WORKSHEET AND FINANCIAL STATEMENTS

The following account balances, before adjustments, were taken from the ledger of John Wick on December $31,2023.$

$\backslash$table$[[$Cash$,$P$542,500],[$Notes Receivable,$175,000],[$Accounts Receivable,$210,000],[$Unused Office Supplies,$63,000],[$Prepaid Rent,$105,000],[$Office Equipment,$210,000],[$Furniture and Fixture,$140,000],[$Accumulated Depreciation$-$Office Equipment,$35,000],[$Accummulatedd Depreciation$-$ Furniture &$,],[$Fixtures$,24,500],[$Notes Payable,$87,500],[$Loans Payable$-$Bank,$350,000],[$Unearned Professional Fees,$70,000],[$Professional Fees,$892,500],[$Wick$,$ Capital,$355,600],[$Wick$,$ Withdrawal,$73,500],[$Salaries Expense,$189,000],[$Transportation Expense,$28,000],[$Advertising Expense,$24,500],[$Light and Water Expense,$15,750],[$Telephone Expense,$31,500],[$Miscellaneous Expense,$21,350],[$Allowance for Doubtful Accounts,$14,000]]$

Data for Adjustments:

Supplies on hand December $31,2023,$ P$15,750$

Doubtful accounts for the year, $P7,000.$

Prepaid rent, P$35,000.$

Annual depreciation: Office equipment $-20\%$; Furniture & Fixtures $-10\%$

Accrued interest on loans payable, $P31,500$

Accrued interest on notes receivable, $P12,250$

Unearned Professional Fees, P$17,500$

Accrued Salaries, P$24,500.$

Prepaid Advertising, P$3,500$

Accrued telephone expense, P$5,250.$

Requirements:

Prepare adjusting entries on December $31,2023$

Prepare $10-$column worksheet.

Prepare Statement of Profit or Loss for the year ended December $31,2023$

Prepare Statement of Changes in Equity

Prepare Statement of Financial Position as of December $31,2023.$