The unadjusted trial balance of the E. SANTOS COMPANY for December 31, 2017 follows: e. Interest amounting

The unadjusted trial balance of the E. SANTOS COMPANY for December 31, 2017 follows:

Transcribed Image Text:

e. Interest amounting to P252,000 has accrued on notes payable. P 504,000 789,000 144,000 357,000 530,000 1,250,000 Prepare the adjustments on the worksheet and complete the worksheet. d. Accrued salaries at year-end amounted to P27,000. Cash Accounts Receivable Prepaid Rent Cooking Supplies Land Building Accumulated Depreciation-Building Cooking Equipment Accumulated Depreciation-Cooking Equipment Notes Payable Accounts Payable P 413,000 870,000 212,000 1,400,000 117,000 1,435,000 Palaganas, Capital Palaganas, Withdrawals Gourmet Cooking Revenues Salaries Expense 240,000 2,256,000 619,000 127,000 215,000 Travel Expense Advertising Expense Insurance Expense Utilities Expense 40,000 102,000 Miscellaneous Expense 46,000 Totals P5,833,000 P5,833,000 Additional information: a. One-half of the prepaid rent has expired. 0. Cooking supplies on hand at year-end amounted to P25,000. . Depreciation on the building and on the cooking equipment amounted to P28,000 and P52,000, respectively. Required: e. Interest amounting to P252,000 has accrued on notes payable. P 504,000 789,000 144,000 357,000 530,000 1,250,000 Prepare the adjustments on the worksheet and complete the worksheet. d. Accrued salaries at year-end amounted to P27,000. Cash Accounts Receivable Prepaid Rent Cooking Supplies Land Building Accumulated Depreciation-Building Cooking Equipment Accumulated Depreciation-Cooking Equipment Notes Payable Accounts Payable P 413,000 870,000 212,000 1,400,000 117,000 1,435,000 Palaganas, Capital Palaganas, Withdrawals Gourmet Cooking Revenues Salaries Expense 240,000 2,256,000 619,000 127,000 215,000 Travel Expense Advertising Expense Insurance Expense Utilities Expense 40,000 102,000 Miscellaneous Expense 46,000 Totals P5,833,000 P5,833,000 Additional information: a. One-half of the prepaid rent has expired. 0. Cooking supplies on hand at year-end amounted to P25,000. . Depreciation on the building and on the cooking equipment amounted to P28,000 and P52,000, respectively. Required:

Answer rating: 100% (QA)

Worksheet is a 10 column sheet which shows unadjusted balances of general ledger accounts then adjus... View the full answer