The following data are available for VALOR _ POWER COMPANY for the year 2021.

Accounts

Accounts receivable
Accounts payable
Accumulated depreciation-Delivery Van
Ace Valor, Capital
Ace Valor, Withdrawals
Allowance for Doubtful accounts
Cash on Hand
Delivery Van
Depreciation Expense - Delivery Van
Doubtful accounts (3% of receivable)
Installment Payable (June 30, 2022, 6% interest per year)
Insurance expense
Interest expense
Interest payable
Marketing & Promotions (October 1, 2021 for 15 mos)
Precollected service income (20% was already earned)
Prepaid insurance ( July 1, 2021-June 30, 2022)
Prepaid Marketing & Promotions
Rent expense
Repair Supplies
Service Fees
Travelling Expenses
Wages
R COMPANY for the year 2021.

Amount

110,000.00 1
140,000.00 1
280,000.00 1
1,020,000.00 1
100,000.00 1

1
170,000.00 2
2,100,000.00 2
120,000.00 3

3
700,000.00 3
3

4
210,000.00 5
80,000.00 6
80,000.00 6

6
170,000.00 6
90,000.00 6
1,330,000.00 6
66,000.00 6
334,000.00 6
REQUIRED:
1. LOOK FOR THE ADJUSTING ENTRIES & RECORD
THE DEBIT & CREDIT.
2. COMPLETE THE WORKSHEET

ACCOUNTS PROPERLY ARRANGED Amount UNADJUSTED TRIAL BALAN

DEBIT
Accounts receivable ### 110,000.00
Allowance for Doubtful accounts
Cash on Hand ### 170,000.00
Prepaid insurance ( July 1, 2021-June 30, 2022) ### 80,000.00
Prepaid Marketing & Promotions
Repair Supplies ######
C 90,000.00
Accumulated depreciation-Delivery Van ###
Delivery Van ######
P 2,100,000.00
Accounts payable ###
Installment Payable (June 30, 2022, 6% interest per year) ###
Interest payable ###
T
Precollected service income (20% was already earned) ######
CL
Ace Valor, Capital ######
O
Ace Valor, Withdrawals ### 100,000.00
Service Fees ######
Depreciation Expense - Delivery Van ### 120,000.00
Doubtful accounts (3% of receivable) ###
TE -
Insurance expense -
Interest expense -
Marketing & Promotions (10/1, 2021 for 15 mos) ### 210,000.00
Rent expense ### 170,000.00
Travelling Expenses ### 66,000.00
Wages ### 334,000.00
### 3,550,000.00
DJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE
CREDIT DEBIT CREDIT DEBIT
110,000.00

170,000.00
40,000.00
42,000.00
90,000.00
280,000.00
2,100,000.00
140,000.00
700,000.00

80,000.00
1,020,000.00
100,000.00
1,330,000.00
120,000.00
3,300.00
40,000.00
21,000.00
168,000.00
170,000.00
66,000.00
 334,000.00
3,550,000.00 3,574,300.00
STED TRIAL BALANCE FINANCIAL PERFORMANCE FINANCIAL POSITION
CREDIT DEBIT CREDIT DEBIT CREDIT

3,300.00

280,000.00

140,000.00
700,000.00
21,000.00
64,000.00
1,020,000.00

1,346,000.00
3,574,300.00 - - - -
- -
- - - -
Service Fees 1,346,000.00
Income Summary 1,346,000.00

Income Summary 922,300.00

Wages 162,000.00
Depreciation Expense - Delivery Van 120,000.00
Doubtful accounts 3,300.00
Insurance expense 40,000.00
Marketing & Promotions 168,000.00
Rent expense 170,000.00
Travelling Expenses 66,000.00
Interest expense 21,000.00

Income Summary 423,700.00

Ace Valor, Withdrawals 423,700.00

Ace Valor, Withdrawals 323,700.00

Ace Valor, Capital 323,700.00
Service income

Salaries & Wages

Supplies expense
Rent expense
Advertising expense (October 1, 2021 for 15 mos)
Gas & oil
Uncollectible accounts (2% of receivable)
Depreciation - Equipment
Interest expense

Service income
Notes Payable (June 30, 2022, 6% interest per year)

Rent expense
350,000.00 Interest Payable

Prepaid Marketing & Promotions

85,000.00
Interest Payable 21,000.00
Interest Expense 21,000.00

Prepaid Marketing & Promotions 42,000.00

Marketing & Promotions 42,000.00
Service income

Salaries & Wages