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    Lesley Dela Cruz Clearners Worksheet Sept 30, 2020 Trial Balance Adjustments Debit Credit Debit

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    Jasmine Acta
    1) The document includes trial balance, adjusting entries, and financial statements for Lesley Dela Cruz Clearners as of September 30, 2020. 2) Adjusting entries were made for prepaid insurance, cleaning supplies, accumulated depreciation, interest payable, unearned revenue, and salaries payable. 3) Financial statements presented are the statement of comprehensive income, statement of changes in owner's equity, and statement of financial position. The statements show the company had revenues of $1,580,340 and net income of $39,660 for the fiscal year.

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    Lesley Dela Cruz Clearners Worksheet Sept 30, 2020 Trial Balance Adjustments Debit Credit Debit

    Uploaded by

    Jasmine Acta
    200 views7 pages
    1) The document includes trial balance, adjusting entries, and financial statements for Lesley Dela Cruz Clearners as of September 30, 2020. 2) Adjusting entries were made for prepaid insurance, cleaning supplies, accumulated depreciation, interest payable, unearned revenue, and salaries payable. 3) Financial statements presented are the statement of comprehensive income, statement of changes in owner's equity, and statement of financial position. The statements show the company had revenues of $1,580,340 and net income of $39,660 for the fiscal year.

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    1) The document includes trial balance, adjusting entries, and financial statements for Lesley Dela Cruz Clearners as of September 30, 2020. 2) Adjusting entries were made for prepaid insurance, cleaning supplies, accumulated depreciation, interest payable, unearned revenue, and salaries payable. 3) Financial statements presented are the statement of comprehensive income, statement of changes in owner's equity, and statement of financial position. The statements show the company had revenues of $1,580,340 and net income of $39,660 for the fiscal year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    200 views7 pages

    Lesley Dela Cruz Clearners Worksheet Sept 30, 2020 Trial Balance Adjustments Debit Credit Debit

    Uploaded by

    Jasmine Acta
    1) The document includes trial balance, adjusting entries, and financial statements for Lesley Dela Cruz Clearners as of September 30, 2020. 2) Adjusting entries were made for prepaid insurance, cleaning supplies, accumulated depreciation, interest payable, unearned revenue, and salaries payable. 3) Financial statements presented are the statement of comprehensive income, statement of changes in owner's equity, and statement of financial position. The statements show the company had revenues of $1,580,340 and net income of $39,660 for the fiscal year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 7

    Lesley Dela Cruz Clearners

    Worksheet
    Sept 30, 2020

    TRIAL BALANCE ADJUSTMENTS


    Particulars
    DEBIT CREDIT DEBIT
    Cash 117,880.00
    Accounts Receivable 264,940.00
    Prepaid Insurance 34,000.00
    Cleaning Supplies 73,740.00
    Land 180,000.00
    Building 1,850,000.00
    Accumulated Depreciation-Building 456,000.00
    Accounts Payable 204,000.00
    Salaries Payable
    Interest Payable
    Unearned Cleaning Revenues 16,000.00 4,000.00
    Mortgage Payable 1,100,000.00
    L. Dela Cruz, Capital 565,600.00
    L. Dela Cruz, Withdrawals 100,000.00
    Cleaning Revenues 1,576,340.00
    Salaries Expense 1,013,300.00 16,800.00
    Cleaning Equipment Rental Expense 60,000.00
    Insurance Expense - 27,200.00
    Cleaning Supplies- Expense - 61,300.00
    Depreciation Expense- Building - 128,000.00
    Delivery Truck Expense 43,740.00
    Interest Expense 110,000.00 10,000.00
    Other Expense 70,340.00

    Total 3,917,940.00 3,917,940.00 247,300.00


    Net Income
    Total
    Lesley Dela Cruz Clearners
    Worksheet
    Sept 30, 2020

