Scribd
Upload
9 views

Activity-Worksheet-006

Uploaded by

Denver Colilihan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
9 views

Activity-Worksheet-006

Uploaded by

Denver Colilihan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

BAACCEN

ACTIVITY WORKSHEET FOR EL STUDENTS


PROFESSOR: Alberto S. Malquisto, Jr. No. 006
__________________________________________________________________________________________

Unit 7 & 8: Preparation of Financial Statements, Closing Entries,


and Post-Closing Trial Balance

Name: _________________________________________________________________________________ SECTION CODE: _________

Please read the required activities carefully and make sure you understand the facts before you begin
answering. Please submit your answers through CANVAS ASSIGNMENTS using MS Word or PDF.

Your file name should be similar to this example: MALQUISTO_ASSIGNMENT006

NOTE: This activity will constitute as a FINAL OUTPUT for this subject.

Using the Adjusted Trial Balance of Kenpachi, prepare the following:

a. Income Statement
b. Statement of Changes in equity
c. Statement of Financial Position (Balance Sheet)
d. Closing Entries
e. Post-Closing Trial Balance

**Kenpachi is in its 1st year of operation with an original capital of ₱971,500

KENPACHI GENERAL REPAIRS AND OTHER SERVICES


Adjusted Trial Balance
December 31, 2020

PARTICULARS Debit Credit

Cash 2,150,000
Accounts Receivable 70,000
Allowance for Doubtful Accounts 8,500
Office Supplies 3,000
Prepaid Rent 36,000
Machinery and Equipment 310,000
Accumulated Depreciation- Machinery and Equipment 31,000
Furniture and Fixtures 180,000
Accumulated Depreciation- Furniture and Fixture 18,000
Accounts Payable 28,000
Notes Payable 700,000
Kenpachi, Capital 971,500
Service Revenue 1,076,000
Miscellaneous Expense 4,500
Utilities Expense 6,000
Rent Expense 12,000
Doubtful Accounts Expense 8,500
Depreciation Expense 49,000
Supplies Expense 4,000

2,833,000 2,833,000

Page 1 of 1

You might also like