Ash Traynor opened a Pokèmon dress shop called Pokėshoppe. During the first month of operations, the followingtransactions were completed. The following account titles are strictly to be used.Accounts PayableUtilities ExpenseUnused SuppliesPrepaid RentSewing EquipmentCashTraynor, CapitalTraynor, DrawingsPermits and LicensesAccounts ReceivableAdvances to EmployeesSalaries ExpenseShop ToolsService IncomeRepairs and MaintenanceFurniture and Fixtureso b inib i to2015Traynor invested the following in the dress shop: Cash, P30,000, a sewing machine appraised atP18,000, shop furniture appraised at P15,000, shop tools appraised at P7,500, an unused suppliesworth P2,500.Paid P18,000 as rent for the leased space for three months.Bought for cash: additional shop tools for P2,500 and supplies for P1,800.Bought from Kakuna Japan Surplus a second hand sewing machine for P6,000. Term: 20 days.Traynor increased her investment by putting in additional cash of P15,000.Delivered the order of Misty Lavahlavah, a customer. Billing price, PS,000.Paid the shop assistant for the one week salary, P3,600.Cash service income for the week P15,500.Collected in full the account of Misty LavahLavah.Paid for the share of the business on the electric and telephone bills, P2,700.14 Paid the Town Treasurer PS50 for the permits and licenses.Feb.235610111214Purchased additional shop supplies (buttons, zippers, Velcro, pins, needles, thread, and other sewingaccessories), for cash, P1,500.1617 Paid the shop assistant for the one week salary, P3,600.Cash service income for the week, P13,5o0.Billed Brock Enroll, a customer, for delivered orders, P2,300.Paid PS40 for the repairs and maintenance of the sewing machines.ano18b 192022 Rework was done on the dress of Brock Enroll, Term: free.t t i22Collected in full the account of Brock Enroll.Dawn E. Labadabango, a customer, made an advance payment of P18,000 for various dresses to bedelivered until the following month. Credited to Service Income.22i a ai re llo ot ougo mvib w dw lve lanir.Paid the shop assistant for the one week salary, P3,600.Cash service income for the week, P8,700.25 Paid Kakuna Japan Surplus in full.242526Give the shop assistant a short-term loan of P2,000. Term: 30 days.27Traynor brought home some shop supplies worth P1,300, for her personal use.28 Bought additional furniture worth P6,500 from TeamRocket Depot. Term: 30 days.Billings for newly delivered orders: Brock Enroll for P3,000, Misty LavahLavah for P1,600.28Additional information as of February 28, 2015 are as follows:Out of the balance of the shop tools account, 70% is to be treated as an expense.b. Depreciations of Sewing Equipment, with an estimated useful ife of 5 years and no residual value, andFurniture and Fixtures, with an estimated useful life of 5 years and no residual value, are computed with theuse of the straight line method. For the purpose of computing for the depreciation, the business decided toadopt the following policy: fixed assets acquired n the first half of the month (February 1-14) are depreciatedfor a full month; fixed assets acquired in the second half of the month are depreciated beginning the followinga.month.Accrued expenses at the end of the month:Utilities, P2,700Salaries, P3,60od. Prepaid expenses at the end of the period.Rent, ?Half of the dresses ordered by Dawn E. Labadabango were already delivered.Supplies, P2,100e.Income earned but not yet collected, P3,700.e. 5% of the unadjusted balance of accounts receivable is doubtfulcollection.Required:1. Prepare the necessary adjusting entries2. Prepare a 10-column worksheet

Accounting worksheet - is a columnar table that includes 5 columns and is represented as a summary…

Ash Traynor opened a Pokèmon dress shop called PokèShoppe. During the first month of operations, the following transactions were completed. The following account titles are strictly to be used. Cash Accounts Receivable Advances to Employees Shop Tools 3 5 6 8 Unused Supplies Prepaid Rent Sewing Equipment Furniture and Fixtures 2015 Feb. 2 Traynor invested the following in the dress shop: Cash, P30,000, a sewing machine appraised at P18,000, shop furniture appraised at P15,000, shop tools appraised at P7,500, an unused supplies worth P2,500. Paid P18,000 as rent for the leased space for three months. Bought for cash: additional shop tools for P2,500 and supplies for P1,800. Bought from Kakuna Japan Surplus a second hand sewing machine for P6,000. Term: 20 days. Traynor increased her investment by putting in additional cash of P15,000. Delivered the order of Misty LavahLavah, a customer. Billing price, P5,000. 9 10 Paid the shop assistant for the one week salary, P3,600. 11 Cash service income for the week P15,500. EN ANN2 Accounts Payable Traynor, Capital Traynor, Drawings Service Income 12 Collected in full the account of Misty LavahLavah. 14 Paid for the share of the business on the electric and telephone bills, P2,700. 14 Paid the Town Treasurer P550 for the permits and licenses. WA 16 Purchased additional shop supplies (buttons, zippers, Velcro, pins, needles, thread, and other sewing accessories), for cash, P1,500. Paid the shop assistant for the one week salary, P3,600. Cash service income for the week, P13,500. 17 18 19 Billed Brock Enroll, a customer, for delivered orders, P2,300. 20 Paid P540 for the repairs and maintenance of the sewing machines. 22 Rework was done on the dress of Brock Enroll, Term: free. 22 Collected in full the account of Brock Enroll. Utilities Expense Permits and Licenses Salaries Expense Repairs and Maintenance 22 Dawn E. Labadabango, a customer, made an advance payment of P18,000 for various dresses to be delivered until the following month. Credited to Service Income. 24 Paid the shop assistant for the one week salary, P3,600. 25 Cash service income for the week, P8,700. 25 Paid Kakuna Japan Surplus in full. 26 Give the shop assistant a short-term loan of P2,000. Term: 30 days. 27 Traynor brought home some shop supplies worth P1,300, for her personal use. 28 Bought additional furniture worth P6,500 from TeamRocket Depot. Term: 30 days. 28 Billings for newly delivered orders: Brock Enroll for P3,000, Misty LavahLavah for P1,600. C. Accrued expenses at the end of the month: Salaries, P3,600 d. Prepaid expenses at the end of the period. Additional information as of February 28, 2015 are as follows: a. Out of the balance of the shop tools account, 70% is to be treated as an expense. b. Depreciations of Sewing Equipment, with an estimated useful life of 5 years and no residual value, and Furniture and Fixtures, with an estimated useful life of 5 years and no residual value, are computed with the use of the straight line method. For the purpose of computing for the depreciation, the business decided to adopt the following policy: fixed assets acquired in the first half of the month (February 1-14) are depreciated for a full month; fixed assets acquired in the second half of the month are depreciated beginning the following month. Utilities, P2,700 Rent, ? Supplies, P2,100 e. Half of the dresses ordered by Dawn E. Labadabango were already delivered. Income earned but not yet collected, P3,700. f. E5% of the unadjusted balance of accounts receivable is doubtful of collection. Required: 1. Prepare the necessary adjusting entries 2. Prepare a 10-column worksheet