The Midoriya Security Services began operation on January 1, 2020. At the end of the first year of operations, the unadjusted trial balance shows the following: Midoriya Security Services Unadjusted...

prepare for adjusting entries the given table above is the reference
The Midoriya Security Services began operation on January 1, 2020. At the<br>end of the first year of operations, the unadjusted trial balance shows the<br>following:<br>Midoriya Security Services<br>Unadjusted Trial Balance<br>December 31, 2020<br>Credit<br>Debit<br>P 12, 400<br>3, 200<br>3, 600<br>58, 000<br>Cash<br>Accounts Receivable<br>Prepaid Insurance<br>Automobiles<br>P 45, 000<br>2, 500<br>18, 000<br>84, 000<br>Notes Payable<br>Unearned Revenue<br>Midoriya, Capital<br>Service Revenue<br>Salaries expense<br>Repair expense<br>Gas and oil expenses<br>ТОTAL<br>57, 000<br>6, 000<br>9, 300<br>Р 149, 500<br>P 149, 500<br>Additional information:<br>a. Services provided but unbilled P2, 500 at December 31.<br>b. Insurance coverage began January 1 under a 2- year policy.<br>c. Automobile depreciation is P15, 000 for the year.<br>d. Interest of P5, 4000 accrued on notes payable for the year.<br>e. P1, 000 of the unearned fees has been earned.<br>f. Driver's salaries total P500 per day. At December 31, 3 days salaries are<br>unpaid.<br>g. Repairs to automobiles of P650 have been incurred, but bills have not<br>been received prior to December 31. (Use accounts payable)<br>Instructions:<br>1. Prepare the adjusting entries at December 31, 2020.<br>Adjusting Entry<br>(Ч<br>Credit<br>Debit<br>а.<br>b.<br>С.<br>d.<br>е.<br>f.<br>g.<br>

Extracted text: The Midoriya Security Services began operation on January 1, 2020. At the end of the first year of operations, the unadjusted trial balance shows the following: Midoriya Security Services Unadjusted Trial Balance December 31, 2020 Credit Debit P 12, 400 3, 200 3, 600 58, 000 Cash Accounts Receivable Prepaid Insurance Automobiles P 45, 000 2, 500 18, 000 84, 000 Notes Payable Unearned Revenue Midoriya, Capital Service Revenue Salaries expense Repair expense Gas and oil expenses ТОTAL 57, 000 6, 000 9, 300 Р 149, 500 P 149, 500 Additional information: a. Services provided but unbilled P2, 500 at December 31. b. Insurance coverage began January 1 under a 2- year policy. c. Automobile depreciation is P15, 000 for the year. d. Interest of P5, 4000 accrued on notes payable for the year. e. P1, 000 of the unearned fees has been earned. f. Driver's salaries total P500 per day. At December 31, 3 days salaries are unpaid. g. Repairs to automobiles of P650 have been incurred, but bills have not been received prior to December 31. (Use accounts payable) Instructions: 1. Prepare the adjusting entries at December 31, 2020. Adjusting Entry (Ч Credit Debit а. b. С. d. е. f. g.

Jun 11, 2022
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