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    Acctg1 Final

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    Brian Reyes Gangca
    This document provides the trial balance for Ab Seen Knows Company for the month of June 30, 2015. It lists the account titles, debits, and credits for the company. It also provides adjustments that need to be made including an updated merchandise inventory count, unpaid salaries, store supplies used, and information about store equipment depreciation. The worksheet asks the examinee to prepare a worksheet using the trial balance data and adjustments provided.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Acctg1 Final

    Uploaded by

    Brian Reyes Gangca
    74 views1 page
    This document provides the trial balance for Ab Seen Knows Company for the month of June 30, 2015. It lists the account titles, debits, and credits for the company. It also provides adjustments that need to be made including an updated merchandise inventory count, unpaid salaries, store supplies used, and information about store equipment depreciation. The worksheet asks the examinee to prepare a worksheet using the trial balance data and adjustments provided.

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    This document provides the trial balance for Ab Seen Knows Company for the month of June 30, 2015. It lists the account titles, debits, and credits for the company. It also provides adjustments that need to be made including an updated merchandise inventory count, unpaid salaries, store supplies used, and information about store equipment depreciation. The worksheet asks the examinee to prepare a worksheet using the trial balance data and adjustments provided.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    74 views1 page

    Acctg1 Final

    Uploaded by

    Brian Reyes Gangca
    This document provides the trial balance for Ab Seen Knows Company for the month of June 30, 2015. It lists the account titles, debits, and credits for the company. It also provides adjustments that need to be made including an updated merchandise inventory count, unpaid salaries, store supplies used, and information about store equipment depreciation. The worksheet asks the examinee to prepare a worksheet using the trial balance data and adjustments provided.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    NORTHERN MINDANAO COLLEGES INC.

    Atega St., Brgy. 11 Poblacion, Cabadbaran City, Agusan del Norte

    FINAL EXAMINATION
    Fundamentals of Accountancy, Business and Management 1 SCORE
    Name : Grade & Section:
    Subject Teacher: Date:

    I. Prepare a worksheet using the following data given below:

    AB SEEN KNOWS COMPANY


    Trial Balance
    For the month ended June 30, 2015

    ACCOUNT TITLE DEBIT CREDIT


    Cash P227,200
    Merchandise Inventory 50,000
    Store Supplies 6,300
    Store Equipment 64,000
    Accounts Payable P40,100
    Ab Seen Knows, Capital 352,000
    Ab Seen Knows, Drawing 6,000
    Sales 45,500
    Sales Returns and 3,000
    Allowances
    Sales Discount 280
    Purchases 51,000
    Purchase Return and 3,000
    Allowances
    Purchase Discount 280
    Freight-in 800
    Utilities Expense 11,000
    Rent Expense 20,000
    Freight-Out 800
    TOTAL P440,380 P440,380

    The following are the adjustments:

    1. Merchandise inventory at June 30 is determined to be P68,720 based on physical count.


    2. Salaries incurred in June but which remain unpaid as at June 30 amounted to P10,000.
    3. Store supplies used for the month of June totaled P4,900.
    4. Store equipment is estimated to have salvage value of P10,000 and useful life of six years.

    Prepared by: Checked by:

    BRIAN REYES GANGCA ENGR. EVA M. OLOFERNES


    SHS Teacher Basic Education Principal

    I may not there watching you cheating, but we know He is watching you… Goodluck!

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