The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows: Cash 504,000 789,000 Accounts Receivable Prepaid Rent Cooking Supplies 144,00 357,000 Land 530,000 Building Accumulated Depreciation- Building Cooking Equipment 1,250,000 413,000 870,000 Accumulated Depreciation- Cooking 212.000
The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows: Cash 504,000 789,000 Accounts Receivable Prepaid Rent Cooking Supplies 144,00 357,000 Land 530,000 Building Accumulated Depreciation- Building Cooking Equipment 1,250,000 413,000 870,000 Accumulated Depreciation- Cooking 212.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
What is the adjustment journal entry and the worksheet?
![The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows:
Cash
504,000
Accounts Receivable
789,000
Prepaid Rent
Cooking Supplies
144,00
357,000
Land
530,000
Building
Accumulated Depreciation- Building
Cooking Equipment
Accumulated Depreciation- Cooking
1,250,000
413,000
870,000
212,000
Equipment
Notes Payable
Accounts Payable
1,400,000
117,000
Bibonia, Capital
Bibonia, Withdrawals
Gourmet Cooking Revenues
Salaries Expense
Travel Expense
Advertising Expense
1,435,000
240,000
2,256,000
619,000
127,000
215,000
Insurance Expense
40,000
Utilities Expense
Miscellaneous Expense
102,000
46,000
ТOTAL
5,833,000
5,833,000
Additional Information:
a. One-half of the prepaid rent has expired.
b. Cooking supplies on hand at year end amounted to P25,000
c. Depreciation on the building and the cooking equipment amounted to P28,000 and P52,000,
respectively
d. Accrued Salaries at year end amounted to P27,000
e. Interest amounting to P252,000 has accrued on notes payable. Interest on the note is paid every
January 1. The note matures on January 1, 2020.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F76960bb8-dec3-4b87-8bd3-0e4f48f78716%2F8c193a61-0090-4d2e-a103-a30d33432a5a%2Fqzlpg2d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows:
Cash
504,000
Accounts Receivable
789,000
Prepaid Rent
Cooking Supplies
144,00
357,000
Land
530,000
Building
Accumulated Depreciation- Building
Cooking Equipment
Accumulated Depreciation- Cooking
1,250,000
413,000
870,000
212,000
Equipment
Notes Payable
Accounts Payable
1,400,000
117,000
Bibonia, Capital
Bibonia, Withdrawals
Gourmet Cooking Revenues
Salaries Expense
Travel Expense
Advertising Expense
1,435,000
240,000
2,256,000
619,000
127,000
215,000
Insurance Expense
40,000
Utilities Expense
Miscellaneous Expense
102,000
46,000
ТOTAL
5,833,000
5,833,000
Additional Information:
a. One-half of the prepaid rent has expired.
b. Cooking supplies on hand at year end amounted to P25,000
c. Depreciation on the building and the cooking equipment amounted to P28,000 and P52,000,
respectively
d. Accrued Salaries at year end amounted to P27,000
e. Interest amounting to P252,000 has accrued on notes payable. Interest on the note is paid every
January 1. The note matures on January 1, 2020.
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