Problem #2

Preparing Adjusting Entries from Unadjusted and Adjusted Trial Balance

A.T. Design
Trial Balance
December 31, 2021
Unadjusted Adjustments
Cash ₱ 72,000
Accounts Receivable 331,000
Prepaid Insurance 48,000
Supplies 125,000
Land 170,000
Building 850,000
Accum. Depreciation-Building ₱ 230,000
Computer Equipment 620,000
Accum. Depreciation-Computer Equipt. 106,000
Notes Payable 550,000
Accounts Payable 143,000
Salaries Payable
Interest Payable
Mortgage Payable 470,000
Tejero, Capital 310,000
Tejero, Withdrawals 250,000
Computer-Aided Design Service Revenues 1,470,000
Salaries Expense 813,000 ₱ 34,000
Insurance Expense 12,000
Supplies Expense 53,000
Depreciation Expense-Building 15,000
Depreciation Expense-Computer Equipt. 18,000
Interest Expense 77,000
Totals ₱ 3,279,000 ₱ 3,279,000 ₱ 209,000
Adjustments Adjusted
₱ 72,000
331,000
₱ 12,000 36,000
53,000 72,000
170,000
850,000
15,000 ₱ 245,000
620,000
18,000 124,000
550,000
143,000
34,000 34,000
77,000 77,000
470,000
310,000
250,000
1,470,000
847,000
12,000
53,000
15,000
18,000
77,000
₱ 209,000 ₱ 3,423,000 ₱ 3,423,000