Chapter 1 MANUFACTURING CONCERN - NON-COST SYSTEM B- 1-9 -Data for adjustments: 1. Furniture and Equipment are depreciated at 10% per annum. From the following Trial Balance of Golden Manufacturing Company prepare:. 2. Bad Debts is 1% of Sales. 1) Worksheet 3. Accrued salaries - Sales, P50,000. 2) Income Statement (with supporting Schedule of Cost of Goods Manufactured 4. Amortization of Patents 20% per annum. and Sold) for the six months ended June 30, 20X4. : } , 5. Tools written off, P22,000. 3) Balance Sheet 6. The following is the distribution of selected accounts: 4) -Adjusting Entries - 5) Closing Entries Factory Selling Administrative ftsGolden Manufacturing Company Trial Balance Light and Power 50% 30% 20% June 30, 20%43ChinaMe Insurance 70% 10% 20% Repairs and Maintenance 10% 10% Cash on Hand and in Banks P 500,000 80% Accounts Receivable 2,400,300 7. Inventories at end of period Allowance for Bad Debts P. 120,000 Raw Materials P200,000 Finished Goods Inventory 320,000 Work in Process 140,000 Work in Process Inventory 400,000 Finished Goods 260,000 Raw Materials Inventory 300,000 Factory Supplies 20,000 Machinery and Equipment 2,000,000 Accumulated Depreciation-Machinery & Eqpt. 1:400,000 Furniture and Fixtures 300,000 Accumulated Depreciation-Furniture & Fixtures 30,000 Tools 240,000 Patents 600,000 Accounts Payable 610,000 Lina, Drawing 200,000 Lina, Capital 6,000,000 Sales - 9,000,300 Raw Materials Purchases 3,500,000 Raw Materials Returns and Allowances 51,000 Direct Labor 2,600,000 / Indirect Materials 220,000 Indirect Labor . 450,000 Light and Power 200,000 Insurance Expense 250,000 Repairs and Maintenance 60,000 Miscellaneous Expense-Factory 80,000 Advertising Expense 220,000 Sales Salaries Want280,000- Sales Commission ASA 300,000 Store Supplies Expense- 170,000 Miscellaneous Selling Expense 80,000 Office Salaries 220,000 Office Supplies Expense * 110,000- Miscellaneous General Expense 151,000. Factory Supplies Expense -60,000 / P 16.211,300 P 16,211,300