Instructions: А. Determine the type of adjustment (prepaid insurance, Unused Supplies, unearned revenue, accrued revenue or accrued expense, depreciation, allowance for doubtful expense or errors) В. Prepare the appropriate adjusting entries. JYD Company accumulates the following adjustment data at Dec 31, 2021 1. Fees earned but unbilled total P6,000 2. Store Supplies of P3,000 have been used. 3. Utility expenses of P2,250 are unpaid. 4. Fees of P2,600 collected in advance have been earned 5. Salaries of P8,000 are unpaid. 6. Prepaid insurance totaling P3,500 has expired.
Instructions: А. Determine the type of adjustment (prepaid insurance, Unused Supplies, unearned revenue, accrued revenue or accrued expense, depreciation, allowance for doubtful expense or errors) В. Prepare the appropriate adjusting entries. JYD Company accumulates the following adjustment data at Dec 31, 2021 1. Fees earned but unbilled total P6,000 2. Store Supplies of P3,000 have been used. 3. Utility expenses of P2,250 are unpaid. 4. Fees of P2,600 collected in advance have been earned 5. Salaries of P8,000 are unpaid. 6. Prepaid insurance totaling P3,500 has expired.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer what is asked.
Transcribed Image Text:Instructions:
A.
unearned revenue, accrued revenue or accrued expense, depreciation, allowance for
doubtful expense or errors)
Determine the type of adjustment (prepaid insurance, Unused Supplies,
В.
Prepare the appropriate adjusting entries.
JYD Company accumulates the following adjustment data at Dec 31, 2021
1. Fees earned but unbilled total P6,000
2. Store Supplies of P3,000 have been used.
3. Utility expenses of P2,250 are unpaid.
4. Fees of P2,600 collected in advance have been earned
5. Salaries of P8,000 are unpaid.
6. Prepaid insurance totaling P3,500 has expired.
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