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    CAJEGAS CHLOE Worksheet

    Uploaded by

    Chloe Cataluna
    The document contains adjusting entries made at the end of the month for Cajegas Trucking Services. The adjustments include recognizing $1,200 of uncollectable accounts, $10,000 of unused supplies expense, $6,200 of prepaid insurance expense, and $18,000 of prepaid rent expense. It also records $105,000 of depreciation expense for the delivery truck.

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

    CAJEGAS CHLOE Worksheet

    Uploaded by

    Chloe Cataluna
    4K views8 pages
    The document contains adjusting entries made at the end of the month for Cajegas Trucking Services. The adjustments include recognizing $1,200 of uncollectable accounts, $10,000 of unused supplies expense, $6,200 of prepaid insurance expense, and $18,000 of prepaid rent expense. It also records $105,000 of depreciation expense for the delivery truck.

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    CAJEGAS.CHLOE.Worksheet (1)

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    The document contains adjusting entries made at the end of the month for Cajegas Trucking Services. The adjustments include recognizing $1,200 of uncollectable accounts, $10,000 of unused supplies expense, $6,200 of prepaid insurance expense, and $18,000 of prepaid rent expense. It also records $105,000 of depreciation expense for the delivery truck.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    4K views8 pages

    CAJEGAS CHLOE Worksheet

    Uploaded by

    Chloe Cataluna
    The document contains adjusting entries made at the end of the month for Cajegas Trucking Services. The adjustments include recognizing $1,200 of uncollectable accounts, $10,000 of unused supplies expense, $6,200 of prepaid insurance expense, and $18,000 of prepaid rent expense. It also records $105,000 of depreciation expense for the delivery truck.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 8

    Adjusting Entries

    1.) Uncollectable Accounts 1,200


    Est. Uncollectable Account 1,200

    2.) Supplies Expense 10,000


    Unused Supplies 10,000

    3,) Inusrance Expense 6,200


    Prepaid Insurance 6,200

    4.) Rent Expense 18,000


    Prepaid Rent 18,000

    5.) Depreciation Expense - Delivery Truck 105,000


    Acc. Depreciation Expense- Delivery Truck 105,000
    Cajegas Trucking Services
    Worksheet
    For the month ended June 30, 20B

    Unadjusted Trial Balance Adjustments


    Particulars Debit Credit Debit Credit
    Cash In Bank 1,020,000
    Petty Cash Fund 1,000
    Accounts Receivable 120,000
    Est. Uncollectable Account 1,200 a.) 1,200
    Unused Supplies 15,000 b.) 10,000
    Prepaid Insurance 8,500 c.) 6,200
    Prepaid Rent 30,000 d.) 18,000
    Delivery Truck 1,500,000
    Acc. Depreciation- Delivery Truck 250,000 e.) 105,000
    Accounts Payable 130,000
    P. Cajegas, Capital 1,818,500
    P. Cajegas, Drawing 50,000
    Trucking Income 935,000
    Taxes and Licenses 10,000
    Repairs & Maintenance 27,000
    Retainer Fees 25,000
    Salaries & Wages 320,000
    Utilities Expense 8,200
    Total 3,134,700 3,134,700
    Adjustments:
    Uncollectable Account a.) 1,200
    Supplies Expense b.) 10,000
    Insurance Expense c.) 6,200
    Rent Expense d.) 18,000
    Depreciation Expense- Delivery Truck e.) 105,000
    Sub Total 140,400 140,400
    Net Loss ( Profit)
    Total
    s Trucking Services
    Worksheet
    nth ended June 30, 20B

    Adjusted Trial Balance Income Statement Balance Sheet


    Debit Credit Debit Credit Debit Credit
    1,020,000 1,020,000
    1,000 1,000
    120,000 120,000
    2,400 2,400
    5,000 5,000
    2,300 2,300
    12,000 12,000
    1,500,000 1,500,000
    355,000 355,000
    130,000 130,000
    1,818,500 1,818,500
    50,000 50,000
    935,000 935,000
    10,000 10,000
    27,000 27,000
    25,000 25,000
    320,000 320,000
    8,200 8,200

    1,200 1,200
    10,000 10,000
    6,200 6,200
    18,000 18,000
    105,000 105,000
    3,240,900 3,240,900 530,600 935,000 2,710,300 2,305,900
    404,400 404,400
    935,000 935,000 2,710,300 2,710,300
    Cajegas Trucking Services
    Statement in Changes of Owner's Equity
    For the month ended June 30, 20B
    P. Cajegas, Capital - Beggining 1,818,500

    Profit: 404,400
    Total 2,222,900
    Less: Withdrawal -50,000
    P. Cajegas, Capital - Ending 2,172,900
    Cajegas Trucking Service
    Income Statement
    For the month ended June 30, 20B
    Trucking Income 935,000
    Operating Expense:
    Taxes and Licenses 10,000
    Repairs & Maintenance 27,000
    Retainer Fees 25,000
    Salaries & Wages 320,000
    Uncollectable Account 1,200
    Utilities Expense 8,200
    Supplies Expense 10,000
    Insurance Expense 6,200
    Rent Expense 18,000
    Depreciation Expense- Delivery Truck 105,000
    Total Expense 530,600
    Profit 404,400
    Cajegas Trucking Service
    Balance Sheet
    As of June 30, 20B

    Assets
    Current Assets:
    Cash In Bank 1,020,000
    Petty Cash Fund 1,000
    Accounts Receivable 120,000
    Less:Est. Uncollectable Account -2,400 117,600
    Unused Supplies 5,000
    Prepaid Insurance 2,300
    Prepaid Rent 12,000
    1,157,900
    Non- Current Assets:
    Delivery Truck 1,500,000
    Less: Acc. Depreciation- Delivery Truck -355,000 1,145,000
    1,145,000

    TOTAL ASSETS 2,302,900


    cking Service
    ce Sheet
    ne 30, 20B

    Liabilities & Owner's Equity


    Current Liabilities:
    Accounts Payable 130,000

    Owner's Equity

    P. Cajegas, Capital 2,172,900

    TOTAL LIABILITIES AND OWNER'S EQUITY 2,302,900

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