answer number 3

INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November 1 , the company paid 9360,000 for a 6 -month insurance contract with Assurance Guaranteed. (b) On November 21, the company issued a 90-day 6% note for money borrowed from A1 Loan amounting to 0600,000 . (c) On November 22, Animo Bookstore contracted the company to deliver specialized school supplies. The company recelved 2214,400 in advance from Animo Bookstore. 994,400 worth of school supplies have been delivered by month-end. (d) On November 30 , the company has eamed commissions of 832,000 from steadfast Falth Company for goods sold on consigment basis. This remains to be uncollected at month-end. (e) On November 30, the company received its ubitites bill for the month of November amounting to 992,000 . This remains to be unpaid at month-end. (f) On November 30, Store Supolies costing P20,000 were on hand. (9) The company purchased the equipment on hily 1, 2022. The equipment was estimated to have a useful life of five years and a residual value of 10% of cost: (h) The company purchased the furniture on July 1, 2022. The furniture was estimated to have a useful life of four years with no residual value. (i) The allowance for doubtul accounts is estimated at 3% of accounts receivable. (1) Based on a physical count, end ine inventory was determined to be e520,000. (3) Prepare a functional form Statement of Profit or Loss for the month ended November 30, 2022 [SPL]. Include any supporting notes to financial statements [NOTES]. 3) Prepare a functional form Statement of Profit or Loss for the month ended November 30 , 2022 [SPL]. Include any supporting notes to financial statements [NOTES]. Cleaning Services Expense, Insurance Expense, Rent Expense, Utilities Expense, and Depreciation Expense are allocated as follows: Office: 40% Store: 60%