Unadjusted Trial Balance of Dahlia Merchandising Co.
on December 31, 20x1
Cash P 67,075.00
Note Receivable 70,000.00
Accounts Receivable 171,100.00
Merchandise Inventory, January 1 60,900.00 The following are the adjustments to be made:
Furniture and Fixtures 31,000.00 1. Merchandise Inventory, December 31, P76,000.00
Office Equipment 14,000.00 2. The note receivable was received December 16 with
Notes Payable 20,000.00 3. Bad debts are estimated at 1% of the balance of acc
Accounts Payable 94,750.00 4. the furniture was acquired on July 1, 20x1. It is depr
Lea Capital 265,000.00 5. The office equipment was acquired February 1, 20x1
Lea Drawing 9,500.00 with a salvage value of P2,000.00 at the end of its lif
Sales 572,875.00 6. The note payable was issued November 1, 20x1 with
Sales Returns 11,000.00 the maturity date.
Sales Discounts 6,400.00 7. Unused supplies, P890.00
Purchases 390,750.00 8. Unpaid insurance, P4,000.00
Freight in 5,415.00 9. The rental income is for 5 months and was received
Purchase Returns 3,630.00
Purchase Discounts 6,885.00 REQUIRED:
Salaries Expense 99,550.00 1. Worksheet
Rent Expense 24,000.00 2. Income Statement
Insurance Expense 5,250.00 3. Balance Sheet
Office Supplies Expense 2,200.00 4. Owner's Equity Statement
Rental Income 5,000.00
NOTE: The initial investment of Lea was only P100,000.00
nts to be made:
ember 31, P76,000.00
eived December 16 with interest of 12%. The due date is January 15
% of the balance of accounts receivable.
n July 1, 20x1. It is depreciated at the rate of 12% per annum
quired February 1, 20x1. It has an estimated useful life of 10 years
0.00 at the end of its life.
November 1, 20x1 with interest at 6% payable on January 31, 20x2,
onths and was received on December 1, 20x1
