Answer the following in a good form. Can be a typewriiten or handwritten. Thankyou.

EXERCISES Exercise 4-1 2019. The allectivity of the policy Assuming the cash basis of accounti For 20207 For 20217 For 20229ment of Assuring the cage basis for of fire oly position for the year 20197 For 20207 For 20217 For 20227 Assuming the accrual basis of accounting, how much 20197 For 20207 For 20217 For 20227 income for the year on each the accrual basis, how much of the 2017? For 20197 5 1 statement of financial position for me year 20167 For lowing table. Use the space p 2. 3. 4. Exercise 4- 2 detaper he problem. Make the adjusting entry for column (a) assuming supplies purchased are efiles purchased during the month 52 1.928 zercise 4-3 Classify the following terms as (a) deferred expense (prepaid expense)..() deferred revenue A two-year premium paid on a fire insurance policy Electric bill owed but not yet paid Office Supplies on hand ges owed but not yet paid phone bill owed but payable in the following period scriptions collected in advance by a new per publisher Service Revenue collected but not yet earned Service Revenue already earned but not yet received Interest paid in advance from a bank loan Rent received in advance Services rendered but not yet collected Advertising contract paid in advance for one year come collected but not yet earned Rent paid in advance rest collected in advance by the creditor Exercise 4-4 posted at the end of the first year of operations , are shown in the T-accounts below . Supplies Expense Determine the amount ed during the year. Exercise 4-5 At the and of the current year. P 21.780 of Journalize the adjusting entry to record the accrued fees. Description Re Dawn Crest agusting entry have been necessary? Explain. been used would an weise 4-7 36,000 representing premium for a 2-year fire insurance policy effective October Rent Income was credited for P 18,000 on November 1, 201 Equipment per general ledger on December 31. 2019 shows a balance of P equipment is to be depreciated at the rate of 25% per annum. As of December 31. 2016, comm Supplies account. Of the amount, P 5,000 promwe adebited to the Office earned Service Fees acc is, 40% had been actually earned during the period On December 31, 2019 a 90-day, 9% Notes Payable has a balan er senegal berger. The note wa issued on December 5, 2019. No Won 20; service revenue has a balance of P 400,000 of which 60% has been Notes Receivable has a balance of P 100,000 received from a client in 12%% note . No interest has been taken on us , 8:2019. The note is a 90-day . The Prepaid Insurance account has balance of P 210,000 on December 31. a 2-year plan while Policy II is for a one-year plan. EXERCISE 4-8 Classification of Adjusting Entries INSTRUCTION: Classify the folk saction as: a. Accrued revenue b. Accrued expense C. Prepaid expenses d. Unearned revenue . Interest paid in advance at the time the note was discounted at the bank. on income received in ad 4. Rent received in advance in property owner che insurance premiums received by an Insurance company. to employees. Portion of fee earned by CPA but not due until completion of an audit Interest earned but not yet received. 12. Receipts from sale of meal tickets by a restaurant. 13. Interest owed but not yet due. 14. A three-year premium paid on fire insurance policy. 15. Salary owed but not yet due, vertising expenses for the quart 19. Collected two months deposit and one mor 20. Unrecorded interest on notes receivable. ental of apartme EXERCISE to Preparation of Adjusting Entries INSTRUCTION: Only one-half of each adjusting entry has been sh Complete the journal entry. . Doubtful account expense is debited. 3. Commission income is debited. 5. Utilities expense is debited. 6. Service income is credited. 7. Prepaid rent is credited. 9. Office supplies are debited. 10. Allowance for doubtful accounts is debited. Salaries payable is credited. 12. Unearned rent is debited. 13. Depreciation expense is debited. 15. Prepaid insurance 16. Interest expense 18. Unearned com 19. Rent expense is credited. 20. Unearned interest is credited. ROBLEM 4-1. INSTRUCTION: 1. Prepare the nec 31, 2020. MODE MESA MERCHANDISING follows the policy of recording the beginning of the new accounting period. The records of the business show the following: A. On Sept. 1, 2020, De Mesa borrowed P 200,000 cash from PNB by issuing a 149 notes payable due in one year. The interest is payable upon maturity of the note De Mesa purchased a three-year insurance policy for P 90,000 on July 31, 2020 C. On September 1, 2020, De Mesa paid P 60,000 representing rental for twelve months beginning on this date. Office supplies on hand on March 1, 2 supplies of P 2,200 were purchased. On December 31, there are unused supplies P 1,800. do these pays all employees every Friday. The total payroll for a five-day workweek De Mesa purchased some time 1. 2020, the office equipment has a balance of P20, 000. All assets of the company nic reports accounts receivable of P. 400,000 and Allow tocounts of P 1,000 (debit balance); 3%% of the receivables are estimated to b PROBLEM 4-2 INSTRUCTIONS: 1. Prepare adjusting entries on December 31, 2020 on the following transactions. 2. Show computation as your explanation. Mlowing information has been made available in co the books of Minda Enterprises as of December 31 are as follows: already due but not yet paid as of December 31, amounted to P 9,500 The rent income has a balance of P as of Decampance of P 6,800. Of this amount, P 1,500 has already be ed as of December 31. expired as of December 31. Subscription Income has a balance of P 9,800. Of this am ready been earned as of December 31. bunt P 5,000 has livable outstanding, p 2,400. berest due on notes payable outstanding, P 4,600. Interest paid in advance on a bank loan was ceciled to interest expense account. Interest collected and credited to interest income P 1 400 This Pornsects December 31. P 2,250 store supplies are still unused. arduous receivable of P250.000 is only 94% is collectibles. P50.000 and was acquired on Jan