PROBLEM 02 The following is the date before the year-end adjustments of Magi Hysteria Ville:

Debits Credits

Cash 112,880.00 Accounts Receivable 15,450.00 Supplies 2,780.00 Prepaid Insurance 3,800.00 Office Equipment 55,800.00 Accumulated Depreciation 28,260.00 Salaries and Wages Payable Unearned Fees 9,550.00 Fees Earned 90,350.00 Salaries and Wages Expense 49.820.00 Depreciation Expense Supplies Expense Insurance Expense A. Prepare Adjustment Entries as per the following year-end adjustments: 1. Unbilled fees at December 31,2022 P3,650.00 2. Salaries and wages earned but not paid at December 31 P5,350.00 3. Supplies on hand at December 31,2022 P2,275.00 4. Depreciation of office equipment for the year P3,550.00 5. Insurance expired during the year P1,800.00 6. Unearned fees at December 31 P2,450.00

PROBLEM 03 The following is the trial balance of Arnold Corporation at December 31, 2021 after the year-end adjustments were made. Journalize the necessary closing entries

Debits Credits

Cash 13,750.00 Accounts Receivable 10,250.00 Supplies 1,250.00 Prepaid Insurance 700.00 Office Equipment 42,500.00 Accumulated Depreciation 8,595.00 Accounts Payable 3,250.00 Salaries and Wages Payable 21,150.00 Unearned Fees 11,350.00 Capital Stock 125,000.00 Retained Earnings 27,050.00 Dividends 20,000.00 Fees Earned 93,850.00 Salaries And Wages Expense 53,324.00 Rent Expense 54,111.00 Depreciation Expense 12,780.00 Supplies Expense 35,475.00 Insurance Expense 12,400.00 Telephone Expense 12,700.00 Utilities Expense 12,600.00 Miscellaneous Expense 8,405.00