Summer Travel was organized on September 1, 2019.

Assume that the accounts are closed and financial

The company occupies rented office space but owns office equipment estimated to have a useful life of 10
The unadjusted trial balance for Summer Travel at November 30, 2019 is shown below:
Unadjusted Trial
Balance
Account Title DR CR
Cash 1,750
Accounts Receivable 1,210

Office Equipment 4,800

Accum. Deprn-Off Eqpt 80
Accounts Payable 1,640
Constantino , Capital 7,490
Constantino , Withdrawal 500
Service Revenue 4,220
Advertising Expense 800
Salaries Expense 3,600
Rent Expense 770
13,430 13,430

Additional Information:

The rent expense amounting to PHP770 covers rental for the month of November and December 2019.

Instructions:
1.  Prepare the adjusting entries necessary for the above problem
2.  Prepare a worksheet ending November 30, 2019

·         adjusted trial balance

·         income statement
·         balance sheet

3.  Prepare closing entries

closed and financial statements are prepared each month.
ve a useful life of 10 years from date of acquisition, September 1, 2019.

d December 2019.
 Unadjusted Trial
Balance Adjustments Adjusted Trial Balance
Account Title DR CR DR CR DR CR
Cash 1,750 1750
Accounts Receivable 1,210
1210
Office Equipment 4,800 4800
Accum. Deprn-Off Eqpt 80 120 40
Accounts Payable 1,640 385 2005
Constantino , Capital 7,490 7490
Constantino , Withdrawal 500 500
Service Revenue 4,220 4220
Advertising Expense 800 800
Salaries Expense 3,600 3600
Rent Expense 770 385 1135
Depreciation Expense 120 120
13,430 13,430 505 505 13955 13715
Income Statement Balance Sheet
DR CR DR CR

4220
800
3600

4400 4220 0 0