1) official receipt #2006 -P262,000

2) official receipt #2007-P60,000

3) official receipt #2008-P37,00

4) official receipt #2009-P350,000

1)Check Disbursment Voucher #03455-P100,000

2) CDV #03456-P20,000

3) CDV #03457-P45,000

4) CDV #03458-P150,000

1)Check Disbursment Voucher #03459-P15,000

2) CDV #03460-P75,000

3) CDV #03461-P5,000

4) CDV #03462-P45,000

Accounting Practice Set Learning Competencies The leamers should be able to 1. Perform the steps in the accounting gde, from preparation of documents to the preparation, analysis, and interpretation of financial statements Practice Set The November 30, 20x1 trial balance of Rak N' Koll Co, a call center business, shows the following information: RAK N' KOLL Trial Balance November 30, 2011 Credit Debit 340,000 1,400,000 ACCOUNTS Cash Accounts receivable Prepaid insurance Computer equipment Accumulated depreciation Loans payable Owner's equity Owner's drawings Service fees Salaries expense Rent expense Utilities expense Office supplies expense Insurance expense Totais 240,000 1,000,000 1,254,000 3,300,000 4,890,000 990,000 1,100,000 165,000 84,000 5,000 7,384,000 7,384,000 WHAT 333 RAKN KOLL RUKOL VILLE E CITS Te RAKN KOLL OFFICIAL RECEIPT line OFFICIAL RECEPT De Pode sy www. 249.00 In de TROCAR MODERNE MERLINE WOL RAKN KOLL RANN KOLL FROAD, KROT CITE TEL. RAKN KOLL TIL 2009 OFFICIAL RECEIPT OFFICIAL RECEPT DADO e Shades MONFORTE TO OS CHECK DISBURSEMENT VOUCHER RAKN KOLL CHECK. DUISBURSEMENT VOUCHER RAKN KOLL Hair Jovan Duilding Ms. - - One Hundred Thousand pesos Forty-Five Thousand Pesos GRY RAKN KOLL CHECK DISBURSEMENT VOUCE 12/09/20 03456 CHECK DISBURSEMENT VOUCHER RAKN' KOLL 12/ Bamboo Trading Powo Cutos. Dette Twenty Thousand pesos One Hundred Fifty Thousand Pets IRRIGA RAKN KOLL 123 RAKN KOLL CHEUX DISBURSEMENT VOUCHER 0345 Tinte CHECK DISBURSEMENT VOSSA LSINA 15 Mang Bany SEMISEL Fifteen Thousand pesos Cheday Five Thousand Peces ENCE BESLIGA SURE CHECK DISBURSEMENT VOUCE CHECK DISBURSEMENT VOUCHER RAKN KOLL 12/23/2001 RAKN KOLL OVE Oder 03462 Ms. Kaye Hera - Company Treasure FANCE DE RENKO Seventy-Five Thousand PESOS Ms. Kaye Hara company Tre FEMENINGU Forty Five Thousand Peas rash month par headby Bank statement il it. BANK OF THE PHILIPPINE ISLANDS Account Number Asunt Type Inch Period Cover ! 23-000 Checky Account KULOT CURLY BRANCH 12/12/2017 - 12/11/2011 deposited to the Company's account on the first week of January 2012 Unused office supplies on December 31, 20x1 amount to P9,000. The laptop computers acquired in December have an estimated useful life of 2 years with no residual value. The Company recognizes full-month depreciation in the month of acquisition. The annual depreciation for the existing equipment (excluding the newly acquired laptop computers) is P120,000. The loun payable pertains to a 12% bank loan taken on November 30, 20x1. The principal on the loan is due after five years but monthly interests are due at the beginning of each month starting January 1, 20x2. Although no bills have yet been received, Rak N' Koll wants to accrue 27,500 for unpaid utilities used from December 16 to 31, 20x1. Debih iv. 1000000 45,000.00 Dame Description Red Details NGNNING MULANCE 12/2/2M CHET ENCASHMENT 023 0511189 1/2 OECDEPOSIT 10 Oy 12/15/2 CEOXICAMENT 5 2 611186 12/16 CEOX DEPOSIT 99 lety 12/11/2 COINCAMENT 090 BUSITIK 12/10/2014 CEOX ENCAVIMENT 07 04 0511186 12/21/24 OEOX ENCAYMENT 0320 05111M 12/21/2M CASI DEPOSIT 066 Rakety 12/21/204 CHEOX ENCAMENT 06 00 51119 12/27/1 OECDEPOSIT 077 lety 12/30/1 OEKENCAMENT * 11191 15,000.00 150,000.00 20,000.00 Onde Ndana 340,000.00 200,000.00 262,000.00 0,000.00 657,000.00 0,000.00 50.000.00 500,000.00 252,000.00 32.000.00 37,000.00 1.000.00 234000.00 56.000.000,000.00 305.000.00 75,000.00 45,000.00 Additional information Bank reconciliation Roof Solar, Inc., a customer, has informed the Company of a deposit amounting to P56,000 for call services