Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please attached the solution of income statement, balance sheet and statement of owner's equity please ? Bohol Pension House Preliminary Trial Balance January 31, 20C

please attached the solution of income statement, balance sheet and statement of owner's equity please ?

image text in transcribed
Bohol Pension House Preliminary Trial Balance January 31, 20C Cash In Bank Peny Cash Fund Debit Credit Accounts Receivable P 180,000 1,500 Estimated Uncollectible Accounts 60,000 Prepaid Insurance P 1,000 Prepaid Interest (Bank Loan) 12,800 Operating Supplies 20,000 Building 58,000 Acc. Depreciation - Building 1,950,000 Furniture and Fixtures 100,000 1,575,000 Acc. Depreciation - Furniture & Fixtures 117,500 Linens and Towels 600,000 Notes Payable (Bank Loan) 785,000 D. Tabaranza, Capital 3,418,500 D. Tabaranza, Drawing 18,000 144,400 Hotel Income 12,880 Taxes and Licenses 12,120 Telephone and Postage 15,000 Laundry Expenses 12.600 Audit & Legal Fees 25,000 Salaries and Wages 13,500 P4.566.400 P4.566.400 Utilities Expense Total Data for Adjustments: al Provision for uncollectible account should be at 5% of the outstanding receivable account. d salaries and wages, P8,000. ") Building is depreciated at 10% while Furniture & Fixtures, 20% annually. d) Interest on bank loan applicable for this period, P5,000. e) Supplies actually on hand, P 1) P800 of the insurance premium paid in advance has expired. ) Cash payment by a customer covered by invoice No. 0085 dated Jan. 31, 20 3,800 was not recorded. (Hotel Income). in the amount of P3,800 Required: Balance Sheet 4) Statement of Owner's Equity 1) An 8-column worksheet 339 2) Income Statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William N. Lanen, Shannon Anderson, Michael W Maher

6th edition

1259969479, 1259565408, 978-1259969478

More Books

Students also viewed these Accounting questions