This is the trial balance.

G. Insurance was paid on September 28, 2021, covering the period October 1, 2021 to October 1, 2022. 1. What was the entry made by La Guardia upon payment of the insurance? 2. What is the amount of the unexpired insurance at December 31, 2021? 3. What amount of the insurance has expired in the year 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) H. The transportation equipment was acquired on January 1, 2013. It is expected to have an estimated life of 10 years with scrap value of P150,000. 1. What is the amount of the annual depreciation for the transportation equipment? 2. What amount of depreciation should be recognized in 2021? 3. Prepare the necessary adjusting entry. 4. Can the above entry be reversed? (Yes or No) I. The office equipment was acquired on May 1, 2021. It is expected to have an estimated life of 5 years with scrap value of P50,000. 1. What is the amount of the annual depreciation for the transportation equipment? 2. What amount of depreciation should be recognized in 2021? 3. Prepare the necessary adjusting entry. 4. Can the above entry be reversed? (Yes or No) J. Monthly salaries total P12,000. Salaries for December 16-31, 2021 are paid on January 5, 2022. 1. How much salaries have accrued on December 31, 2021? 2. Prepare the necessary adjusting entry. 3. Can the above entry be reversed? (Yes or No) K. Unearned rental income at the end of the period total P7,000. 1. What was the entry made by La Guardia for the advance collection of rental? 2. Of the total amount collected in advance, how much is unearned at December 31, 2021? 3. Of the total amount collected in advance, how much was earned in 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) L. Gas and oil consumed during the period total P48,500. 1. What was the entry made when the gas and oil were purchased? 2. What is the amount of the unused gas and oil at December 31, 2021? 3. What is the amount of the gas and oil used in the year 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) M. Inventory of gas and oil at December 31, 2021 total P1,500. 1. What was the entry made when the gas and oil were purchased? 2. What is the amount of the unused gas and oil at December 31, 2021? 3. What is the amount of the gas and oil used in the year 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) N. The total commissions earned during the period is only P45,000. 1. What was the entry made by La Guardia upon collection commissions? 2. Of the total amount collected in advance, how much is unearned at December 31, 2021? 3. Of the total amount collected in advance, how much was earned in 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) 0. On December 31, 2021, commissions totaling P4,800, were still unearned. 1. What was the entry made by La Guardia upon collection commissions? 2. Of the total amount collected in advance, how much is unearned at December 31, 2021? 3. Of the total amount collected in advance, how much was earned in 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) Credit Debit 59,200.00 24,000.00 2,000.00 120,000.00 8,500.00 7,300.00 1,150,000.00 300,000.00 300,000.00 14,000.00 Cash Accounts receivable Allowance for doubtful accounts Notes receivable Interest receivable Tires and tube inventory Gas and oil inventory Prepaid insurance Transportation equipment Accumulated depreciation - TE Office equipment Accumulated depreciation - OE Accounts payable Accrued salaries expense Unearned rental income Unearned commissions income Labasan, capital Labasan, drawings Rental income Commissions income Interest income Gasoline and oil expense Taxes and licenses expense epreciation expense Doubtful accounts expense Tires and tube expense Salaries expense Insurance expense Repairs and maintenance 10,000.00 1,142,000.00 10,000.00 365,000.00 50,000.00 51,000.00 15,000.00 132,000.00 6,000.00 1,883,000.00 1,883,000.00