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Please answer it asap Activity 10: Worksheet Preparation The May 31, 2013 trial balance for Lucena Bacalso Surveyors is presented as follows: Lucena Bacalso Surveyors
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Activity 10: Worksheet Preparation The May 31, 2013 trial balance for Lucena Bacalso Surveyors is presented as follows: Lucena Bacalso Surveyors Trial Balance May 31, 2013 Cash Php 210,000 Accounts Receivable 930,000 Prepaid Advertising 360,000 Engineering Supplies 270,000 Survey Equipment 1,890,000 Accum. Depreciation - Survey Equipt. Php 640,000 190,000 Accounts Payable Unearned Survey Revenues 120,000 Notes Payable 500,000 Bacalso, Capital 1,120,000 Bacalso Withdrawals 700,000 Survey Revenues 6,510,000 Salaries Expense 3,270,000 Rent Expense 960,000 Insurance Expense 250,000 Utilities Expense 160,000 80,000 Miscellaneous Expense Totals Php 9,080,000 Php 9,080,000 The following information pertaining to the year-end adjustments is available: a. The Php360,000 prepaid advertisements represents expenditure made on Nov. 1, 2012 for monthly advertising over the next 18 months. b. A count of engineering supplies at May 31, 2013 amounted to Php90,000. c. Depreciation on the surveying equipment amounted to Php160,000. d. One-third of the unearned survey revenues has been earned at year-end. e. At year-end, salaries in the amount of Php140,000 have accrued. f. Interest of Php60,000 on the notes payable has accrued at year end. Required: 1. Write your answer (adjusting entries) on a yellow pad. Capture or scan copy your answer and submit it on a .pdf format on the submission module provided. Follow the prescribed format as discussed during our online session. File name: "Surname" - Activity 10A 2. Using an Excel File, create and complete a worksheet template and apply the adjustments on Sheet 1. Rename Sheet 1 to "Worksheet". On Sheet 2, create the different financial statements such as Income Statement, Balance Sheet Statement, and Statement of Changes in Equity. Rename Sheet 2 to "Financial Statements". 3. Submit your answer on a .xlsx file format with a file name: "Surname" - Activity 10B. Deadline will be on or before June 18, 2022, 11:00 pmStep by Step Solution
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