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Diana Margallo, Interior Decorator Trial Balance December 31, 2009 Cash P186,000 Accounts Receivable 71,200 Prepaid Rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Margallo, Capital Margallo, Drawings Professional Fees 19,200 177,500 P 5,500 18,000 12,000 300,000 19,000 276,300 82,500 Salaries Expense 17,000 Supplies Expense Utilities Expense Interest Expense 37,800 1,600 P611,800 P611,800 Totals Additional data: -Prepaid rent is for the period October 1, 2009 to May 31, 2010. -Depreciation rate on the equipment is 5% per year. Scrap value of P35,000. -Salaries incurred but unpaid as of December 31, P12,000. - The note was issued on December 11 for 30 days at 12%. Provision for bad debt is 5% of the outstanding accounts of customers. - Supplies on hand, P5,000. Required: Prepare a 10-column worksheet for the year ended December 31, 2009. m

Diana Margallo, Interior Decorator Trial Balance December 31, 2009 Cash P186,000 Accounts Receivable 71,200 Prepaid Rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Margallo, Capital Margallo, Drawings Professional Fees 19,200 177,500 P 5,500 18,000 12,000 300,000 19,000 276,300 82,500 Salaries Expense 17,000 Supplies Expense Utilities Expense Interest Expense 37,800 1,600 P611,800 P611,800 Totals Additional data: -Prepaid rent is for the period October 1, 2009 to May 31, 2010. -Depreciation rate on the equipment is 5% per year. Scrap value of P35,000. -Salaries incurred but unpaid as of December 31, P12,000. - The note was issued on December 11 for 30 days at 12%. Provision for bad debt is 5% of the outstanding accounts of customers. - Supplies on hand, P5,000. Required: Prepare a 10-column worksheet for the year ended December 31, 2009. m

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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Accounting worksheet — 10 columns

Diana Margallo, Interior Decorator Trial Balance December 31, 2009 Cash P186,000 Accounts Receivable 71,200 Prepaid Rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Margallo, Capital Margallo, Drawings 19,200 177,500 P 5,500 18,000 12,000 300,000 19,000 276,300 Professional Fees 82,500 17,000 37,800 1,600 P611,800 Salaries Expense Supplies Expense Utilities Expense Interest Expense P611,800 Totals Additional data: -Prepaid rent is for the period October 1, 2009 to May 31, 2010. -Depreciation rate on the equipment is 5% per year. Scrap value of P35,000. -Salaries incurred but unpaid as of December 31, P12,000. - The note was issued on December 11 for 30 days at 12%. Provision for bad debt is 5% of the outstanding accounts of customers. - Supplies on hand, P5,000. Required: Prepare a 10-column worksheet for the year ended December 31, 2009. trign in good form.
Transcribed Image Text:Diana Margallo, Interior Decorator Trial Balance December 31, 2009 Cash P186,000 Accounts Receivable 71,200 Prepaid Rent Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Margallo, Capital Margallo, Drawings 19,200 177,500 P 5,500 18,000 12,000 300,000 19,000 276,300 Professional Fees 82,500 17,000 37,800 1,600 P611,800 Salaries Expense Supplies Expense Utilities Expense Interest Expense P611,800 Totals Additional data: -Prepaid rent is for the period October 1, 2009 to May 31, 2010. -Depreciation rate on the equipment is 5% per year. Scrap value of P35,000. -Salaries incurred but unpaid as of December 31, P12,000. - The note was issued on December 11 for 30 days at 12%. Provision for bad debt is 5% of the outstanding accounts of customers. - Supplies on hand, P5,000. Required: Prepare a 10-column worksheet for the year ended December 31, 2009. trign in good form.
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