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4-58 | Basic Financial Accounting and Reporting by Prof. WIN Ballada NAME: SCORE: SECTION: PROFESSOR: Problem #6 Adjusting Entries and Accounting Policy The following are some of the transactions made by Rosemarie Jacalan Cleaners during 2019: Apr. 1 Acquired cleaning supplies in the amount of P260,000. A count of the supplies on Dec. 31, 2019 amounted to P110,000. Aug. 1 Received P360,000 from Cebu Manpower for cleaning janitorial uniforms over the next 3 years. Nov. 1 Paid P240,000 for annual rent. Required: 1. Assume that Jacalan records these transactions using the following accounts, record the adjusting entries on Dec. 31, 2019: Office Supplies Prepaid Rent Unearned Cleaning Revenues 2. Now, assume that Jacalan records these transactions using the following accounts what will be the adjusting entries on Dec. 31, 2019? Office Supplies Expense Rent Expense Cleaning RevenuesSECT PROFESSOR: problem #4 Worksheet Preparation The May 31, 2019 trial balance for Rosalina Besario Surveyors is presented as follows. Rosalina Besario Surveyors Trial Balance May 31, 2019 Cash Accounts Receivable P 210,000 Prepaid Advertising 930,000 Engineering Supplies 360,000 Survey Equipment 270,000 Accum. Depreciation-Survey Equipt. 1,890,000 Accounts Payable P 640,000 Unearned Survey Revenues 190,000 Notes Payable 120,000 Besario, Capital 500,000 Besario, Withdrawals 1,120,000 700,000 Survey Revenues 6,510,000 Salaries Expense 3,270,000 Rent Expense 960,000 Insurance Expense 250,000 Utilities Expense 160,000 Miscellaneous Expense 80,000 Totals P9,080,000 P9,080,000 The following information pertaining to the year-end adjustments is available: a. The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2018 for monthly advertising over the next 18 months. D. A count of the engineering supplies at May 31, 2019 amounted to P90,000. C. Depreciation on the surveying equipment amounted to P160,000. d. One-third of the unearned survey revenues has been earned at year-end. e. At year-end, salaries in the amount of P140,000 have accrued. 1. Interest of P60,000 on the notes payable has accrued at year-end. required: Prepare the adjustments on the worksheet and complete the worksheet