ABM 1 – Module 2 Assessment

Name: Section:

Make an adjusting entry, post the adjusting entries and compute the balances, prepare the adjusted trial balance
and the worksheet.
Presented below is the unadjusted trial balance of New B Travel and Tours for the year ended Dec. 2019.
New B Travel and Tours
Unadjusted Trial Balance
Dec. 31, 2019

Cash P126,000
Accounts Receivable 645,000
Prepaid Rent 360,000
Office Supplies 63,000
Furniture 2,175,000
Accumulated Depreciation P435,000
Notes Payable 900,000
Accounts Payable 285,000
Salaries Payable
Interest Payable
Baranda, Capital 1,680,000
Baranda, Withdrawals 1,200,000
Travel Revenues 5,133,000
Salaries Expense 3,771,000
Rent Expense
Office Supplies Expense
Depreciation Expense
Interest Expense
Miscellaneous Expense 93,000
Totals P8,433,000 P8,433,000

Additional Information:
On November 1 2019, New B Travel and Tours paid Lumantad Realtors P360,000 for six months rent on the
office building commencing that date.

Office Supplies on hand at December 31, 2019 amounted to P27,000.

Depreciation Expense for the Furniture amounted to P75,000 for the year.

At December 31, 2019, P105,000 salaries have accrued.

The P900,000 note payable was issued on Oct. 1, 2019. It will be repaid in 12 months together with interest at
an annual rate of 24%.