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Problem 12 just prepare the adjusting entries :)

SCORE: NAME: PROFESSOR SECTION: Problem #10 Preparing Adjusting Entries at Year-End On June 30, 2019, the end of fiscal year, the following information is available to Now Hungria's accountants for making adjusting entries: a. Among the liabilities of the entity is a P2,400,000 mortgage payable. On June 30 the accrued interest on this mortgage amounted to P120,000. b. Assume that on, July 2, a Friday, the entity, which is on a five-day workweek and pays employees weekly, paid its regular salaried employees P192,000. C. On June 29, the entity completed negotiations and signed a contract to provide services to a new client at an annual rate of P36,000. d. The Supplies account showed a beginning balance of P16,150 and purchases during the year of P37,660. The year-end inventory revealed supplies on hand of P11,860. e. The Prepaid Insurance account showed the following entries on June 30: Beginning Balance P15,300 /year April 2019- January 1 29,000 /Hee May 1 33,660 3year The beginning balance represents the unexpired portion of a one-year policy purchased in April of the previous year. The January 1 entry represented a new one year policy, and the May 1 entry is the additional coverage of a three-year policy. f. The following table contains the cost and annual depreciation for buildings and equipment, all of which were purchased before the current year: Account Cost Annual Depreciation Buildings P1,850,000 P 73,000 Equipment 2,180,000 218,000 . On June 1, the entity completed negotiations with another client and accepted an advance of P210,000 for services to be performed in the next year. The P210,000 was credited to Unearned Service Revenues. h. The entity calculated that as at June 30 it had earned P35,000 on a P75,Q0 contract that will be completed and billed in August. Required: Prepare the adjusting entries.Adjusting the Accounts | 4-69 NAME: SCORE: SECTION: PROFESSOR: problem #18 Determining the Effects of Omissions Using the following table, indicate the effect of the following errors of omission on the financial statement classifications listed. If as a result of the omission a classification is overstated, place a (+) in the appropriate space. An understatement is to be indicated by a (-). If the omission has no effect on the classification, place a (o) in the appropriate space. Effect of Omission Classification b C d. e f g Revenues Expenses Profit Total Assets Total Liabilities Owner's Equity a. Payment for repairs erroneously debited to Building account. b. Recorded collection of an account receivable by debiting Cash and crediting a revenue account. C. Depreciation for the month was omitted. d. Recorded twice an acquisition of office equipment on account. e. Recorded the acquisition office equipment for cash as a debit to Office Equipment and a credit to Depreciation Expense. f. Recorded cash payment for advertising by debiting Repairs Expense and crediting Cash. g. Rendered services for cash but made no record of the transaction.4-64 | Basic Financial Accounting and Reporting by Prof. WIN Ballada NA SE SCORE: NAME: PROFESSOR: Pro SECTION: All Problem #12 Preparing Adjusting Entries and an Adjusted Trial Balance paz Presented below, together with account numbers, is the unadjusted trial balance n 18 5 Madelyn Rialubin Travel Agency for the year ended Dec. 31, 2019: Madelyn Rialubin Travel Agency Unadjusted Trial Balance Dec. 31, 2019 P 126,000 110 Cash 645,000 120 Accounts Receivable 360,000 130 Prepaid Rent 63,000 140 Office Supplies 2,175,000 150 Furniture P 435,000 155 Accumulated Depreciation 900,000 210 Notes Payable 285,000 220 Accounts Payable 230 Salaries Payable 240 Interest Payable 310 Rialubin, Capital 1,680,000 320 Rialubin, Withdrawals 1,200,000 410 Travel Revenues 5,133,000 510 Salaries Expense 3,771,000 520 Rent Expense 530 Office Supplies Expense 540 Depreciation Expense $50 Interest Expense 560 Miscellaneous Expense 93,000 Totals P8,433,000 PB, 433,000 Information pertaining to Rialubin's accounts is as follows: a. On Nov. 1, 2019, Rialubin paid Juanita Rabena Realtors P360,000 for six months rent on the office building commencing that date. b. Office supplies on hand at Dec. 31, 2019 amounted to P27,000. C. Depreciation expense for the furniture amounted to P75,000 for the year. d. At Dec. 31, 2019, P105,000 salaries have accrued. e. The P900,000 note payable was issued on Oct. 1, 2019. It will be repaid in 14 months together with interest at an annual rate of 24%. Required:4-68 | Basic Financial Accounting and Reporting by Prof. WIN Ballada SCORE: NAME: PROFESSOR: SECTION: Problem #17 Analyzing Accounts The adjusted trial balances of Clare Rosada Wedding Planner as at Dec. 31, 2020, and Nov. 30, 2020, include these amounts: Dec. 31, 2020. Nov. 30, 2020 19 orP 21,000 P 15,000 Supplies 37,000 Salaries Payable 31,000 Unearned Service Revenues 142,000 163,000 Analysis of the accounts revealed these transactions for December: Supplies purchased P 84,000 Salaries paid 846,000 Cash received in advance for service revenues 1,800,200 Required: Compute the amount of Supplies Expense, Salaries Expense, and Service Revenues to be reported on the Dec. 2020 income statement.4-66 | Basic Financial Accounting and Reporting by Prof. WIN Ballada SCORE: NAME: PROFESSOR: SECTION: Problem #14 Analyzing Accounts The income statement for Narciso Gabayan Events Management included the following expenses for 2019: Rent Expense P 780,000 Interest Expense 117,000nom Salaries Expense 1,245,000 Listed below are the related balance sheet account balances at year end for last year and this year. Last Year This Year Prepaid Rent #93500- P 13,500 Interest Payable P18,000 - 1IT Salaries Payable 75,000 114,000 Required: 1. Compute the cash paid for rent during the year. 2. Compute the cash paid for interest during the year. 3. Compute the cash paid for salaries during the year