Junqueira's Basic Histology Text & Atlas, 12e

Lucerna Bacalso Surveyors Surveyors Trial Balance May 31, 2013 Debit

Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipment Accounts Payable

Credit 210000 930000 360000 270000 190000 6!0000 190000

"nearned Survey #evenues

120000

$otes %ayable

&00000

Bacalso Capital Bacalso !ithdra"als

1120000 700000

Survey #evenues Salaries '()ense

6&10000 3270000

#ent '()ense

960000

*nsurance '()ense

2&0000

"+li+es '()ense

160000

Miscellaneous '()ense Total

0000 900000

900000

The following information pertaining to the year-end adjustments is available: The P360,000 P360,000 prepaid prepaid advertis advertising ing represent represents s expenditur expenditure e made on ov ov! ", #0"# for monthly monthly advert advertising ising over over the n  % &ount of the engineering supplies at 'ay 3", #0"3 amounted to P(0,000! )epre&iation on the surveying e*uipment amounted to P"60,000! +ne-third of the unearned survey revenues has been earned at year-end!  %t year-end, salaries in the amount amount of P"0,000 have a&&rued! a&&rued! nterest of P60,000 on the notes payable has a&&rued at year-end! .e*uired: Prepare the adjustments and finan&ial statements!

xt "$ months!

d-ust.ent 'nntries $o

ccount Title / '()lana+on

1

dver+sin '()enses

Debit 1!0000

Prepaid Advertising 2

Su))lies '()ense

1!0000 10000

Engineering Supplies 3

De)recia+on '()enses

10000 160000

Accum. Depreciation-Survey Equipment !

"nearned Survey #evenues

Salaries '()ense

!0000 1!0000

Salary Payable 6

*nterest '()enses *nterest %ayable

160000

!0000

Survey #evenues &

Credit

1!0000 60000 60000

Lucerna Bacalso Surveyors Trial Balance

d-ust.ent May 31, 2013 Debit

Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipment Accounts Payable

Credit

Debit

Credit

210000 930000 360000

1

1!0000

270000

2

10000

190000 6!0000

160000

190000

"nearned Survey #evenues

120000

!

!0000

Salary Payable

&

1!0000

*nterest %ayable

6

60000

!

!0000

$otes %ayable

&00000

Bacalso Capital Bacalso !ithdra"als

1120000 700000

Survey #evenues

6&10000

Salaries '()ense

3270000

&

1!0000

dver+sin '()enses

1

1!0000

Su))lies '()ense

2

10000

De)recia+on '()enses

3

160000

*nterest '()enses

6

60000

#ent '()ense

960000

*nsurance '()ense

2&0000

"+li+es '()ense

160000

Miscellaneous '()ense

0000

Total

900000

Lucerna Bacalso Surveyors d-usted Trial Balance May 31, 2013

Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment

210000 930000 220000 90000 190000

900000

720000

720000

Accum. Depreciation-Survey Equipment Accounts Payable

00000 190000

"nearned Survey #evenues

0000

Salary Payable

1!0000

*nterest %ayable

60000

$otes %ayable

Bacalso Capital Bacalso !ithdra"als

&00000 1120000 700000

Survey #evenues Salaries '()ense

6&&0000 3!10000

#ent '()ense

960000

*nsurance '()ense

2&0000

"+li+es '()ense

160000

dver+sin '()enses

1!0000

Su))lies '()ense

10000

De)recia+on '()enses

160000

*nterest '()enses

60000

Miscellaneous '()ense

0000

Total

9!!0000

9!!0000

d-usted Trial Balance Debit

Credit 210000 930000 220000 90000 190000 00000 190000 0000 1!0000 60000 &00000 1120000 700000 6&&0000 3!10000 960000 2&0000 160000 1!0000 10000 160000 60000 0000 9!!0000

9!!0000

Lucerna Bacalso Surveyors #ncome Statement

$or the %ear Ended &ay '( )*(' Amount +in Revenue Survey Revenues otal Revenue Epenses Salaries Epense Rent Epense #nsurance Epense 3tilities Epense Advertising Epenses Supplies Epense Depreciation Epenses #nterest Epenses &iscellaneous Epense otal Epenses  5et income

'/(**** 01**** )2**** (1**** (/**** (4**** (1**** 1**** 4****

 

Dollar, 122**** 122****

2/***** ((2****

/u&erna a alan as on '  %ssets 2urrent %ssets Cas  %&&ounts .e&eivable

210,000  

%re)aid dver+sin ngineering 1upplies

930,000 220,000 90,000

Total Current ssets

1,!&0,000

Property, Plant, and *uipment Survey 'ui).ent  %&&um! )epre&iation-1urvey *uipment  

1,90,000 00,000

Total %%'

1,090,000

Total ssets

2,&!0,000

also 1urveyors &e 1heet y 3", #0"3  /iabilities 2urrent /iabilities ccounts %ayable "nearned Survey #evenues

190,000 0,000

1alary Payable

1!0,000

nterest Payable

60,000

!70,000

&00,000

&00,000

/ong Term /iabilities $otes %ayable

970,000

Total /iabilities *uity a&also, 2apital

1,&70,000

Total *uity

1,&70,000

Total /iabilities 4 *uity

2,&!0,000