Answered step by step
Verified Expert Solution
Question
1 Approved Answer
prepare adjusting entries thank youuu AutoSave H FINALS-BSOM - Protected View - Saved to this PC- O Search Abigael File Home Insert Design Layout References
prepare adjusting entries thank youuu
AutoSave H FINALS-BSOM - Protected View - Saved to this PC- O Search Abigael File Home Insert Design Layout References Mailings Review View Help Share Comments PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X NAYAN STORAGE Trial Balance December 31, 2018 Cash P480,000 56,000 64,000 7,000 360,000 P50,000 700,000 45,000 1,150.000 75,000 Accounts Receivable Prepaid Insurance Office Supplies Office Equipment Accumulated Depreciation - Office equipment Trucks Accumulated Depreciation-Trucks Buildings Accumulated Depreciation-Buildings Accounts Payable Unearned Storage Fees Mortgage Payable Julius Nayan, Capital Julius Nayan, Personal Storage Income Office Salaries Expense Truck Drivers Expense Gas, Oil, and repairs 1,100,000 90,000 40,000 48,000 3,395,000 29,000 493,000 180,000 80,000 30,000 P4, 236,000 P4, 236,000 ======= Adjustment Data: 1. It is estimated that 10% of the accounts receivable is proven to be uncollectible 2. An examination of insurance policies showed that P 14,000 of insurances expired 3. Actual count of office supplies showed a balance of P4,000 4. Fixed assets are 5% depreciated annually 5. Storage fees earned amounted to P38,000 6. Accrued expenses: Office Salaries, P3,500: Truck Drivers' Wages, P4,200| Page 1 of 1 177 words Focus 80% Type here to search | - J' W ^ ) ENG 10:36 pm 04/03/2021Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started