Cash Accounts Receivable Supplies Furnitures and Fixtures Equipment Alcantara Assurance Firm Unadjusted Trial Balance 12/31/22 Notes...

Transcribed Image Text:

Cash Accounts Receivable Supplies Furnitures and Fixtures Equipment Alcantara Assurance Firm Unadjusted Trial Balance 12/31/22 Notes Payable Alcantara Assurance, Capital Alcantara Assurance, Drawings Service Revenue Salaries Expense Miscellaneous Expense Rent Expense Insurance Expense Permits and Licenses Expense Dr 520,367.94 103,000.00 10,000.00 15,000.00 123,000.00 5,000.00 20,000.00 120.00 12,000.00 2,000.00 1,000.00 811,487.94 Cr 100,000.00 500,000.00 211,487.94 811,487.94 Notes 1. P 33,000 unpaid Salaries as of December 31, 2022 2. Equipment was purchased last January 1, 2022 with a useful life of 2 years 3. 10% of Accounts Receivable from a client who migrated to Canada for retirement 4. As of December 31, 2022, P 5,500 worth of Supplies left 5. Notes Payable is dated November 30, 2022 with 12% interest rate and 60 days maturity value 6. Furniture and Fixtures was purchased last March 10, 2022 with a useful life of 5 years and scrap value of 20% of the principal Prepare the following: Adjusting Entries 10-Column Worksheet Closing Entries and Post-Closing Trial Balance Cash Accounts Receivable Supplies Furnitures and Fixtures Equipment Alcantara Assurance Firm Unadjusted Trial Balance 12/31/22 Notes Payable Alcantara Assurance, Capital Alcantara Assurance, Drawings Service Revenue Salaries Expense Miscellaneous Expense Rent Expense Insurance Expense Permits and Licenses Expense Dr 520,367.94 103,000.00 10,000.00 15,000.00 123,000.00 5,000.00 20,000.00 120.00 12,000.00 2,000.00 1,000.00 811,487.94 Cr 100,000.00 500,000.00 211,487.94 811,487.94 Notes 1. P 33,000 unpaid Salaries as of December 31, 2022 2. Equipment was purchased last January 1, 2022 with a useful life of 2 years 3. 10% of Accounts Receivable from a client who migrated to Canada for retirement 4. As of December 31, 2022, P 5,500 worth of Supplies left 5. Notes Payable is dated November 30, 2022 with 12% interest rate and 60 days maturity value 6. Furniture and Fixtures was purchased last March 10, 2022 with a useful life of 5 years and scrap value of 20% of the principal Prepare the following: Adjusting Entries 10-Column Worksheet Closing Entries and Post-Closing Trial Balance

Answer rating: 100% (QA)

The information provided pertains to the financial details of Alcantara Assurance Firm as of Decembe... View the full answer