JAY CESAR SYSTEM DEVELOPER TRIAL BALANCE DECEMBER 31, 2019 DEBIT CREDIT CASH NOTES RECEIVABLE ACCOUNTS RECEIVABLE 45,000 360,000 156,000 63,000 OFFICE SUPPLIES LAND 300,000 1,590,000 BUILDING ACCUM. DEPRECIATION-BLDG 254,000 EQUIPMENT 2,150,000 ACCUM. DEPRECIATION-EQUIPMENT 612,000 213,000 450,000 ACCOUNTS PAYABLE UNEARNED REVENUE JAY CAPITAL JAY WITHDRAWAL SERVICE REVENUES SALARIES EXPENE REPAIRS EXPENSE MISCELLANEOUS EXPENSE TOTAL 2,655,000 600,000 2,108,000 875,000 116,000 37,000 6,292,000 6,292,000 ADDITIONAL INFORMATION FOR ADJUSTMENTS 1. Office Supplies on hand as of Dec. 31, 2019 is P21,000. 2. Three-fourth of the unearned revenues is applicable to the next accounting period. 3. Depreciation for the year as follows: Building P38,000 Equipment P123,000 4. Salaries in the amount of P14,000 have accrued at year-end. 5. The notes receivable were accepted from several customers. The notes were issued on Sept. 1, 2019 and will be settled together with the a 20% interest on May 31, 2020. 6. 5% of the accounts receivable is doubtful of collection.
JAY CESAR SYSTEM DEVELOPER TRIAL BALANCE DECEMBER 31, 2019 DEBIT CREDIT CASH NOTES RECEIVABLE ACCOUNTS RECEIVABLE 45,000 360,000 156,000 63,000 OFFICE SUPPLIES LAND 300,000 1,590,000 BUILDING ACCUM. DEPRECIATION-BLDG 254,000 EQUIPMENT 2,150,000 ACCUM. DEPRECIATION-EQUIPMENT 612,000 213,000 450,000 ACCOUNTS PAYABLE UNEARNED REVENUE JAY CAPITAL JAY WITHDRAWAL SERVICE REVENUES SALARIES EXPENE REPAIRS EXPENSE MISCELLANEOUS EXPENSE TOTAL 2,655,000 600,000 2,108,000 875,000 116,000 37,000 6,292,000 6,292,000 ADDITIONAL INFORMATION FOR ADJUSTMENTS 1. Office Supplies on hand as of Dec. 31, 2019 is P21,000. 2. Three-fourth of the unearned revenues is applicable to the next accounting period. 3. Depreciation for the year as follows: Building P38,000 Equipment P123,000 4. Salaries in the amount of P14,000 have accrued at year-end. 5. The notes receivable were accepted from several customers. The notes were issued on Sept. 1, 2019 and will be settled together with the a 20% interest on May 31, 2020. 6. 5% of the accounts receivable is doubtful of collection.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:JAY CESAR SYSTEM DEVELOPER
TRIAL BALANCE
DECEMBER 31, 2019
DEBIT
CREDIT
CASH
NOTES RECEIVABLE
45,000
360,000
ACCOUNTS RECEIVABLE
156,000
OFFICE SUPPLIES
63,000
LAND
300,000
BUILDING
1,590,000
ACCUM. DEPRECIATION-BLDG
254,000
EQUIPMENT
2,150,000
ACCUM. DEPRECIATION-EQUIPMENT
612,000
213,000
450,000
2,655,000
ACCOUNTS PAYABLE
UNEARNED REVENUE
JAY CAPITAL
JAY WITHDRAWAL
600,000
SERVICE REVENUES
2,108,000
SALARIES EXPENE
875,000
REPAIRS EXPENSE
116,000
MISCELLANEOUS EXPENSE
37,000
TOTAL
6,292,000
6,292,000
ADDITIONAL INFORMATION FOR ADJUSTMENTS
1. Office Supplies on hand as of Dec. 31, 2019 is P21,000.
2. Three-fourth of the unearned revenues is applicable to the next accounting period.
3. Depreciation for the year as follows:
Building P38,000
Equipment P123,000
4. Salaries in the amount of P14,000 have accrued at year-end.
5. The notes receivable were accepted from several customers. The notes were
issued on Sept. 1, 2019 and will be settled together with the a 20% interest on
May 31, 2020.
6. 5% of the accounts receivable is doubtful of collection.
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