Problem No.

1
Expenses

The following are the selected account balances from the accounting records of Dayoha Photography
Studio for the year ended and as of December 31, 2020.

Cash 100,000 Rent Expense 90,000

Supplies Expense 20,000 Accrued Expenses 12,000
Supplies 50,000 Unearned Revenue 31,000
Withdrawal 5,000 Salaries Expense 42,000
Transportation Expense 23,600 Utilities Expense 7,600
Advertising Expense 59,000 Accounts Receivable 9,000
Capital 190,000 Bad Debts 8,000
Photography Income 91,300 Repairs Expense 12,900
Notes payable 32,000 Notes Receivable `16,000

Required:
Compute the amount of total expenses.

Problem No. 2
Income and Expenses

a. Esteba Massage Parlor paid the electric bill from Meralco ______________
b. A check amounting P45,000 is issued to employees for ______________
for their work for the first 15 days of March 2020.
c. Hilbero Salon sold some of its equipment at a price above ______________
its recorded value.
d. At month end, an entity pays the rent for the month. ______________
e. A grocery store sells merchandise to customers. ______________
f. A catering service business received bill from Meralco ______________
g. An entity estimates the decrease in the value of its ______________
machinery.
h. An accounting firm rendered services for cash ______________
i. A bank collects interest due from borrowers ______________
j. An apartment rental business collected rent due for the ______________
from occupants.

Required:
Determine the kind of expense or income that will arise from the transactions. Write the answer
on the blank space provided.