WEEK 8: PREPARATION OF WORKSHEET (Page 338 : 8-4) Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank P 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account P 1,200.00 Unused Supplies 15,000.00 8,500.00 Prepaid Insurance Prepaid Rent Delivery Truck 30,000.00 1,500,000.00 Accumulated Depreciation -Delivery Truck 250,000.00 Accounts Payable 130,000.00 P. Cajegas, Capital P. Cajegas , Drawing Trucking Income Taxes and Licenses 1,818,500.00 50,000.00 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 25,000.00 Retainers Fee Salaries and Wages 320,000.00 Utilities Expenses 8,200.00 Total 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a. ) Adjusting entries (to guide you in the completion of worksheet) b. )A 10-column worksheet
WEEK 8: PREPARATION OF WORKSHEET (Page 338 : 8-4) Cajegas Trucking Services Trial Balance June 30, 2021 Debit Credit Cash in Bank P 1,020,000.00 Petty cash Fund 1,000.00 Accounts Receivable 120,000.00 Estimated Uncollectible Account P 1,200.00 Unused Supplies 15,000.00 8,500.00 Prepaid Insurance Prepaid Rent Delivery Truck 30,000.00 1,500,000.00 Accumulated Depreciation -Delivery Truck 250,000.00 Accounts Payable 130,000.00 P. Cajegas, Capital P. Cajegas , Drawing Trucking Income Taxes and Licenses 1,818,500.00 50,000.00 935,000.00 10,000.00 Repairs and Maintenance 27,000.00 25,000.00 Retainers Fee Salaries and Wages 320,000.00 Utilities Expenses 8,200.00 Total 3,134,700.00 P 3,134,700.00 Additional Information 1.) Provision for uncollectible account should be 2% of the outstanding receivable account. 2.) Supplies actually on hand, P5,000 3.) Of the prepaid insurance, P 6,200 has actually expired 4.) P 18,000 of the prepaid rental has expired 5.) Depreciation expense for the period is P 105,000. Required: a. ) Adjusting entries (to guide you in the completion of worksheet) b. )A 10-column worksheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![5:59 b
18
77
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WEEK 8:
PREPARATION OF WORKSHEET
(Page 338 : 8-4)
Cajegas Trucking Services
Trial Balance
June 30, 2021
Debit
Credit
1,020,000.00
Cash in Bank
Petty cash Fund
Accounts Receivable
P
1,000.00
120,000.00
Estimated Uncollectible Account
1,200.00
Unused Supplies
Prepaid Insurance
Prepaid Rent
15,000.00
8,500.00
30,000.00
Delivery Truck
Accumulated Depreciation -Delivery Truck
Accounts Payable
P. Cajegas, Capital
P. Cajegas , Drawing
1,500,000.00
250,000.00
130,000.00
1,818,500.00
50,000.00
Trucking Income
Taxes and Licenses
935,000.00
10,000.00
Repairs and Maintenance
27,000.00
Retainers Fee
25,000.00
Salaries and Wages
Utilities Expenses
320,000.00
8,200.00
Total
3.134,700.00
P 3.134.70o0.00
Additional Information
1.) Provision for uncollectible account should be 2% of the outstanding receivable account.
2.) Supplies actually on hand, P5,000
3.) Of the prepaid insurance, P 6,200 has actually expired
4.) P 18,000 of the prepaid rental has expired
5.) Depreciation expense for the period is P 105,000.
Required:
a. ) Adjusting entries (to guide you in the completion of worksheet)
b. ) A 10-column worksheet
DO
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Transcribed Image Text:5:59 b
18
77
* l B/s
Edit
2
WEEK 8:
PREPARATION OF WORKSHEET
(Page 338 : 8-4)
Cajegas Trucking Services
Trial Balance
June 30, 2021
Debit
Credit
1,020,000.00
Cash in Bank
Petty cash Fund
Accounts Receivable
P
1,000.00
120,000.00
Estimated Uncollectible Account
1,200.00
Unused Supplies
Prepaid Insurance
Prepaid Rent
15,000.00
8,500.00
30,000.00
Delivery Truck
Accumulated Depreciation -Delivery Truck
Accounts Payable
P. Cajegas, Capital
P. Cajegas , Drawing
1,500,000.00
250,000.00
130,000.00
1,818,500.00
50,000.00
Trucking Income
Taxes and Licenses
935,000.00
10,000.00
Repairs and Maintenance
27,000.00
Retainers Fee
25,000.00
Salaries and Wages
Utilities Expenses
320,000.00
8,200.00
Total
3.134,700.00
P 3.134.70o0.00
Additional Information
1.) Provision for uncollectible account should be 2% of the outstanding receivable account.
2.) Supplies actually on hand, P5,000
3.) Of the prepaid insurance, P 6,200 has actually expired
4.) P 18,000 of the prepaid rental has expired
5.) Depreciation expense for the period is P 105,000.
Required:
a. ) Adjusting entries (to guide you in the completion of worksheet)
b. ) A 10-column worksheet
DO
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Which would be the best option for him if he is willing to leave his money in this bank for
1 year?
Name:
Course Code:
Year and Set:
Facilitator:
Activity 1: complete the Table for the computation of the Present value and Future Value of
Single Payments. Show your solution.
Раyment
Annual Rate
Years
Term
Present value Future Value
Ex. 100,000
4%
2
CA
92455.62
108,160
1. 50,000
15%
7
CA
2. 70,000
8%
CSA
3. 90,000
12%
3
CQ
4. 125,000
36%
2
CM
5. 200.000
20%
5
CSA
DO
Dם
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Share
8](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30a66632-0cc9-41f2-a186-644d54436cbd%2Fe31cea5d-6bca-4d96-bba4-b8c4e2df9866%2F1o8epmu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5:59 b
104 1
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77
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Export PDF as long image without
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Export
Which would be the best option for him if he is willing to leave his money in this bank for
1 year?
Name:
Course Code:
Year and Set:
Facilitator:
Activity 1: complete the Table for the computation of the Present value and Future Value of
Single Payments. Show your solution.
Раyment
Annual Rate
Years
Term
Present value Future Value
Ex. 100,000
4%
2
CA
92455.62
108,160
1. 50,000
15%
7
CA
2. 70,000
8%
CSA
3. 90,000
12%
3
CQ
4. 125,000
36%
2
CM
5. 200.000
20%
5
CSA
DO
Dם
Tools
Mobile View
Share
8
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