https://drive.google.com/drive/folders/15ZMT2PgYAlsVcv0dk_Wh9VSxGrUNpAnR
https://drive.google.com/drive/folders/1--pehYgSKEWFuOfa_JyXPTlpjGWIL76-
https://drive.google.com/drive/folders/1-9rCmh5MP5yCwmQCtZ7dy8qujq96TfLS
- COMPLETING THE ACCOUNTING CYCLE
L Indicate whether the assets [A), liabilities (L], or owner's equity (DE], increased (+), decreased (-1, or did not change (0) by placing the appropriate sign in the appropriate column. TRANSACTION A L DE Made an additional investment in the company 1. Bought equipment, paying cash. Paid the monthly rent expense. Purchased supplies on credit. 1. Paid cash on rent on building. Charged customers for services provided on account. 6 Paid creditor on account. 7. Received payment from customers on account. Received cash for services rendered today. 9 Permanently reduced his investment in the business by taking out cash. 10. Acquired equipment, paying 50% down, the balance due in 30 dayBelow is the post - closing trial balance of Happy Balance Company. Look over the given data and prepare the statement of financial position in report from (Vertical Form) and in account form (Horizontal Form). Happy Balance Company Post - closing Trial Balance December 31, 2019 Account Title Debit Credit Cash P 315, 750.00 Accounts Receivable 450, 450 Allowance for Doubtful P 35, 500.00 Accounts Office Supplies 25, 000 Notes Receivable 180, 750 Land 550, 000 Inventory 890, 560 Prepaid Insurance 12, 000 Building 700, 000 Accumulated Depreciation- 67, 500 Building Delivery Vehicle 1, 200, 000 Accumulated Depreciation 200, 000 -Delivery Vehicle Accounts Payable 951, 210 Notes Payable 525, 000 Salaries Payable 70, 300 Utilities Payable 75, 000 Happy, Capital 2, 400, 000 TOTAL P 4, 324, 510.00 P 4, 324, 510.00 REPORT FORM ( Vertical Form) ACCOUNT FORM (Horizontal Form)Ill. Adjusting entries and adjusted trial balance. The Midoriya Security Services began operation on January 1, 2020. At the end of the first year of operations, the unadjusted trial balance shows the following: Midoriya Security Services Unadjusted Trial Balance December 31, 2020 DEBIT CREDIT Cash P 12, 400 Accounts Receivable 3, 200 Prepaid Insurance 3, 600 Automobiles 58, 000 Notes Payable P 45, 000 Unearned Revenue 2, 500 Midoriya, Capital 18, 000 Service Revenue 84, 000 Salaries Expense 57, 000 Repair Expense 6, 000 Gas and Oil expenses 9, 300 TOTAL P 149, 500 P 149, 500I. Calculate for the total current assets, total noncurrent assets, total current liabilities and total noncurrent liabilities to be shown in the Statement of Financial position of Domino Brothers Inc. Information on the accounts of the Domino Brothers Inc. as of December 31, 2020: [ Solution is required) Cash P30, 000 Accounts Receivable 70, 000 Notes receivable - matures in 4 400, 000 equal annual installments Inventory 150, 000 Equipment 2, 000, 000 Accumulated depreciation- (380,000) equipment Accounts Payable 187, 000 Notes Payable - P100,000 due within 600, 000 1 year Rent payable (due in 2 years) 62, 000 Utilities Payable 30, 000 Interest Payable 25, 000 Salaries payable 90, 000 Unearned Income 750, 000 Domino, Capital 526, 000 Total Current Assets: P Total Noncurrent Assets: P Total Current Liabilities: P Total Noncurrent Liabilities: PUnadjusted Trial Balance Adjusting Entries Adjusted Trial balance Debit Debit Crecht 276.060 50.0Co ". . . 245,060 Accounts Recenable 10,000 5 Office Supplies . " . .. . 10,030 7,500 4 500 3:300 Fumiture and Fixtures 25,000 25 090 Equipment 35,000 35,000 Accounts Payable 32.500 32.500 Notes Parable 60,000 50.007 10 Dr. Woo. Drawings 5,006 5,500 21 Dr. vo, Capital 250.000 250,000 12 Professional Fees 50:000 15,000 75,000 13 Salaries Expense 20.000 25,000 45.000 14 Bent Expense 10.000 10.000 :15 Utilities Expense 4,000 . . .. . 16 Organization Expense 10,000 17 TOTAL 403 50 18 ADJUSTMENTS: 19 Prepaid Insurance 60,000 5,000 55 000 20 Rent Receivable 15,000 35,000 21 Unearned Revenue 15,000 30,000 45,000 25.000 22 Salaries Payable 25,000 .E.... 23 | Rent Revenue 15,830 15,000 24 Bad debt Expense 1,000 1,000 25 Office Supplies Expense 4,500 $ 500 5.000 26 Insurance Expense 5,000 585 27 Depreciation Expense 583 28 Accumulated Depreciation 1:000 29 Allowance for Bad debts 156 083 155.063 30 TOTAL ADJUSTMENTS: 31 TOTAL: accounting side
