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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

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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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 8 8-4 Cajegas Trucking Services Trial Balance na has June 30, 208 Debit Credit Cash in Bank P 1,020,000 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 Canh in B tay Ca AVount Emate Pepai hpaid 1,000 120,000 P. 1,200 15,000 8,500 30,000 1,500,000 Operat 250,000 130,000 1,818,500 Arc. D Aumit 50,000 ne 935,000 Note 10,000 0.T D.T Repairs & Maintenance Retainer Fees 27,000 Salaries & Wages Utilities Expense 25,000 320,000 8,200 P 3,134,700 Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstand 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 worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity 338 Pension
Transcribed Image Text:Chapter 8 8-4 Cajegas Trucking Services Trial Balance na has June 30, 208 Debit Credit Cash in Bank P 1,020,000 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 Canh in B tay Ca AVount Emate Pepai hpaid 1,000 120,000 P. 1,200 15,000 8,500 30,000 1,500,000 Operat 250,000 130,000 1,818,500 Arc. D Aumit 50,000 ne 935,000 Note 10,000 0.T D.T Repairs & Maintenance Retainer Fees 27,000 Salaries & Wages Utilities Expense 25,000 320,000 8,200 P 3,134,700 Total P 3,134,700 Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstand 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 worksheet b) Balance Sheet c) Income Statement d) Statement of Changes in Owner's Equity 338 Pension
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