If services totaling P12,500 had been performed but not yet billed, what would the adjusting entry include? Sy Nak Tan Claims Adjuster Trial Balance Dec. 31, 2020 Cash Accounts Receivable Prepaid Insurance P 20,000 50,000 5,000 Supplies Office Equipment Accum. Depreciation - Office Equipment Accounts Payable Tan, Capital Service Revenues Salaries Expense Rent Expense 15,000 40,000 P 20,000 30,000 60,000 50,000 10,000 20,000 P 160,000 P 160,000 debit to Service Revenues for P12,500 credit to Service Revenues for P12,500 credit to Service Revenues for P62,500 credit to Unearned Service Revenues for P12,500

If services totaling P12,500 had been performed but not yet billed, what would the adjusting entry include? Sy Nak Tan Claims Adjuster Trial Balance Dec. 31, 2020 Cash Accounts Receivable Prepaid Insurance P 20,000 50,000 5,000 Supplies Office Equipment Accum. Depreciation - Office Equipment Accounts Payable Tan, Capital Service Revenues Salaries Expense Rent Expense 15,000 40,000 P 20,000 30,000 60,000 50,000 10,000 20,000 P 160,000 P 160,000 debit to Service Revenues for P12,500 credit to Service Revenues for P12,500 credit to Service Revenues for P62,500 credit to Unearned Service Revenues for P12,500

Name: If services totaling P12,500 had been performed but not yet billed, w
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: If services totaling P12,500 had been performed but not yet billed, what would theadjusting entry include?Sy Nak Tan Claims AdjusterTrial BalanceDec. 31, 2020CashAccounts ReceivablePrepaid InsuranceSuppliesOffice EquipmentAccum. Depreciation - Offic

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Following are transactions of Leduc Company: 2023 Dec.11 Accepted a $16,000, 6%, 60-day note dated this day in granting Fred Calhoun a time extension on his past-due account. Made an adjusting entry to record the accrued interest on the Fred Calhoun note. Closed the Interest income account. 31 31 2021 Jan. 10 Feb. 10 Mar. 5 29 May 7 June 9 Aug. 8 11 31 Oct. 12 Nov.19 Discounted the Fred Calhoun note at the bank at 7%. The Fred Calhoun note was dishonoured. Paid the bank the maturity value of the note plus a $30 fee. Accepted a $5,500, 5.5%, 60-day note dated this day in granting a time extension on the past-due account of Donna Reed. Discounted the Donna Reed note at the bank at 7.5%. The Donna Reed note had been received by the bank and paid by Donna Reed. Accepted a $7,750, 60-day, 5% note dated this day in granting a time extension on the past-due account of Jack Miller. Received payment of the maturity value of the Jack Miller note. Accepted an $9,000, 60-day, 5% note dated this…
18. Tangier Company had a January 1, 2022, balance in Allowance for Doubtful Accounts of $7,000 Cr. The following events required journal entries during 2022: Apr. 15 Diya’s account receivable of $5,700 was deemed uncollectible. July 1 Nitosa paid the full amount of her previously written-off account receivable. The receivable of $2,300 had been written off in 2021. Dec. 31 Bad debts expense was estimated to be 2.0 percent of net credit sales, which had amounted to $375,000. What amount of Allowance for Doubtful Accounts should appear in the December 31, 2022 balance sheet? a. $6,500 b. $11,100 c. $22,500 d. $17,900 e. None of the above. 19. Nguyen Company had $250,000 of Accounts Receivable and a $7,500 credit balance in its Allowance for Doubtful Accounts account just prior to writing off a $2,000 uncollectible account of a customer. After the write-off, the carrying amount (NRV-Net Realizable…
Physicians’ Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable = $50,000; Allowance for Uncollectible Accounts = $1,000 (credit). On December 31, 2024, Physicians’ estimates uncollectible accounts to be 20% of accounts receivable. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2024.2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet.3. Calculate net accounts receivable reported in the balance sheet.
On September 15, 2024, Oliver's Mortuary received a $6,000 note from the estate of Jay Hendrix in exchange for services rendered. Terms of the note call for the payment of principal, and interest at 10% in nine months. Oliver's has a December 31 year-end. What adjusting entry will the company record on December 31, 2024? Multiple Choice Account Title Interest receivable Interest revenue Account Title Interest receivable Interest revenue Cash Debit Credit 230 Debit 600 230 Credit 175 425
do not give solution in image
Give me answer
Dhapa
Do a journal entry based on this transections, round interest amounts to the nearest dollar,
Required: (a) Prepare journal entries to record the impairment loss of receivable in 2021 under Statement of Financial Position approach. (b) Prepare partial Statement of Financial Positions to show the accounts receivables at 31 December 2021.
Please help me. Thankyou.