1.

Store supplies left is

5000
2. Office supplies used
is 2500
3. Prepaid insurance is payment for three
months
starting October 1,
2015.
4. Office Equipment has 10% annual
depreciation.
5. Store Equipment is expected to last for 7 years
with
scrap value of
P20000.
6. Furniture & Fixture has 2% monthly
depreciation.
7. Of the sales recorded, P5000 is still
unearned.
8. The following expenses were
accrued:
a. Repairs and
Maintenance, P5000
b. Gas and Oil,
P2300
9. Merchandise Inventory ending is
P120,000

INFORMATION FOR ADJUSTMENTS:

1. Store Supplies Used at the end of the
month
is P1,500.
2. Furniture & Fixtures has 5% yearly
depreciation.
3. Store Equipment is estimated to last
for 5 years
with residual value of P5,000.
4. Unrecorded cash sales of P35,000.
5. The following expenses were accrued:
a. Rent P4,500
b. Taxes and Licenses
6. Merchandise ending is P185,000.