PROVIDE THE ADJUSTING ENTRIES AND FINANCIAL STATEMENT.

The following accounts, together with their normal balances as of September 30th, were extracted from the records of ABC cleaning services.

Code Title Amount (Php)
111 Cash 58,940.00
112 Accounts Receivable 132,470.00
115 Prepaid Insurance 17,000.00
116 Cleaning Supplies 36,870.00
141 Land 90,000.00
142 Building 810,000.00
143 Acc. Dep'n. - Building 202,800.00
144 Delivery Truck 115,000.00
145 Acc. Dep'n. - Delivery Truck 26,000.00
212 Accounts Payable 102,000.00
215 Unearned Dry Cleaning Revenue 8,000.00
221 Mortgage Payable 600,000.00
311 ABC, Capital 282,000.00
312 ABC, Drawings 100,000.00
411 Dry Cleaning Revenue 601,670.00
412 Laundry Revenues 186,500.00
511 Cleaning Services Expense 325,600.00
512 Sales and Delivery Expense 181,050.00
513 Cleaning Equipment expense 30,000.00
514 Delivery Truck Maintenance Expense 21,870.00
519 Interest Expense 55,000.00
520 Other Expenses 35,170.00

Code	Title
111	Cash
112	AR
113	Inventory
114	NR
115	Prepayments
121	Security Deposit
122	PPE
123	Land
211	AP
212	NP
213	Payables
214	Unearned
311	OE
322	Drawing
401	Revenue
511	Purchase
512	Freight In
523	Salaries
524	Utilities
525	Rent
526	Licenses and Fees
527	Insurance
528	RPT

Additional Information:

Additional Information:

a. An analysis of the insurance policies found that 3,400 are still valid
b. A physical inventory revealed that there were still 6,220 cleaning products on hand
c. The annual depreciation of the structure is 43,000, whereas that of the delivery truck is 21,000.
d. Interest accrued on the mortgage payable is 5,000
e. On August 1, the company signed a deal with a nearby hospital, starting immediately, to dry clean the doctors' uniforms for a monthly fee of 2,000. The hospital paid in advance for four months of service.
f. Unrecorded Cleaning services expenses amounted to 9,820
g. Saturdays are used to pay sales and delivery salaries. The pay period is six days, and the weekly payroll is 4,800. The 30th of September just so happens to fall on a Monday.

Answer rating: 100% (QA)

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