COLLEGE OF BUSINESS and MANAGEMENT

Bookkeeping

Final Examination

Summer 2020-21

Name: Laurence Key C. Liston Date: August, 2021

Course & Year: BSBA-FM 3rd year CollegeScore:

1- IDENTIFICATION: Mark X under which financial statements the following account titles are classified.

Account Titles Income Statement Balance Sheet

1. Cash on hand

2. Accounts payable

3. Service fees earned

4. Accounts receivable

5. Prepaid insurance

6. Rent expense

7. Salary expense

8. Notes payable

9. Office supplies on hand

10. Interest income

11. Land

12. Building

13. Accumulated depreciation

14. Depreciation - building

15. Bad debts

16. Office supplies used

17. Furniture and fixtures

18. Cash in bank

19. Advertising expense

20. Allowance for bad debts

21. B. Valdez, capital

22. B. Valdez, drawing

23. Unearned service fees

24. Accrued salaries

25. Accrued income

11- PREPARATION OF FINANCIAL STATEMENTS: The following is the adjusted trial balance of Dr. V. Perez for the month of December 31, 200A.

Dr. V. Perez

Adjusted Trial Balance

December 31, 200A

Accounts Debit Credit

Cash P35,000

Fees receivable 16,500

Allowance for uncollectible fees P2,500

Prepaid insurance 5,500

Medical supplies on hand 9,800

Prepaid rent 10,000

Medical equipment and instruments 180,000

Accumulated depreciation - medical ... 18,000

Automobile 250,000

Accumulated depreciation - automobile 30,000

Furniture and fixture 120,000

Accumulated depreciation - furniture ... 8,000

Accounts payable 4,000

Dr. Perez, capital 500,000

Dr. Perez, drawing 10,000

Professional fees income 170,800

Attendant's salary 30,000

Rent expense 27,000

Utilities expense 12,000

Car driver's car 15,000

Repairs and maintenance 5,000

Gas and oil 5,000

Taxes and licenses 2,500

P733,300

======= P733,300

========

26-34) Prepare the Single Step Income Statement.

35-50) Prepare the Report Form Balance Sheet.

Nothing follows!