The trial balance for Reynaldo Gulane Cleaners appears as follows:

Reynaldo Gulane Cleaners

Trial Balance
September 30, 2019

Cash 117,880
Accounts Receviable 264,940
Prepaid Insurance 34,000
Cleaning Supplies 73,740
Land 180,000
Building 1,850,000
Accumulated Depreciation - Building 456,000
Accounts Payable 204,000
Unearned Cleaning Revenues 16,000
Mortgage Payable 1,100,000
Gulane, Capital 565,600
Gulane, Withdrawal 100,000
Cleaning Revenues 1,576,340
Salaries Expense 1,013,300
Cleaning Equipment Retnal Expense 60,000
Delivery Truck Expense 43,740
Interest Expense 110,000
Other Expenses 70,340
3,917,940 3,917,940

The follwing information is also available:

1. A review of insurance policies showed that P6,800 is unexpired at the year-end.
2. An inventory of cleaning supplies showed P12,440 on hand.
3. Estimated depreciation on the building for the year is P128,000
4. Accrued interest on the mortgage payable is P10,000.
5. On Sept. 1, the company signed a contract, effective immediately, with DAvao City Hospital to dry clean, for a fixed monthly
charge of P4,000, the uniforms used by doctors in surgery. The hospital paid for four months servce in advance.
6. Salaries paid on Saturdays. The weekly payroll is P25,200. September 30 falls on a Thursday and the company has a six-da

Required:
1. Prepare a 10 colum worksheet.
2. Prepare the following documents: Statement of Comprehensive Income, Statement of Financial Position and Statement of C
 dry clean, for a fixed monthly
vce in advance.
and the company has a six-day pay week.

al Position and Statement of Changes in Owner's Equity.

 REYNALDO GULANE CLEANERS
Worksheet
As of September 30, 2019

Unadjusted Trial Balance Adjustments

Debit Credit Debit
Cash 117,880
Accounts Receviable 264,940
Prepaid Insurance 34,000 1
Cleaning Supplies 73,740 2
Land 180,000
Building 1,850,000 3
Accumulated Depreciation - Building 456,000
Accounts Payable 204,000
Unearned Cleaning Revenues 16,000
Mortgage Payable 1,100,000 4
Gulane, Capital 565,600
Gulane, Withdrawal 100,000
Cleaning Revenues 1,576,340
Salaries Expense 1,013,300 6
Cleaning Equipment Retnal Expense 60,000 5
Delivery Truck Expense 43,740
Interest Expense 110,000
Other Expenses 70,340
3,917,940 3,917,940

Adjusting entries
Insurance Expense 6,800
Cleaning Supplies Expense 61,300
Depreciation Expense 128,000
Accrued interest 10,000
Rent Expense
Salaries Expense 16,800
4. Accrued interest
Interest expense 10,000
Interest Payable 10,000

5. Rent Expense
No Transaction

6. Salaries Expense
25,200/6= 4,200
4,200*4= 16,800

Salaries Expense 16,800

Salaries Payable 16,800
 DO GULANE CLEANERS
Worksheet
f September 30, 2019

Adjustments Adjusted Trial Balance Income statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit
117,880 117,880
264,940 264,940
6,800 27,200 27,200
61,300 12,440 12,440
180,000 180,000
128,000 1,722,000 1,722,000
456,000 204,000
204,000 16,000
16,000 16,000 1,100,000
10,000 1,090,000
565,600
100,000
1,576,340 1576340
16,800 996,500 1,013,300
NO TRANA 60,000 60,000
43,740 43,740
110,000 110,000
70,340 70,340
3,705,040 3,907,940 1,297,380 1,592,340
222,900 222,900
222,900 1,520,280
3,927,940 3,907,940