    ADJUSTMENTS Adjusted Trial Balance Income Statement Balance Sheet


    CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
    117,880.00 117,880.00
    264,940.00 264,940.00
    27,200.00 6,800.00 6,800.00
    61,300.00 12,440.00 12,440.00
    180,000.00 180,000.00
    1,850,000.00 1,850,000.00
    128,000.00 584,000.00 584,000.00
    204,000.00 204,000.00
    16,800.00 16,800.00 16,800.00
    10,000.00 10,000.00 10,000.00
    12,000.00 12,000.00
    1,100,000.00 1,100,000.00
    565,600.00 565,600.00
    100,000.00 100,000.00
    4,000.00 1,580,340.00 1,580,340.00
    1,030,100.00 1,030,100.00
    60,000.00 60,000.00
    27,200.00 27,200.00
    61,300.00 61,300.00
    128,000.00 128,000.00
    43,740.00 43,740.00
    120,000.00 120,000.00
    70,340.00 70,340.00

    247,300.00 4,072,740.00 4,072,740.00 1,540,680.00 1,580,340.00 2,532,060.00 2,492,400.00


    39,660.00 39,660.00
    1,580,340.00 1,580,340.00 2,532,060.00 2,532,060.00
    Lesley Dela Cruz Clearners
    Adjusting Entries
    As of September 30, 2020

    Adjusting Entries
    DR Cr
    1) Insurance Expense 27,200.00
    Prepaid Insurance 27,200.00

    2) Cleaning Supplies Expense 61,300.00


    Cleaning Supplies 61,300.00

    3) Depreciation Expense-Building 128,000.00


    Accumulated Depreciation - Building 128,000.00

    4) Interest Expenses 10,000.00


    Interest Payable 10,000.00

    5) Unearned Cleaning Revenues 4,000.00


    Cleaning Revenues 4,000.00

    6) Salaries Expenses 16,800.00


    Salaries payable 16,800.00

    247,300.00 247,300.00
    Lesley Dela Cruz Clearners
    Statement of Comprehensive Income
    For the year ended September 30, 2020

    Cleaning Revenues
    Less: Operating Expenses
    Salaries Expense
    Cleaning Equipment Rental Expense
    Insurance Expense
    Cleaning Supplies- Expense
    Depreciation Expense- Building
    Delivery Truck Expense
    Interest Expense
    Other Expense
    Net Profit

    Lesley Dela Cruz Clearners


    Statement of Changes in Owner's Equity
    For the year ended September 30, 2020

    Beginning Capital
    Add: Net Profit
    Total
    Less; Drawings
    Ending Capital

    Lesley Dela Cruz Clearners


    Statement of Financial Position
    As of September 30, 2020

    ASSETS
    Current Assets
    Cash
    Accounts Receivable
    Prepaid Insurance
    Cleaning Supplies
    Total Current Assets

    Non-Current Assets
    Land
    Building 1,850,000.00
    Accumulated Depreciation-Building 584,000.00
    Total Assets

    LIABILITIES AND EQUITY


    Current Liabilities
    Accounts Payable 204,000.00
    Salaries Payable 16,800.00
    Interest Payable 10,000.00
    Unearned Cleaning Revenues 12,000.00
    Total Current Liabilities

    Non-Current Liabilities
    Mortgage Payable
    Total Liabilities

    Equity:
    L. Dela Cruz, Capital
    Total Liabilities and Equity
    Clearners
    ensive Income
    ember 30, 2020

    1,580,340.00

    1,030,100.00
    60,000.00
    27,200.00
    61,300.00
    128,000.00
    43,740.00
    120,000.00
    70,340.00 1,540,680.00
    ₱ 39,660.00

    Clearners
    Owner's Equity
    ember 30, 2020

    565,600.00
    39,660.00
    605,260.00
    100,000.00
    ₱ 505,260.00

    Clearners
    ial Position
    30, 2020

    117,880.00
    264,940.00
    6,800.00
    12,440.00
    402,060.00

    180,000.00

    1,266,000.00 1,446,000.00
    ₱ 1,848,060.00

    EQUITY

    242,800.00

    1,100,000.00
    1,342,800.00

    505,260.00
    ₱ 1,848,060.00

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