Instruction:1. Prepare adjusting entries.2. Complete the 10-column worksheet.3. Prepare Financial Statement: Balance Sheet, Income Statement and Statement of Changes in Owner's Equity. Chapter 88-4Cajegas Trucking ServicesTrial Balancena hasJune 30, 208DebitCreditCash in BankP 1,020,000Petty Cash FundAccounts ReceivableEst. Uncollectible AccountUnused SuppliesPrepaid InsurancePrepaid RentDelivery TruckAcc. Depreciation-Delivery TruckAccounts PayableP. Cajegas, CapitalP. Cajegas, DrawingTrucking IncomeTaxes & LicensesCanh in Btay CaAVountEmatePepaihpaid1,000120,000P.1,20015,0008,50030,0001,500,000Operat250,000130,0001,818,500Arc. DAumit50,000ne935,000Note10,0000.TD.TRepairs & MaintenanceRetainer Fees27,000Salaries & WagesUtilities Expense25,000320,0008,200P 3,134,700TotalP 3,134,700Additional Information1.Provision for Uncollectible Account should be at 2% of the outstandreceivable account.2.Supplies actually on hand, P5,000.3.Of the Prepaid Insurance, P6,200 has actually expired.4.P18,000 of the prepaid rental has expired.5.Depreciation expense for the period is P105,000.Required:a) An 8-column worksheetb) Balance Sheetc) Income Statementd) Statement of Changes in Owner's Equity338Pension

Name: Instruction:1. Prepare adjusting entries.2. Complete the 10-column wor
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Description: Instruction:1. Prepare adjusting entries.2. Complete the 10-column worksheet.3. Prepare Financial Statement: Balance Sheet, Income Statement and Statement of Changes in Owner's Equity. Chapter 88-4Cajegas Trucking ServicesTrial Balancena hasJune 30,

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Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund Accounts Receivable Est. Uncollectible Account Unused Supplies Prepaid Insurance Prepaid Rent Delivery Truck Acc. Depreciation-Delivery Truck Accounts Payable P. Cajegas, Capital P. Cajegas, Drawing Trucking Income Taxes & Licenses P1,020,000 1,000 120,000 Cah n 8 y Ca Acount bomate Pepaid epaid pera Buldin Ac D Furmit Acc P. 1,200 15,000 8,500 30,000 1,500,000 250,000 130,000 1,818,500 50,000 Enen 935,000 Note 10,000 Repairs & Maintenance Retainer Fees 27,000 25,000 320,000 8,200 P 3,134,700 Salaries & Wages Hot Utilities Expense Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstan receivable account. 2. Supplies actually on hand, PS,000. 3. Of the Prepaid Insurance, P6,200 has actually expired. 4. P18,000 of the prepaid rental has expired. 5. Depreciation expense for the period is P105,000. Required: a) An 8-column worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity

Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund Accounts Receivable Est. Uncollectible Account Unused Supplies Prepaid Insurance Prepaid Rent Delivery Truck Acc. Depreciation-Delivery Truck Accounts Payable P. Cajegas, Capital P. Cajegas, Drawing Trucking Income Taxes & Licenses P1,020,000 1,000 120,000 Cah n 8 y Ca Acount bomate Pepaid epaid pera Buldin Ac D Furmit Acc P. 1,200 15,000 8,500 30,000 1,500,000 250,000 130,000 1,818,500 50,000 Enen 935,000 Note 10,000 Repairs & Maintenance Retainer Fees 27,000 25,000 320,000 8,200 P 3,134,700 Salaries & Wages Hot Utilities Expense Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstan receivable account. 2. Supplies actually on hand, PS,000. 3. Of the Prepaid Insurance, P6,200 has actually expired. 4. P18,000 of the prepaid rental has expired. 5. Depreciation expense for the period is P105,000. Required: a) An 8-column worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...

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Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT
Cajegas Trucking ServicesTrial BalanceJune 30, 2021Debit CreditCash in Bank P 1,020,000Petty Cash Fund 1,000Accounts Receivable 120,000Est. Uncollectible Account P 1,200Unused Supplies 15,000Prepaid Insurance 8,500Prepaid Rent 30,000Delivery Truck 1,500,000Acc. Depreciation – Delivery Truck 250,000Accounts Payable 130,000P. Cagejas, Capital 1,818,500P. Cagejas, Drawings 50,000Trucking Income 935,000Taxes and Licences 10,000Repairs and Maintenance 27,000Retainer Fees 25,000Salaries and Wages 320,000Utilities Expense 8,200Total P 3,134,700 P 3,134,700Additional Information1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account.2. Supplies actually on hand, P5,000.3. Of the Prepaid Insurance, P6,200 has actually expired.4. P18,000 of the Prepaid Rental has expired.5. Depreciation Expense for the period is P105,000.Required:a. An 8-column worksheetb. Balance Sheetc. Income Statementd. Statement of Changes in Owner’s Equity
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(To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E