Problem #7 preparing Adjusting Entries from Unadjusted and Adjusted Trial Balance The following is a partial listing of the unadjusted and adjusted trial balances for Christine Gamba, the Property Manager. Unadjusted Adjusted Trial Balance Trial Balance Dr. Cr. Dr. Cr. Prepaid Insurance Office Supplies P 30,000 P 13,800 12,600 5,400 Interest Receivable 2,100 Building Accumulated Depreciation 1,560,000 1,560,000 P240,000 P280,000 Advances from Tenants 24,000 16,000 Rent Payable Salaries Payable Insurance Expense 40,000 18,000 16,200 Supplies Expense Depreciation Expense Salaries Expense 7,200 40,000 200,000 120,000 218,000 Rent Expense 160,000 Interest Revenues 2,100 Rent Revenues 8,000 Required: From the information given, reconstruct the adjusting entries.
Problem #7 preparing Adjusting Entries from Unadjusted and Adjusted Trial Balance The following is a partial listing of the unadjusted and adjusted trial balances for Christine Gamba, the Property Manager. Unadjusted Adjusted Trial Balance Trial Balance Dr. Cr. Dr. Cr. Prepaid Insurance Office Supplies P 30,000 P 13,800 12,600 5,400 Interest Receivable 2,100 Building Accumulated Depreciation 1,560,000 1,560,000 P240,000 P280,000 Advances from Tenants 24,000 16,000 Rent Payable Salaries Payable Insurance Expense 40,000 18,000 16,200 Supplies Expense Depreciation Expense Salaries Expense 7,200 40,000 200,000 120,000 218,000 Rent Expense 160,000 Interest Revenues 2,100 Rent Revenues 8,000 Required: From the information given, reconstruct the adjusting entries.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Preparing Adjusting Entries from Unadjusted and Adjusted Trial Balance
Problem #7
preparing Adjusting Entries from Unadjusted and Adjusted Trial Balance
The following is a partial listing of the unadjusted and adjusted trial balances for
Christine Gamba, the Property Manager.
Unadjusted
Trial
d Adjusted
Balance
Trial
Balanceinsn
Dr.
Cr.
Dr.
Cr.
Prepaid Insurance
Office Supplies
P 30,000
P 13,800
12,600
5,400
Interest Receivable
2,100
Building
Accumulated Depreciation
1,560,000
1,560,000
P240,000
24,000
P280,000
Advances from Tenants
16,000
Rent Payable
Salaries Payable
Insurance Expense
40,000
18,000
16,200
Supplies Expense
Depreciation Expense
Salaries Expense
7,200
40,000
200,000
218,000
Rent Expense
120,000
160,000
Interest Revenues
2,100
Rent Revenues
8,000
Required:
From the information given, reconstruct the adjusting entries.
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