Adjusting Entries

a. No entry

b. Doubtful Account Expense 900

Estimated Uncollectible Account 900

c. Depreciation Expense - furniture & fixture 35,000

Accumulated depreciation - furniture & fixture 35,000

d. Prepaid insurance 12,000

Insurance Expense 12,000

e. Rental Expense 10,000

Accrued Rent expense 10,000
 Unadjusted Trial Balance Adjustments
Account Title Debit Credit Debit
Cash on Hand ₱ 295,000.00
Petty Cash Fund ₱ 1,000.00
Account Receivable ₱ 50,000.00
Est. Uncollectible Accounts ₱ 1,000.00
Merchandise Inventory ₱ 125,000.00
Furniture & Fixture ₱ 175,000.00
Acc. Depreciation ₱ 23,000.00
Accounts Payable ₱ 20,000.00
C. Carpeso, Capital ₱ 1,183,700.00
C. Carpeso Drawing ₱ 2,000.00
Sales ₱ 1,430,000.00
Sales & Returns Alowances ₱ 1,500.00
Purchases ₱ 1,630,000.00
Freight In ₱ 800.00
Purchase Return & Allowance ₱ 1,600.00
Salaries & Wages ₱ 240,000.00
Taxes & Licenses ₱ 14,000.00
Rental Expenses ₱ 110,000.00 ₱ 10,000.00
Insurance Expense ₱ 15,000.00

₱ 2,659,300.00 ₱ 2,659,300.00

Adjustments
b. Doubtdul Account Expense ₱ 900.00
c. Depreciation Expense ₱ 35,000.00
d. Prepaid Insurance ₱ 12,000.00
e. Accrued Rent Expense

Total ₱ 57,900.00
Profit
Total
Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Credit Debit Credit Debit Credit Debit
₱ 295,000.00 ₱ 295,000.00
₱ 1,000.00 ₱ 1,000.00
₱ 50,000.00 ₱ 50,000.00
₱ 900.00 ₱ 1,900.00
₱ 125,000.00 ₱ 125,000.00
₱ 175,000.00 ₱ 175,000.00
₱ 35,000.00 ₱ 58,000.00
₱ 20,000.00
₱ 1,183,700.00
₱ 2,000.00 ₱ 2,000.00
₱ 1,430,000.00 ₱ 1,430,000.00
₱ 1,500.00 ₱ 1,500.00
₱ 1,630,000.00 ₱ 1,630,000.00
₱ 800.00 ₱ 800.00
₱ 1,600.00 ₱ 1,600.00
₱ 240,000.00 ₱ 240,000.00
₱ 14,000.00 ₱ 14,000.00
₱ 120,000.00 ₱ 120,000.00
₱ 12,000.00 ₱ 3,000.00 ₱ 3,000.00

₱ 900.00 ₱ 900.00
₱ 35,000.00 ₱ 35,000.00
₱ 12,000.00 ₱ 12,000.00
₱ 10,000.00 ₱ 10,000.00

₱ 57,900.00 ₱ 2,705,200.00 ₱ 2,705,200.00 ₱ 2,045,200.00 ₱ 1,431,600.00

₱ 613,600.00
₱ 2,045,200.00 ₱ 2,045,200.00 ₱ 660,000.00
Balance Sheet
Credit

₱ 1,900.00
₱ 985,000.00

₱ 58,000.00
₱ 20,000.00
₱ 1,183,700.00

₱ 10,000.00

₱ 613,600.00
₱ 2,258,600.00