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Prepare a complete worksheet from Unadjusted Trial Balance to Post Closing Trial Balance. (Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement, Balance Sheet, Closing Entries, Post Closing Trial Balance) 2) Prepare the Adjusting Entries and Closing Entries.

Prepare a complete worksheet from Unadjusted Trial Balance to Post Closing Trial Balance. (Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement, Balance Sheet, Closing Entries, Post Closing Trial Balance) 2) Prepare the Adjusting Entries and Closing Entries.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required:
1) Prepare a complete worksheet from Unadjusted Trial Balance to Post Closing Trial Balance. (Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement, Balance Sheet, Closing Entries, Post Closing Trial Balance)
2) Prepare the Adjusting Entries and Closing Entries.

Thank you so much!:)

 

The May 31, 2018 trial balance for Rosalina Besario Surveyors is presented as follows: Problem #4 Worksheet Preparation Rosalina Besario Surveyors Trial Balance May 31, 2018 Cash Accounts Receivable P 210,000 930,000 360,000 270,000 1,890,000 Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Besario, Capital Besario, Withdrawals Survey Revenues Salaries Expense P 640,000 190,000 120,000 500,000 1,120,000 700,000 6,510,000 3,270,000 Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense 960,000 250,000 160,000 80,000 Totals P9,080,000 P9,080,000 The following information pertaining to the year-end adjustments is available: a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2017 for monthly advertising over the next 18 months. b. A count of the engineering supplies at May 31, 2018 amounted to P90,000. C. Depreciation on the surveying equipment amounted to P160,000. d. One-third of the unearned survey revenues has been earned at year-end. e. At year-end, salaries in the amount of P140,000 have accrued. i Interest of P60,000 on the notes payable has accrued at year-end.
Transcribed Image Text:The May 31, 2018 trial balance for Rosalina Besario Surveyors is presented as follows: Problem #4 Worksheet Preparation Rosalina Besario Surveyors Trial Balance May 31, 2018 Cash Accounts Receivable P 210,000 930,000 360,000 270,000 1,890,000 Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Besario, Capital Besario, Withdrawals Survey Revenues Salaries Expense P 640,000 190,000 120,000 500,000 1,120,000 700,000 6,510,000 3,270,000 Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense 960,000 250,000 160,000 80,000 Totals P9,080,000 P9,080,000 The following information pertaining to the year-end adjustments is available: a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2017 for monthly advertising over the next 18 months. b. A count of the engineering supplies at May 31, 2018 amounted to P90,000. C. Depreciation on the surveying equipment amounted to P160,000. d. One-third of the unearned survey revenues has been earned at year-end. e. At year-end, salaries in the amount of P140,000 have accrued. i Interest of P60,000 on the notes payable has accrued at year-end.
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