From the above transactions, prepare the following: 1. Journalize adjustments 2. Adjusted Trial Balance 3. Income...

   

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From the above transactions, prepare the following: 1. Journalize adjustments 2. Adjusted Trial Balance 3. Income Statement 4. Balance Shee Cash Accounts Receivable Prepaid Insurance Cleaning Supplies Building Assum. Depreciation Land ROSALIE BALHAG CLEANERS Unadjusted Trial Balance December 31, 2020 Accounts Payable Uneamed Cleaning Revenues Mortgage Payable Balhag, Capital Bathag Withdrawals Cleaning Revenues Salaries Expense Interest Expense Miscellaneous expenses Cleaning Equipment rental expense Transportation expense P117.880 264,540 34,000 73,740 1,850,000 180,000 100,000 1,013,300 110.000 60,000 43,740 3.917.940 70,340 456,000 204,000 15,000 1,100,000 565,600 1,576,340 3,917,940 Additional information: 1. A review of the insurance policies showed that P5,800 is unexpired at the year-end Land Accounts Payable Unearned Cleaning Revenues Mortgage Payable Balhag, Capital Balhag Withdrawals Cleaning Revenues Salaries Expense Interest Expense Miscellaneous expenses Cleaning Equipment rental expense Transportation expense dditional information: 1. 2. 3. 4. 5. 180,000 100,000 1,013,300 110,000 60,000 43,740 P 3,917.940 70,340 204,000 16,000 1,100,000 565,600 1,576,340 P 3,917,940 A review of the insurance policies showed that P6,800 is unexpired at the year-end. An inventory of cleaning supplies is P12,440 on hand. Depreciation on the building for the year is P128,000 Mortgage loan was acquired on Aug with an interest rate of 8% p.a. Salaries are paid on Saturdays. The weekly payroll is P25,200. Assume that December 31 falls on a Thursday and the entity has a six-day pay week. From the above transactions, prepare the following: 1. Journalize adjustments 2. Adjusted Trial Balance 3. Income Statement 4. Balance Shee Cash Accounts Receivable Prepaid Insurance Cleaning Supplies Building Assum. Depreciation Land ROSALIE BALHAG CLEANERS Unadjusted Trial Balance December 31, 2020 Accounts Payable Uneamed Cleaning Revenues Mortgage Payable Balhag, Capital Bathag Withdrawals Cleaning Revenues Salaries Expense Interest Expense Miscellaneous expenses Cleaning Equipment rental expense Transportation expense P117.880 264,540 34,000 73,740 1,850,000 180,000 100,000 1,013,300 110.000 60,000 43,740 3.917.940 70,340 456,000 204,000 15,000 1,100,000 565,600 1,576,340 3,917,940 Additional information: 1. A review of the insurance policies showed that P5,800 is unexpired at the year-end Land Accounts Payable Unearned Cleaning Revenues Mortgage Payable Balhag, Capital Balhag Withdrawals Cleaning Revenues Salaries Expense Interest Expense Miscellaneous expenses Cleaning Equipment rental expense Transportation expense dditional information: 1. 2. 3. 4. 5. 180,000 100,000 1,013,300 110,000 60,000 43,740 P 3,917.940 70,340 204,000 16,000 1,100,000 565,600 1,576,340 P 3,917,940 A review of the insurance policies showed that P6,800 is unexpired at the year-end. An inventory of cleaning supplies is P12,440 on hand. Depreciation on the building for the year is P128,000 Mortgage loan was acquired on Aug with an interest rate of 8% p.a. Salaries are paid on Saturdays. The weekly payroll is P25,200. Assume that December 31 falls on a Thursday and the entity has a six-day pay week.

Answer rating: 100% (QA)

1 Adjustment Entries Date Account title Explanation 2020 31Dec Insurance expenses Prepaid insurance to record insurance expired 31Dec Cleaning Supplie... View the full answer