Please prepare the adjusting entries at Dec 31, 2020. Use the table above for reference The Midoriya Security Services began operation on January 1, 2020. At theend of the first year of operations, the unadjusted trial balance shows thefollowing:Midoriya Security ServicesUnadjusted Trial BalanceDecember 31, 2020CreditDebitP 12, 4003, 2003, 60058, 000CashAccounts ReceivablePrepaid InsuranceAutomobilesP 45, 0002, 50018, 00084, 000Notes PayableUnearned RevenueMidoriya, CapitalService RevenueSalaries expenseRepair expenseGas and oil expensesТОTAL57, 0006, 0009, 300Р 149, 500P 149, 500Additional information:a. Services provided but unbilled P2, 500 at December 31.b. Insurance coverage began January 1 under a 2- year policy.c. Automobile depreciation is P15, 000 for the year.d. Interest of P5, 4000 accrued on notes payable for the year.e. P1, 000 of the unearned fees has been earned.f. Driver's salaries total P500 per day. At December 31, 3 days salaries areunpaid.g. Repairs to automobiles of P650 have been incurred, but bills have notbeen received prior to December 31. (Use accounts payable)Instructions:1. Prepare the adjusting entries at December 31, 2020.Adjusting Entry(ЧCreditDebitа.b.С.d.е.f.g.

Adjusting entries are those journal entries which are prepared in order to adjust income, expenses,…

The Midoriya Security Services began operation on January 1, 2020. At the end of the first year of operations, the unadjusted trial balance shows the following: Midoriya Security Services Unadjusted Trial Balance December 31, 2020 Debit Р 12, 400 3, 200 3, 600 58, 000 Credit Cash Accounts Receivable Prepaid Insurance Automobiles Notes Payable Unearned Revenue Midoriya, Capital Service Revenue Salaries expense Repair expense Gas and oil expenses P 45, 000 2, 500 18, 000 84, 000 57, 000 6, 000 9, 300 Р 149, 500 ТОTAL P 149, 500 Additional information: a. Services provided but unbilled P2, 500 at December 31. b. Insurance coverage began January 1 under a 2- year policy. C. Automobile depreciation is P15, 000 for the year. d. Interest of P5, 4000 accrued on notes payable for the year. e. P1, 000 of the unearned fees has been earned. f. Driver's salaries total P500 per day. At December 31, 3 days salaries are unpaid. g. Repairs to automobiles of P650 have been incurred, but bills have not been received prior to December 31. (Use accounts payable) Instructions: 1. Prepare the adjusting entries at December 31, 2020. Adjusting Entry (4 Credit Debit а. b. С. d. o.

The Midoriya Security Services began operation on January 1, 2020. At the end of the first year of operations, the unadjusted trial balance shows the following: Midoriya Security Services Unadjusted Trial Balance December 31, 2020 Debit Р 12, 400 3, 200 3, 600 58, 000 Credit Cash Accounts Receivable Prepaid Insurance Automobiles Notes Payable Unearned Revenue Midoriya, Capital Service Revenue Salaries expense Repair expense Gas and oil expenses P 45, 000 2, 500 18, 000 84, 000 57, 000 6, 000 9, 300 Р 149, 500 ТОTAL P 149, 500 Additional information: a. Services provided but unbilled P2, 500 at December 31. b. Insurance coverage began January 1 under a 2- year policy. C. Automobile depreciation is P15, 000 for the year. d. Interest of P5, 4000 accrued on notes payable for the year. e. P1, 000 of the unearned fees has been earned. f. Driver's salaries total P500 per day. At December 31, 3 days salaries are unpaid. g. Repairs to automobiles of P650 have been incurred, but bills have not been received prior to December 31. (Use accounts payable) Instructions: 1. Prepare the adjusting entries at December 31, 2020. Adjusting Entry (4 Credit Debit а. b. С. d. o.

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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Dd.87.
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Post the adjusting entries to their respective ledger accounts already started in requirement # 2.
A33.
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