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

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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219 views

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

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.

Uploaded by

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