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39 Statement users need accounting to be able to (1 Point) minimize losses prepare reports make sound decisions Interpret the results of the reports On June 1, 2020, Mugunghwa Kkoci Pieot Seumnida (MKPS) Company bought an additional equipment to produce bulk orders of marbles for P15,000 with scrap value of P1,500 The equipment has an estimated life of 5 years. On December 31, 2021, how much is the total accumulated depreciation related to this equipment? (1 Point Enter your ansv. Mugungwa kkochi Log Sautida (MKPS) Company Trial Belande December 31, 2019 PERDOO 50.000 5.000 IS DOO 10.800 Cash Accounts Receivable Prepaid insurance Supplies Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Abad, Capital Service Revende Salaries Expense Rent 20.00 50.00 $3.00 16.000 20.000 DAAG TOTAT - If the estimated depreciation for office equipment is at an annual rate of 10%, the adjusting entry would contain a (1 Point) Credit to Office Equipment for P 2,000. Credit to Depreciation Expense - Office Equipment for P 4,000. Credit to Accumulated Depreciation - Office Equipment for P 2,000. Credit to Accumulated Depreciation - Office Equipment for P 4,000 2 Mugunghwa Kkoci Pieot Seumnida (MKPS) Company has provided the following information regarding ticket sales and collections to their amusement park from August to October: Cash received in October, for September booking = P2,300,000 Cash received in September, for October booking = P2,100,000 Cash received in August, for September booking = P1,800,000 Casli received in September, for September booking = P3,600,000 Under the Accrual Basis, determine how much revenue should be reported for September? (1 Point) Enter your answer 72 Mugunghwa Kkochi Pieot Seumnida (MKPS) Company estimates that P20,000 of its P500,000 of Accounts Receivable will be uncollectible. Its Allowance for Doubtful Accounts presently has a credit balance of P18,000. The adjusting entry will include a to Bad Debts Expense. * (1 Point) Debit of P2,000 Credit of P2,000 Debit of P38,000 Credit of P38,000