Please answer it (COMPLETELY) all of the activities.

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what information?

Activity 3. Preparation of Single-Single Income Statement (Difficult). Solve for the requirement in each of the following case problems. Write your solution and answer on the space provided. Case 1. Following is the unadjusted trial balance for Alonzo Institute as of December 31, 2015, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The Institute provides one-on-one training to individuals who pay tuition directly to the business and offers extension training to groups in off-site locations. Shown after the trial balance are items a through h that require adjusting entries as of December 31, 2015. Additional Information Items a. An analysis of the Institute's insurance policies shows that Php9,500 of coverage has expired. An inventory count shows that teaching supplies costing Php20,000 are available at year-end 2015. Annual depreciation on the equipment is Php5,000 d. Annual depreciation on the professional library is Php2,400. c. On November 1, the Institute agreed to do a special five-month course (starting immediately) for a client. The contract calls for a Php14,300 monthly fee, and the client paid the first two months' fees in advance, c. f. When the cash was received, the Unearned Training Fees account was credited. The last two months' fees will be recorded when collected in 2016. On October 15, the Institute agreed to teach a four-month class (beginning immediately) to an individual for Php2,300 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (The Institute's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) The Institute's only employce is paid weekly. As of the end of the year, three days salaries have accrued at the rate of Php 150 per day. The balance in the Prepaid Rent account represents rent for December. g. h. ALONZO INSTITUTE Unadjusted Trial Balance December 31, 2015 Credit Dobit 60.000 o 70,000 19.000 3 000 12.000 2 500 40.000 Cash Accounts receivable s Teaching supplies Propicisan Fredd rent Putousan! Hvary * Accumulated che precision-Professuna library Euprot 1 Ace muntes depreciation -- Equprent Accounts payablo Salarnes peryalde * Uretraatiny lues C. Anzo, Capital C. Alonzo. Withchat als Tuition fees earned Tanany teenud Deprecation expense Protessional diary Depreciation expere - Equipment 25 Salones experts true expense La Font capens Teaching supplies expose Athvertising expense Uites experts 20.000 11.200 C 28 800 71.500 20.000 129.200 68.000 o 44.200 29.60X) 0 19.000 13.400 33100 331 000 Totals Required: 1. Prepare the necessary adjusting journal entries for items a through h, and post them to the T-accounts. Assume that adjusting entries are made only at year-end. 2. Prepare the company's income statement using single-step format. 3. Use a separate sheet of paper for your solution. Attach your answer to this activity sheet upon submission. ALOW2O INSTITUTE Unadjusted Trial Balance December 31, 2015 Derbit Credit 60,000 Accorinta recevable Teaching staples PraxIlswande 19.000 3.800 2.500 20,000 .... Professic! byty Accumulated depreciation - Protegsenal library Equipment Accumulate depreciations - Equipment Accounts payable Sziarios fanyable erred trating fees C. Aor120. Capital C. Alonzo, Withcirivial Tution for earthed Traising fastered Deprecation experise Professionat dibrany Dabacation expense Equipment Salaries experise frusurance Kens 20.000 Searned with Cams caninr: 0 Teaching supplies expose Advertising expense Tutaks Case 2 Below is the adjusted trial balance of CoronaV Merchandising as of December 31, 2020. Required: 1. Prepare the income statement of the company using single-step format. 2. Prepare the necessary notes to income statement in a separate worksheet. Corono V Merchandising Adjusted Trial Balance December 31, 2020 Credit Debit 34,400 32,000 4,000 75,900 22,000 60,000 15,000 35,000 7,000 10,000 1,000 Cash Merchandise inventory Inventory returns estimated Store equipment Accumulated depreciation-store equipment Office equipment Accumulated depreciation office equipment Accounts payable Sales refund payable Notes payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Selling expenses General and administrative expenses Interest expense Total 109,700 48,000 325,000 cs Scanned with CamScanner 6,000 16,500 195,000 32,500 19,800 600 524,700 524,700