Example:: To Record Depreciation From - To
Example:: To Record Depreciation From - To
Example:: To Record Depreciation From - To
Adjusting entries are necessary to report accurate/correct amount to users of financial information.
GENERAL INSTRUCTIONS:
1 Prepare the adjusting entries for Mr. J Laundry Service (REFER TO ACTIVITY 4)
2 Additional information are given below as the basis of adjustments.
3 Observe proper indention and provide short explanation for the entries.
Example:
12/31/2020 Depreciation expense
Accumulated depreciation-Transpo Equipment
To record depreciation from _____ to _________.
4 Update the T-accounts in the General Ledger sheet. Add the adjusting entries that you made.
Use color blue and bold font for the added adjusting entries.
Example:
Acc. Depr.-Xxxx Equipment
4,333.33
- 4,333.33
-
CRITERIA
Completeness and Accuracy
(Adjusting entries are complete with correct amounts)
Formatting
(Strictly followed the required format)
Punctuality
(Submitted on time)
TOTAL
nancial information.
xxxxx
xxxxx
rate of 8%.
T) in the "Adjusted Trial Balance Sheet" and see how the balances are updated in "Adjusted Trial Balance" columns.
15
10
5
30
Adjusted Trial Balance" columns.
Mr. J Laundry Services
CHART OF ACCOUNTS
Supplies Expense
Office Supplies
To record the used portion of office supplies
Supplies Expense
Laundry Supplies
To record the used portion of laundry supplies
Interest Receivable
Interest Income
Cash
Interest Income
Totals
Prepared by:
Checked by:
___________________
_____________________
No. 2
Debit Credit
2,200.00
2,200.00
1,400.00
1,400.00
8,000.00
8,000.00
128,750.00
128,750.00
3,000.00
3,000.00
9,000.00
9,000.00
16,000.00
16,000.00
1,080.00
1,080.00
169,430.00 169,430.00
Approved by:
_____________________
Mr. J Laundry Services
GENERAL LEDGER
17,000.00 - 22,500.00 -
17,000.00 22,500.00
- -
Delivery Vehicle
5,250,000.00
5,250,000.00 -
5,250,000.00
- -
Accounts Payable Laundry service income
28,000.00 195,000.00
4,000.00 180,000.00
- 32,000.00 - 375,000.00
32,000.00 375,000.00
- 90,000.00 20,000.00 -
90,000.00 20,000.00
- - 3,500.00 -
- 3,500.00
- 186,700.00 -
186,700.00 -
Mr. J Laundry Services
Adjusted Trial Balance
as of December 31, 2020
Credit
2,200.00
8,000.00
1,400.00
128,750.00
32,000.00
-
90,000.00
5,250,000.00
-
186,700.00
-
375,000.00
16,000.00
1,080.00
6,091,130.00