P13 Presented below is the unadjusted trial balance of the CHJB Information Systems for the year ended Dec. 31, 2019 CHJB Information Systems Unadjusted Trial Balance Dec. 31, 2020 Cash P 45,000 Notes Receivable 360,000 Accounts Receivable 156,000 Office Supplies 63,000 Land 300,000 Building 1,590,000 Accumulated Depreciation – Building P 254,000 Equipment 2,150,000 Accumulated Depreciation – Equipment 612,000 Accounts Payable 213,000 Unearned Consulting Revenues 450,000 CHJB, Capital 2,655,000 CHJB, Withdrawals 600,000 Consulting Revenues 2,108,000 Salaries Expense 875,000 Repairs Expense 116,000 Miscellaneous Expense 37,000 TOTAL P P 6,292,000 6,292,000 Additional Information: (A) Office supplies on hand as at Dec. 31, 2020 is P21,000. (B) One-third of the unearned revenues has been earned as at Dec. 31, 2020. (C) Depreciation for the year amounted to P38,000 for the building and P123,000 for the equipment. (D) Salaries in the amount of P14,000 have accrued at year-end. (E) The notes receivable were accepted from several customers. The notes were issued on Sept. 1, 2020 and will be settled together with a 20% interest on May 31, 2021. Required: (1) Prepare a completed worksheet and journalize the adjusting entries. (2) Prepare the adjusted trial balance, income statement, statement of changes in equity and the balance sheet.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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P13 Presented below is the unadjusted trial balance of the CHJB Information Systems for the year ended Dec. 31, 2019 CHJB Information Systems Unadjusted Trial Balance Dec. 31, 2020 Cash P 45,000 Notes Receivable 360,000 Accounts Receivable 156,000 Office Supplies 63,000 Land 300,000 Building 1,590,000 Accumulated Depreciation – Building P 254,000 Equipment 2,150,000 Accumulated Depreciation – Equipment 612,000 Accounts Payable 213,000 Unearned Consulting Revenues 450,000 CHJB, Capital 2,655,000 CHJB, Withdrawals 600,000 Consulting Revenues 2,108,000 Salaries Expense 875,000 Repairs Expense 116,000 Miscellaneous Expense 37,000 TOTAL P P 6,292,000 6,292,000 Additional Information: (A) Office supplies on hand as at Dec. 31, 2020 is P21,000. (B) One-third of the unearned revenues has been earned as at Dec. 31, 2020. (C) Depreciation for the year amounted to P38,000 for the building and P123,000 for the equipment. (D) Salaries in the amount of P14,000 have accrued at year-end. (E) The notes receivable were accepted from several customers. The notes were issued on Sept. 1, 2020 and will be settled together with a 20% interest on May 31, 2021. Required: (1) Prepare a completed worksheet and journalize the adjusting entries. (2) Prepare the adjusted trial balance, income statement, statement of changes in equity and the balance sheet.
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