WEEK 8: (Page 338 : 8-4) PREPARATION OF WORKSHEET Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account 1,200.00 Unused Supplies Prepaid Insurance Prepaid Rent 15,000.00 8,500.00 30,000.00 Delivery Truck Accumulated Depreciation -Delivery Truck Accounts Payable P. Cajegas, Capital 1,500,000.00 250,000.00 130,000.00 1,818,500.00 P. Cajegas, Drawing 50,000.00 Trucking Income Taxes and Licenses 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 Retainers Fee 25,000.00 320,000.00 Salaries and Wages Utilities Expenses Total 8,200.00 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a ) Adjusting entries (to guide you in the completion of worksheet) b.)A 10-column worksheet

WEEK 8: (Page 338 : 8-4) PREPARATION OF WORKSHEET Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account 1,200.00 Unused Supplies Prepaid Insurance Prepaid Rent 15,000.00 8,500.00 30,000.00 Delivery Truck Accumulated Depreciation -Delivery Truck Accounts Payable P. Cajegas, Capital 1,500,000.00 250,000.00 130,000.00 1,818,500.00 P. Cajegas, Drawing 50,000.00 Trucking Income Taxes and Licenses 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 Retainers Fee 25,000.00 320,000.00 Salaries and Wages Utilities Expenses Total 8,200.00 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a ) Adjusting entries (to guide you in the completion of worksheet) b.)A 10-column worksheet

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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