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s Restaurant has commenced its operation last January 1, 2023 in Davao City. It  served different variety of Indian foods and other known ASEAN foods. The manager owner, Mr. Nobody Guy needs your expertise in preparing its worksheet as well as its financial statements.   The following information is presented with regard to the year-end adjustments: 1. Supplies on hand at December 31, 2022 are P2,800.00  Insurance premiums expired during the year are P7,200.00  Depreciation of machinery during the year is P21,000.00  Wages accrued but not paid at December 31 are P8,660.00  Catering services already rendered but the payment from client was not yet received,  P29,850.00

s Restaurant has commenced its operation last January 1, 2023 in Davao City. It  served different variety of Indian foods and other known ASEAN foods. The manager owner, Mr. Nobody Guy needs your expertise in preparing its worksheet as well as its financial statements.   The following information is presented with regard to the year-end adjustments: 1. Supplies on hand at December 31, 2022 are P2,800.00  Insurance premiums expired during the year are P7,200.00  Depreciation of machinery during the year is P21,000.00  Wages accrued but not paid at December 31 are P8,660.00  Catering services already rendered but the payment from client was not yet received,  P29,850.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mekus Restaurant has commenced its operation last January 1, 2023 in Davao City. It  served different variety of Indian foods and other known ASEAN foods. The manager owner, Mr. Nobody Guy needs your expertise in preparing its worksheet as well as its financial statements.  

The following information is presented with regard to the year-end adjustments: 1. Supplies on hand at December 31, 2022 are P2,800.00 

  1. Insurance premiums expired during the year are P7,200.00 
  2. Depreciation of machinery during the year is P21,000.00 
  3. Wages accrued but not paid at December 31 are P8,660.00 
  4. Catering services already rendered but the payment from client was not yet received,  P29,850.00
Accounts Cash Supplies Inventory Prepaid Insurance Machinery Acc. Depreciation Accounts payable Mr. Nobody Guy, Capital Mr. Nobody Guy, Drawing Sales Wage Expense Rent Expense Utilities Expense Miscellaneous Expense Supplies expense Insurance expense Depreciation expense Wage payable Accounts receivable Accrued income Unadj Trial Balance Dr Cr 36,800.00 62,800.00 28,800.00 960,000.00 28,000.00 347,200.00 131,200.00 68,000.00 17,200.00 501,600.00 32,800.00 371,600.00 774,000.00 1,680,000.00 1,680,000.00 Mekus Restaurant Worksheet For the period ended December 31, 2022 Adj Trial Balance Adjustments Dr Cr Dr Cr Balance Sheet Dr Cr Income Statement Cr Dr
Transcribed Image Text:Accounts Cash Supplies Inventory Prepaid Insurance Machinery Acc. Depreciation Accounts payable Mr. Nobody Guy, Capital Mr. Nobody Guy, Drawing Sales Wage Expense Rent Expense Utilities Expense Miscellaneous Expense Supplies expense Insurance expense Depreciation expense Wage payable Accounts receivable Accrued income Unadj Trial Balance Dr Cr 36,800.00 62,800.00 28,800.00 960,000.00 28,000.00 347,200.00 131,200.00 68,000.00 17,200.00 501,600.00 32,800.00 371,600.00 774,000.00 1,680,000.00 1,680,000.00 Mekus Restaurant Worksheet For the period ended December 31, 2022 Adj Trial Balance Adjustments Dr Cr Dr Cr Balance Sheet Dr Cr Income Statement Cr Dr
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