B. The trial balance columns of the worksheet for B Company at December 31, 2020, are...
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B. The trial balance columns of the worksheet for B Company at December 31, 2020, are as follows: B COMPANY Worksheet For the year ended December 31, 2020 Account titles Cash Accounts receivable Supplies Accounts payable Unearned revenue B, Capital vice revenue Salaries expense Miscellaneous expense Trial Balance Dr P2,320,000 2,440,000 1,880,000 Cr P1,120,000 240,000 3,600,000 2,400,000 560,000 160,000 P7,360,000 P7,360,000 Other data: 1. A physical count reveals P300,000 of supplies on hand. 2. P100,000 of the unearned revenue is still unearned at year-end. 3. Accrued salaries are at P280,000 Instructions: 1. Enter the trial balance on a worksheet and place the adjustments. 2. Prepare a classified statement of financial position. (Classified according to liquidity - current assets, non-current assets, current liabilities, non-current liabilities, equity) B. The trial balance columns of the worksheet for B Company at December 31, 2020, are as follows: B COMPANY Worksheet For the year ended December 31, 2020 Account titles Cash Accounts receivable Supplies Accounts payable Unearned revenue B, Capital vice revenue Salaries expense Miscellaneous expense Trial Balance Dr P2,320,000 2,440,000 1,880,000 Cr P1,120,000 240,000 3,600,000 2,400,000 560,000 160,000 P7,360,000 P7,360,000 Other data: 1. A physical count reveals P300,000 of supplies on hand. 2. P100,000 of the unearned revenue is still unearned at year-end. 3. Accrued salaries are at P280,000 Instructions: 1. Enter the trial balance on a worksheet and place the adjustments. 2. Prepare a classified statement of financial position. (Classified according to liquidity - current assets, non-current assets, current liabilities, non-current liabilities, equity)
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Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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