rendered in December. No Official Receipt has yet been issued to the customer Requirements: a. Analyze the supporting documents and record them in the Journal in a chronological order (ie, arranged by date). b. Post the transactions in the Ledger (use T-accounts), c. Prepare the unadjusted trial balance columns of the December 31, 20x1 worksheet d. Prepare the bank reconciliation for the month of December 20x1. e. Prepare the year-end adjusting entries including the reconciling item(s) from Requirement d'above. f. Complete the remaining columns of the December 31, 20x1 worksheet up to the balance sheet columns. & Prepare the closing entries. h. Prepare the 20x1 statement of financial position, statement of comprehensive Income statement of changes in equity, Additional information Adjusting entries Hedge Fund, Inc, a customer, has been billed for call services rendered in December 20x1 amounting to P3,000. Hedge informed the Company that the check for the said amount is still being processed and is expected to be statement of cash flows and selected notes. (See Particulars below.) Particulars 1. Base your presentation on the illustrative financial staternents in Chapter 1 to 4. 2. Use a classified and a report fornat presentation for the statement of financial position. Make proper cross- referencing to the following 'Notes: 2 Quick (Acid-test) ratio 3. Working capital 4. Debt ratio 5. Equity ratio 6. Debt-to-equity ratio 7. Net profit ratio 8. Return on asets 9. Return on equity (Return on net assets) Notes Line items Cash and cash equivalents Trade and other receivables Prepaid assets Property, plant be equipment Trade and other payables Long-term borrowings 3. Provide additional narrative description in Note 6 for the long-term borrowings 4. Use the following additional information to complete the statement of cash flows. Use the Indirect method of presenting cash flows from operating activities Der 31, 2010 P67,500 Line Items Cash and cash equivalents Trade and other receivables Prepaid assets Trade and other payables Loans payable 34,000 7,500 1. Conipute for the following financial ratios: 1. Current ratio Accounting Practice Set Learning Competencies The leamers should be able to 1. Perform the steps in the accounting gde, from preparation of documents to the preparation, analysis, and interpretation of financial statements Practice Set The November 30, 20x1 trial balance of Rak N' Koll Co, a call center business, shows the following information: RAK N' KOLL Trial Balance November 30, 2011 Credit Debit 340,000 1,400,000 ACCOUNTS Cash Accounts receivable Prepaid insurance Computer equipment Accumulated depreciation Loans payable Owner's equity Owner's drawings Service fees Salaries expense Rent expense Utilities expense Office supplies expense Insurance expense Totais 240,000 1,000,000 1,254,000 3,300,000 4,890,000 990,000 1,100,000 165,000 84,000 5,000 7,384,000 7,384,000 WHAT 333 RAKN KOLL RUKOL VILLE E CITS Te RAKN KOLL OFFICIAL RECEIPT line OFFICIAL RECEPT De Pode sy www. 249.00 In de TROCAR MODERNE MERLINE WOL RAKN KOLL RANN KOLL FROAD, KROT CITE TEL. RAKN KOLL TIL 2009 OFFICIAL RECEIPT OFFICIAL RECEPT DADO e Shades MONFORTE TO OS CHECK DISBURSEMENT VOUCHER RAKN KOLL CHECK. DUISBURSEMENT VOUCHER RAKN KOLL Hair Jovan Duilding Ms. - - One Hundred Thousand pesos Forty-Five Thousand Pesos GRY RAKN KOLL CHECK DISBURSEMENT VOUCE 12/09/20 03456 CHECK DISBURSEMENT VOUCHER RAKN' KOLL 12/ Bamboo Trading Powo Cutos. Dette Twenty Thousand pesos One Hundred Fifty Thousand Pets IRRIGA RAKN KOLL 123 RAKN KOLL CHEUX DISBURSEMENT VOUCHER 0345 Tinte CHECK DISBURSEMENT VOSSA LSINA 15 Mang Bany SEMISEL Fifteen Thousand pesos Cheday Five Thousand Peces ENCE BESLIGA SURE CHECK DISBURSEMENT VOUCE CHECK DISBURSEMENT VOUCHER RAKN KOLL 12/23/2001 RAKN KOLL OVE Oder 03462 Ms. Kaye Hera - Company Treasure FANCE DE RENKO Seventy-Five Thousand PESOS Ms. Kaye Hara company Tre FEMENINGU Forty Five Thousand Peas rash month par headby Bank statement il it. BANK OF THE PHILIPPINE ISLANDS Account Number Asunt Type Inch Period Cover ! 