B COMPANY Worksheet For the year ended December 31, 2020 Account titles Trial Balance Dr Cr Cash P2,320,000 Accounts receivable 2,440,000 Supplies Accounts payable Unearned revenue 1,880,000 P1,120,000 240,000 B, Capital Service revenue 3,600,000 2,400,000 Salaries expense Miscellaneous expense 560,000 160.000

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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Prepare a classified Statement of Financial Position, according to liquidity of the accounts.

B. The trial balance columns of the worksheet for B Company at December 31, 2020, are as
follows:
В СОМРANY
Worksheet
For the year ended December 31, 2020
Account titles
Trial Balance
Dr
Cr
Cash
P2,320,000
Accounts receivable
2,440,000
Supplies
Accounts payable
1,880,000
P1,120,000
Unearned revenue
240,000
В, Саpital
3,600,000
Service revenue
2,400,000
Salaries expense
Miscellaneous expense
560,000
160,000
P7,360,000 P7,360,000
Other data:
1. A physical count reveals P300,000 of supplies on hand.
2. P100,000 of the unearned revenue is still unearned at year-end.
3. Accrued salaries are at P280,000
Transcribed Image Text:B. The trial balance columns of the worksheet for B Company at December 31, 2020, are as follows: В СОМРANY Worksheet For the year ended December 31, 2020 Account titles Trial Balance Dr Cr Cash P2,320,000 Accounts receivable 2,440,000 Supplies Accounts payable 1,880,000 P1,120,000 Unearned revenue 240,000 В, Саpital 3,600,000 Service revenue 2,400,000 Salaries expense Miscellaneous expense 560,000 160,000 P7,360,000 P7,360,000 Other data: 1. A physical count reveals P300,000 of supplies on hand. 2. P100,000 of the unearned revenue is still unearned at year-end. 3. Accrued salaries are at P280,000
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