Scribd Logo
Upload

Welcome to Scribd!

  • T L E - Performance-Task-No 2 - Worksheets

    Uploaded by

    Luffy Monkey (BarbieChua)
    6 views1 page
    This trial balance shows the financial position of a new repair shop as of December 31, 2021, with assets including cash, accounts receivable, prepaid rent, and equipment and liabilities including accounts payable and capital. Key expenses are rent, salaries, and utilities, with repair income of $320,000. Year-end adjustments include recognizing actual rent of $28,000, $25,000 depreciation on equipment, and $3,000 allowance for bad debts.

    Original Description:

    Original Title

    T.L.E.-Performance-Task-No.2_Worksheets

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This trial balance shows the financial position of a new repair shop as of December 31, 2021, with assets including cash, accounts receivable, prepaid rent, and equipment and liabilities including accounts payable and capital. Key expenses are rent, salaries, and utilities, with repair income of $320,000. Year-end adjustments include recognizing actual rent of $28,000, $25,000 depreciation on equipment, and $3,000 allowance for bad debts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    T L E - Performance-Task-No 2 - Worksheets

    Uploaded by

    Luffy Monkey (BarbieChua)
    This trial balance shows the financial position of a new repair shop as of December 31, 2021, with assets including cash, accounts receivable, prepaid rent, and equipment and liabilities including accounts payable and capital. Key expenses are rent, salaries, and utilities, with repair income of $320,000. Year-end adjustments include recognizing actual rent of $28,000, $25,000 depreciation on equipment, and $3,000 allowance for bad debts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    LASH

    Look NEW Repair


    New REPAIR SHOP
    Shop
    Trial Balance
    December 31, 2021
    Accounts Debit Credit
    Cash 50,000.00
    Accounts Receivable 59,000.00
    Prepaid Rent 78,000.00
    Equipment 127,000.00
    Accumulated Depreciation-Equipment 25,000.00
    Accounts Payable 66,000.00
    L, Capital 100,000.00
    L, Drawing 50,000.00
    Repair Income 320,000.00
    Rent Expense 75,000.00
    Salaries Expense 45,000.00
    Utilities Expense 27,000.00
    Totals 511,000.00 511,000.00

    Year end Adjustments:


    1. Rent Expense for the year is P28,000.00
    2. Depreciation Expense for equipment is P 25,000.00
    3. Allowance for Bad Debts is P3, 000.00

    You might also like