The unadjusted trial balance of E. SANTOS COMPANY for December 31, 20A follows: Dr.Cr. CashP 504,000 Accounts Receivable 789,000 Prepaid Rent 144,000 Cooking Supplies 357,000 Land 530,000 Building...

The unadjusted trial balance of  E. SANTOS COMPANY for December 31, 20A follows:

Dr.Cr.

CashP  504,000

Accounts Receivable    789,000

Prepaid Rent    144,000

Cooking Supplies    357,000

Land    530,000

Building 1,250,000

Accumulated Depreciation- BuildingP413,000

Cooking Equipment    870,000

Accumulated Depreciation- Cooking Equipment   212,000

Notes Payable1,400,000

Accounts Payable   117,000

Santos, Capital1,435,000

Santos , Withdrawals    240,000

Gourmet Cooking Revenues2,256,000

Salaries Expense    619,000

Travel Expense    127,000

Advertising Expense    215,000

Insurance Expense      40,000

Utilities Expense    102,000

Miscellaneous Expense      46,000

Additional Information:

1.One-half of the prepaid rent has expired.

1. Cooking Supplies on hand at year-end amounted to P25,000.


2. Depreciation on the building and on the cooking equipment amounted to

 P28,000 and P52,000, respectively.

4.Accrued salaries at year – end amounted to P27,000.

1. Interest amounting to P252,000 has accrued on notes payable. Interest on

 the notes is paid every January 1. The note matures on January 1, 20B.

REQUIRED:

1. Record the adjusting entries in the General Journal.


2. 8-column worksheet


3. Income Statement


4. Statement of Changes in Owner’s Equity


5. Balance Sheet


6. Closing Entries


7. Post-Closing Trial Balance


8. Opening Entry


9. Reversing entries if necessary.