Accounts Adjustments Adjusted Trial balance Income Statement Balance Sheet DR CR DR CR DR CR DR CR Lugue Consulting Co. Unadjusted Trial Balance October 31, 2018 DR CR 371,195 158,620 23,000 14,600 24,000 385,000 255,000 64,500 SET A 12% yearly Cash Accounts Receivable Notes Receivable Office Supplies Prepaid Insurance Land Office Furniture and Equipment Computer Equipment Accounts Payable Notes Payable Unearned Revenue Ms. Lugue, Capital Consulting Revenue Salaries Expense Rent Expense Repair Expense Utilities Expense Miscellaneous Expense 133,900 231,000 34,500 761,500 208,015 36,000 21,500 2,500 9,500 3,500 1,368,915 1,368,915 TOTAL NET PROFIT/LOSS The following information pertaining to the year-end adjustments: a. Office Supplies on hand at October 31, 2018 amounted to P2000 b. Solve for the accrued expense of the Notes Payable. The Notes are payable in 2 years with 12% interest per annum. c. Determine that 1/3 of the unearned revenue of seminar was earned at the end of the month. REQUIRED: 1. Prepare the adjustments using Worksheet 2. Prepare the Adjusted Trial Balance using Worksheet 3. Prepare the Income Statement using Worksheet and separate sheet with the proper format 4. Prepare the Balance Sheet using Worksheet and separate sheet with the proper format (Report form) 5. Prepare the closing entries d. The notes receivable were accepted from client last September 30, 2018. The notes will be settled with 4% interest on January 31, 2019. Compute for the accrued intrest income e. Solve for the depreciation of Non Current Assets using the following information. Asset Salvage Value Useful life Office Furniture & Eqpt P25000 5 years Computer P5600 5 years Note: Non-current assets were purchased last month. f. Company made a payment for 1 year coverage of insurance last September 1, 2018. Compute for the expired portion. Use the additional accounts Interest Receivable Office Supplies expense Interest Income Depreciation expense Interest Expense Accumulated Depreciation Interest Payable Other Revenue Insurance Expense