Answer:
didyou mean: Direction: Prepare an Adjusting Entries and 10-Column Worksheet (See SAMPLE in Module 2/page 4) The MJCO Realty operates with an annual accounting period that ends at Dec 31. At the end of this year, a trial balance of the concern appears as follows: HILLTOP REALTY Trial Balance December 31, 200A P 14, 450 9, 800 5, 400 37,500 P 6, 500 57, 650 9, 500 Cash Accounts Receivable Prepaid Insurance Office Equipment Accumulated Depreciation, Office Equipment Automobile Accumulated Depreciation, Automobile Accounts Payable Unearned Management Fees C. De Leon, Capital C. De Leon, Drawing Sales Commissions earned Office Salaries Expense Advertising Expense Rent Expense Telephone Expense Utility Expense 11,000 5,500 50,000 9,000 156, 500 75, 000 7,500 15,000 4, 500 3, 200 P239, 000 P239,000 Adjustments: 1. Expired insurance during the year P 3, 400 2. Estimated depreciation of office equipment P3, 000; of automobile P5,000. 3. An amount of P4, 500 received, was credited to Unearned Management Fees account, is an advanced payment for management services for six months. 4. On December 31, five days wages of P300 per day have occurred 5. Advertising expense represents a 5-month advertising beginning on Novemb
