockholders' equity ? If the balance of the Buildings account was $83000, what would be the total of liabilities and stockholders' equity? $173650 $121550 $169150 $132050
Prepare the journal entry required for each transaction.
A book keeper recorded the purchase of office supplies on accounts as follows: Dr. Supplies expense 34000 Cr. Accounts receivable 34000 How much are total assets over or under stated? show workings
Please help me with show all calculation thanku
Make a Ledger in this problem Assume that on December 2, 2020. Mr. David Started DB Accounting Firm in Tagbina with the following assets as initial investments: PARTICULARS Cash 15,000 Computers 40,000 Furniture 50,000 Supplies 10,000 December 02 The business was registered with DTI, BIR, and Mayor’s permit spending P300, P500, and P1,200, respectively. 05 Acquired printer amounting to P10,000 for cash 15 Received electricity bill used by the business, P600. 15 Acquired computer chairs and tables on account, P10,000 payable within five days 20 Issued 3 months promissory note amounting to 10,000 to settle the obligation for acquiring computer chairs 21 Mr. David withdrew P1,000 for personal use. 23 Used supplies amounting to 8,000 26 Collected P50,000 for audit service to client 28 Billed P80,000 to the client for tax consultancy performed. 29 Transportation expense incurred and paid, P2,000 30 Provided 10% allowance for depreciation for the use of office equipment and…
What is total asstst, Liabilities and owners equity? Show Solutions.