Worksheet preparation

SECTION: SCORE: PROFESSOR: Problem #4 Worksheet Preparation or t The May 31, 2020 trial balance for lly Abella Surveyors is presented as follows: lly Abella Surveyors Trial Balance May 31, 2020 P210,000 930,000 360,000 270,000 1,890,000 Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Abella, Capital Abella, Withdrawals Survey Revenues Salaries Expense Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense Totals P 640,000 190,000 120,000 500,000 1,120,000 700,000 6,510,000 3,270,000 960,000 250,000 160,000 80,000 P9,080,000 P9,080,000 a. The following information pertaining to the year-end adjustments is available: The P360,000 prepaid advertising represents expenditure made on Nov. 1, 2019 for monthly advertising over the next 18 months. b. A count of the engineering supplies at May 31, 2020 amounted to P90,000. c. Depreciation on the surveying equipment amounted to P160,000. d. One-third of the unearned survey revenues has been earned at year-end. e. At year-end, salaries in the amount of P140,000 have accrued. f. Interest of P60,000 on the notes payable has accrued at year-end. | Required: Prepare the adjustments on the worksheet and complete the worksheet. Weddings "R" Us Worksheet For the Month Ended May 31, 2020 Balance Sheet Debit Credit Trial Balance Debit Credit 22,200 12,000 18,000 8,000 14,400 420,000 1. 60,000 Adjustments Adjusted Trial Balance Income Statement Debit Credit Debit Credit Debit Credit 22,200 5,300 17,300 C. 3,000 15,000 4,000 4,000 b. 1,200 13,200 420,000 d. 4,000 4,000 60,000 e. 1,000 1,000 210,000 53,000 g 1,800 1.800 1,400 h. 3,500 3,500 4,000 6,000 250,000 14,000 210,000 53,000 No. Account Title 110 Cash 120 Accounts Receivable 130 Supplies 140 Prepaid Rent 150 Prepaid Insurance 160 Service Vehicle 165 Accu. Depn.-Service Vehicle 170 Office Equipment 175 Accu. Depn.-Office Equipment 210 Notes Payable 20 Accounts Payable 30 Salaries Payable 40 Utilities Payable FO Interest Payable 0 Unearned Referral Revenues Besario, Capital Besario, Withdrawals Income Summary Consulting Revenues Referral Revenues Salaries Expenses Supplies Expense Rent Expense Insurance Expense Utilities Expense Depreciation Exp.-Service Vehicle epreciation Exp.-Office Equipt. Tiscellaneous Expense terest Expense 1,400 10,000 f. 250,000 14,000 62,400 i. f. 5,300 4,000 67,700 4,000 13,800 C. 1,800 3,000 4,000 1,200 a. b. 15,600 3,000 4,000 1,200 4,400 4,000 1,000 4,400 d. 4,000 1,000 e. h. 3,500 27,800 586,800 586,800 27,800 3,500 602,400 602,400 Exhibit 5-3 Adjusted Trial Balance