Ever-readi Office Services

Trial balance
December 31,2022

Cash on Hand and In Bank 4,500.00

Accounts Receivable 15,000.00
Allowance for Uncollectible Accounts 2,500.00
Notes Receivable 4,000.00
Supplies on Hand 500.00
Office Equipment 6,000.00
Acc. Depreciation- Office Equipment 500.00
Office Furniture 4,000.00
Acc. Depreciation- Office Furniture 500.00
Accounts Payable 3,000.00
Notes Payable 5,000.00
Real, Capital 15,000.00
Real, Drawing 500.00
Service Income 16,500.00
Salary Expense 4,000.00
Rent Expense 3,500.00
Taxes and Licenses Expense 500.00
Lights, water and Telephone Expense 150.00
Miscellaneous Expense 350.00

Totals 43,000.00 43,000.00

Additional Data

1. It is estimated that only 80% od accounts receivable will be collected.

2. Office Equipment is depreciated at 10% per annum.
3. Office Furniture is depreciated at 12% per annum.
4. An ACTUAL count shows P100 worth of supplies to be on hand
5. Included un service income is an advance payment of P1,000 from a client for services to be
rendered next year.
6. No interest has been recorded on our own 60-6% promissory note for P2,000 dated
December 16 of the current year.
7. No interest has been recorded on our own 90-12% promissory note for P1,000 dated
December 1,2022.
8. Unpaid Salaries amounted to P500.
9. Rent was paid on August 1 for 7 months in advance.
10. Light bills not yet paid amounted to P50.

Required:

1. Prepare the necessary Adjusting Entries.

2. Prepare a 10 - column worksheet