a. A review of insurance policies showed that P6,800 is unexpired at the year-end. b. An inventory of cleaning supplies showed P12,440 on hand. C. Estimated depreciation on the building for the year is P128,000. d. Accrued interest on the mortgage payable is P10,000. e. On Sept. 1, the entity signed a contract, effective immediately, with Davao City Hospital to dry clean, for a fixed monthly charge of P4,000, the uniforms used by doctors in surgery. The hospital paid for four months' service in advance. Salaries are paid on Saturdays. The weekly payroll is P25,200. Assume that Sept. 30 falls on a Thursday and the entity has a six-day pay week.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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adjustment (using a + or - to indicate an increase or decrease), and the balance of the
For each of the above situations, show the accounts affected, the amount of the
TNT
all all a
5.4
64 4:08
GLOBE
K/s
Edit
88
50
Problem #11
Determining Adjustments
de trial balance for Rosalie Balhag Cleaners appears as follows:
Rosalie Balhag Cleaners
Trial Balance
Sept. 30, 2019
Cash
P 117,880
Accounts Receivable
264,940
Prepaid Insurance
Cleaning Supplies
Land
34,000
73,740
180,000
1,850,000
Building
Accumulated Depreciation-Building
Accounts Payable
Unearned Cleaning Revenues
Mortgage Payable
Balhag, Capital
Balhag, Withdrawals
Cleaning Revenues
Salaries Expense
Cleaning Equipment Rental Expense
Delivery Truck Expense
P 456,000
204,000
16,000
1,100,000
565,600
100,000
1,576,340
1,013,300
60,000
43,740
Interest Expense
110,000
Other Expenses
70,340
P3,917,940
P3,917,940
The following information is also available:
a. A review of insurance policies showed that P6,800 is unexpired at the year-end.
b. An inventory of cleaning supplies showed P12,440 on hand.
C. Estimated depreciation on the building for the year is P128,000.
d. Accrued interest on the mortgage payable is P10,000.
e. On Sept. 1, the entity signed a contract, effective immediately, with Davao City
Hospital to dry clean, for a fixed monthly charge of P4,000, the uniforms used by
doctors in surgery. The hospital paid for four months' service in advance.
- Salaries are paid on Saturdays. The weekly payroll is P25,200. Assume that Sept. 30
falls on a Thursday and the entity has a six-day pay week.
Required:
adach of the above situations, show the accounts affected, the amount of the
justment (using a + or - to indicate an increase or decrease), and the balance of the
account after the adjustment.
Problem #12
Preparing Adjusting Entries and an Adjusted Trial Balance
Presented below, together with account numbers, is the unadjusted trial balance
Madelyn Rialubin Travel Agency for the year ended Dec. 31, 2019:
Madelyn Rialubin Travel Agency
Unadjusted Trial Balance
Dec. 31, 2019
110
Cash
P 126,000
645,000
120
Accounts Receivable
Prepaid Rent
Office Supplies
130
360,000
140
63.000
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DO
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Transcribed Image Text:adjustment (using a + or - to indicate an increase or decrease), and the balance of the For each of the above situations, show the accounts affected, the amount of the TNT all all a 5.4 64 4:08 GLOBE K/s Edit 88 50 Problem #11 Determining Adjustments de trial balance for Rosalie Balhag Cleaners appears as follows: Rosalie Balhag Cleaners Trial Balance Sept. 30, 2019 Cash P 117,880 Accounts Receivable 264,940 Prepaid Insurance Cleaning Supplies Land 34,000 73,740 180,000 1,850,000 Building Accumulated Depreciation-Building Accounts Payable Unearned Cleaning Revenues Mortgage Payable Balhag, Capital Balhag, Withdrawals Cleaning Revenues Salaries Expense Cleaning Equipment Rental Expense Delivery Truck Expense P 456,000 204,000 16,000 1,100,000 565,600 100,000 1,576,340 1,013,300 60,000 43,740 Interest Expense 110,000 Other Expenses 70,340 P3,917,940 P3,917,940 The following information is also available: a. A review of insurance policies showed that P6,800 is unexpired at the year-end. b. An inventory of cleaning supplies showed P12,440 on hand. C. Estimated depreciation on the building for the year is P128,000. d. Accrued interest on the mortgage payable is P10,000. e. On Sept. 1, the entity signed a contract, effective immediately, with Davao City Hospital to dry clean, for a fixed monthly charge of P4,000, the uniforms used by doctors in surgery. The hospital paid for four months' service in advance. - Salaries are paid on Saturdays. The weekly payroll is P25,200. Assume that Sept. 30 falls on a Thursday and the entity has a six-day pay week. Required: adach of the above situations, show the accounts affected, the amount of the justment (using a + or - to indicate an increase or decrease), and the balance of the account after the adjustment. Problem #12 Preparing Adjusting Entries and an Adjusted Trial Balance Presented below, together with account numbers, is the unadjusted trial balance Madelyn Rialubin Travel Agency for the year ended Dec. 31, 2019: Madelyn Rialubin Travel Agency Unadjusted Trial Balance Dec. 31, 2019 110 Cash P 126,000 645,000 120 Accounts Receivable Prepaid Rent Office Supplies 130 360,000 140 63.000 DO DO Tools Mobile View Share PDF to DOC Edit on PC
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