Follow the instructions. Typewritten for an upvote. No upvote for handwritten. PLEASE SKIP IF YOU HAVE ALREADY DONE THIS. Thank you Speedy Ironing ServicesUnadjusted Trial BalanceSeptember 30, 2020DebitP 23,450.00Cash2,000.00Accounts Receivable600.00Prepaid AdvertisingIroning SuppliesIroning Equipment100.00600.00Accounts Payable150.00Unearned Ironing RevenueCapital, Linda Santos100.0015,000.00Withdrawals, Linda Santos300.00Ironing Revenue17,000.00Rent Expense5,000.00Telephone Expense200.00P.32.250.00P 32,250.00One month of scheduled advertising appeared in the school newspaper in the amount ofP150.b. An inventory of Ironing supplies revealed approximately P50 on hand.c. Depreciation was taken on equipment with a useful life of 5 years. Ironing equipmentcosts P600,d.On Thursday, October 1, Linda would pay her first employee, who worked Tuesday andThursdays, P120 for the week.c.Ironing services for one of the two students who had paid in advance had been performedas of 9/30/2019.f.On Tuesday, September 29, services had been finished for 2 students who promised to payP50 each on 10/5/2019Performance Task 1: Prepare the journal entries to record the following adjustment informationof September 30, 2019, and at the same time Prepare the Adjusted Trial Balance. Write your answerin a two-column journal for the journal entries and in an 8-column worksheet for the UnadjustedTrial Balance, Adjustment Column and Adjusted Trial Balance.AdjustmentsAccountTitlesTrial BalanceDebit (Dr) Credit (Cr)Adjusted Trial BalanceDebit (Dr) Credit (Cr)Debit (Dr) Credit (Cr)PCreditB

Adjusting entries are those entries which are passed at the end of the period in order to accurately…

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Accounting

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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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Follow the instructions. Typewritten for an upvote. No upvote for handwritten. PLEASE SKIP IF YOU HAVE ALREADY DONE THIS. Thank you

Speedy Ironing Services
Unadjusted Trial Balance
September 30, 2020
Debit
P 23,450.00
Cash
2,000.00
Accounts Receivable
600.00
Prepaid Advertising
Ironing Supplies
Ironing Equipment
100.00
600.00
Accounts Payable
150.00
Unearned Ironing Revenue
Capital, Linda Santos
100.00
15,000.00
Withdrawals, Linda Santos
300.00
Ironing Revenue
17,000.00
Rent Expense
5,000.00
Telephone Expense
200.00
P.32.250.00
P 32,250.00
One month of scheduled advertising appeared in the school newspaper in the amount of
P150.
b. An inventory of Ironing supplies revealed approximately P50 on hand.
c. Depreciation was taken on equipment with a useful life of 5 years. Ironing equipment
costs P600,
d.
On Thursday, October 1, Linda would pay her first employee, who worked Tuesday and
Thursdays, P120 for the week.
c.
Ironing services for one of the two students who had paid in advance had been performed
as of 9/30/2019.
f.
On Tuesday, September 29, services had been finished for 2 students who promised to pay
P50 each on 10/5/2019
Performance Task 1: Prepare the journal entries to record the following adjustment information
of September 30, 2019, and at the same time Prepare the Adjusted Trial Balance. Write your answer
in a two-column journal for the journal entries and in an 8-column worksheet for the Unadjusted
Trial Balance, Adjustment Column and Adjusted Trial Balance.
Adjustments
Account
Titles
Trial Balance
Debit (Dr) Credit (Cr)
Adjusted Trial Balance
Debit (Dr) Credit (Cr)
Debit (Dr) Credit (Cr)
P
Credit
B

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