23-000 Checky Account KULOT CURLY BRANCH 12/12/2017 - 12/11/2011 deposited to the Company's account on the first week of January 2012 Unused office supplies on December 31, 20x1 amount to P9,000. The laptop computers acquired in December have an estimated useful life of 2 years with no residual value. The Company recognizes full-month depreciation in the month of acquisition. The annual depreciation for the existing equipment (excluding the newly acquired laptop computers) is P120,000. The loun payable pertains to a 12% bank loan taken on November 30, 20x1. The principal on the loan is due after five years but monthly interests are due at the beginning of each month starting January 1, 20x2. Although no bills have yet been received, Rak N' Koll wants to accrue 27,500 for unpaid utilities used from December 16 to 31, 20x1. Debih iv. 1000000 45,000.00 Dame Description Red Details NGNNING MULANCE 12/2/2M CHET ENCASHMENT 023 0511189 1/2 OECDEPOSIT 10 Oy 12/15/2 CEOXICAMENT 5 2 611186 12/16 CEOX DEPOSIT 99 lety 12/11/2 COINCAMENT 090 BUSITIK 12/10/2014 CEOX ENCAVIMENT 07 04 0511186 12/21/24 OEOX ENCAYMENT 0320 05111M 12/21/2M CASI DEPOSIT 066 Rakety 12/21/204 CHEOX ENCAMENT 06 00 51119 12/27/1 OECDEPOSIT 077 lety 12/30/1 OEKENCAMENT * 11191 15,000.00 150,000.00 20,000.00 Onde Ndana 340,000.00 200,000.00 262,000.00 0,000.00 657,000.00 0,000.00 50.000.00 500,000.00 252,000.00 32.000.00 37,000.00 1.000.00 234000.00 56.000.000,000.00 305.000.00 75,000.00 45,000.00 Additional information Bank reconciliation Roof Solar, Inc., a customer, has informed the Company of a deposit amounting to P56,000 for call services rendered in December. No Official Receipt has yet been issued to the customer Requirements: a. Analyze the supporting documents and record them in the Journal in a chronological order (ie, arranged by date). b. Post the transactions in the Ledger (use T-accounts), c. Prepare the unadjusted trial balance columns of the December 31, 20x1 worksheet d. Prepare the bank reconciliation for the month of December 20x1. e. Prepare the year-end adjusting entries including the reconciling item(s) from Requirement d'above. f. Complete the remaining columns of the December 31, 20x1 worksheet up to the balance sheet columns. & Prepare the closing entries. h. Prepare the 20x1 statement of financial position, statement of comprehensive Income statement of changes in equity, Additional information Adjusting entries Hedge Fund, Inc, a customer, has been billed for call services rendered in December 20x1 amounting to P3,000. Hedge informed the Company that the check for the said amount is still being processed and is expected to be statement of cash flows and selected notes. (See Particulars below.) Particulars 1. Base your presentation on the illustrative financial staternents in Chapter 1 to 4. 2. Use a classified and a report fornat presentation for the statement of financial position. Make proper cross- referencing to the following 'Notes: 2 Quick (Acid-test) ratio 3. Working capital 4. Debt ratio 5. Equity ratio 6. Debt-to-equity ratio 7. Net profit ratio 8. Return on asets 9. Return on equity (Return on net assets) Notes Line items Cash and cash equivalents Trade and other receivables Prepaid assets Property, plant be equipment Trade and other payables Long-term borrowings 3. Provide additional narrative description in Note 6 for the long-term borrowings 4. Use the following additional information to complete the statement of cash flows. Use the Indirect method of presenting cash flows from operating activities Der 31, 2010 P67,500 Line Items Cash and cash equivalents Trade and other receivables Prepaid assets Trade and other payables Loans payable 34,000 7,500 1. Conipute for the following financial ratios: 1. Current ratio