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For Discussion (Finals)

The document provides an unadjusted trial balance for Papa Sa, an interior decorator. It includes accounts for assets, liabilities, equity, revenues and expenses. Adjusting journal entries are provided for rent, depreciation, salaries, interest, bad debts and supplies. A 10-column worksheet is required along with an adjusted trial balance and financial statements.

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Judy Mar Valdez, CPA
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32 views2 pages

For Discussion (Finals)

The document provides an unadjusted trial balance for Papa Sa, an interior decorator. It includes accounts for assets, liabilities, equity, revenues and expenses. Adjusting journal entries are provided for rent, depreciation, salaries, interest, bad debts and supplies. A 10-column worksheet is required along with an adjusted trial balance and financial statements.

Uploaded by

Judy Mar Valdez, CPA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Papa Sa, Interior Decorator

Unadjusted Trial Balance


December 31, 2018

Account Title Debit Credit


Cash P 186,000
Accounts Receivable 71,200
Prepaid Rent 19,200
Equipment 177,500
Accumulated Depreciation – Equipment P 4,750
Accounts Payable 18,750
Notes Payable 12,000
Papa Sa, Capital
300,000
Papa Sa, Drawings 19,000
Professional Fees 276,300
Salaries Expense 82,500
Supplies Expense 17,000
Utilities Expense 37,800
Interest Expense 1,600
Totals
The following are the adjusting entries of Papa Sa, Interior Decorator”
a. Rent Expense P 26,700
Prepaid Rent P 26.700

b. Depreciation Expense 7,125


Accumulated Depreciation 7,125

c. Salaries Expense 12,000


Salaries Payable 12,000

d. Interest Expense 1,400


Interest Payable 1,400

e. Bad debts expense 3,560


Allowance for bad debts 3,560

f. Supplies 5,000
Supplies Expense 5,000

Required:
*Prepare a 10-column worksheet for the year ended December 31, 2011.
Prepare the adjusted trial balance.
Prepare the financial statements.

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