h. Paid annual dues of P1,200 on September 1, 20x21, to the Chamber of Commerce and charged Dues and Subscription Expense. i. Subscribed to Building Reports on April 1, 20x1, agreeing to pay equal semi-annual installments of P720 each. The first payment was charged to Prepaid Dues and Subscriptions, and the second was charged to Dues and Subscriptions Expense. j. Vacation advances were made in the amount of P6,000 on December 15, 20x1, and charged to Vacation Expense. Of this amount, P3,000 applies to vacations starting January 1, 20x2.
Answer the following items on a separate sheet of paper. Prepare audit adjustments for the following situations you find in the records of Jasmine, Inc., which closes its accounts December 31, 20x1
h. Paid annual dues of P1,200 on September 1, 20x21, to the Chamber of Commerce and charged Dues
and Subscription Expense.
i. Subscribed to Building Reports on April 1, 20x1, agreeing to pay equal semi-annual installments of
P720 each. The first payment was charged to Prepaid Dues and Subscriptions, and the second was
charged to Dues and Subscriptions Expense.
j. Vacation advances were made in the amount of P6,000 on December 15, 20x1, and charged to
Vacation Expense. Of this amount, P3,000 applies to vacations starting January 1, 20x2.
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