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Case Prelim ACC 101 August 15 2025giducos

The document presents the unadjusted trial balance and adjustments for EDCU INC as of March 31, 2023. It includes various accounts such as withdrawals, utilities, service revenue, and expenses, along with required adjustments for accurate financial reporting. The adjustments aim to reflect accrued revenues and expenses, ensuring the financial statements are complete and accurate.

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41 views6 pages

Case Prelim ACC 101 August 15 2025giducos

The document presents the unadjusted trial balance and adjustments for EDCU INC as of March 31, 2023. It includes various accounts such as withdrawals, utilities, service revenue, and expenses, along with required adjustments for accurate financial reporting. The adjustments aim to reflect accrued revenues and expenses, ensuring the financial statements are complete and accurate.

Uploaded by

domasianvera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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EDCU INC

as of March 31, 2023


Accounts Unadjusted Trial Balance Adjustments
Withdrawal ₱30,000.00
Utilities ₱12,000.00
Unaearned revenue ₱60,000.00 ₱20,000.00
Supplies ₱5,000.00
Service Rev ₱120,000.00
Salaries ₱36,000.00 ₱15,000.00
Prepaid rental ₱90,000.00
Prepaid Insurance ₱15,000.00
Notes Payable ₱90,000.00
Furniture/Fixtures ₱160,000.00
Equipment ₱200,000.00
Cash ₱92,000.00
Capital ₱500,000.00
Accounts Rec ₱185,000.00 ₱20,000.00
Accounts Pay ₱55,000.00
₱825,000.00 ₱825,000.00
Accumulated dep -eqpt
Accumulated Depreciation -FF
Depreciation exp-FF ₱7,600.00
Interest expense ₱2,700.00
Salaries payable
Interest payable
Depreciation exp equipt ₱9,500.00
supplies exp ₱2,000.00
Insurance expense ₱3,750.00
₱80,550.00
Items for adjustments: [ assume that no adjustments were recorded for the quarter]
A. The notes payable bears an interest of 12% per annum, issued Jan 1 2023
B. Service revenue earned but not yet billed to the clients totaled Php 20K.
C. The Unearned Revenue represents 3months customer deposit beginning
February to April 2023
D. Insurance policy has one year coverage Beg. Jan 1, 2023
E. Supplies on hand as of March 31 is 3000
F. Equipment and Fur/Fixtures were both acquired Jan 1, 2023 with 5 year
estmated life and 5% scrap value
G. Accrued salaries for the period amounted to 15K

Required:
Complete the worksheet
Adjustments Adjusted Trial Balance Profit and Loss Statement of Financial Position Closing
₱30,000.00
₱12,000.00 ₱12,000.00
₱40,000.00 ₱40,000.00
₱2,000.00 ₱3,000.00 ₱3,000.00
₱40,000.00 ₱160,000.00 ₱160,000.00 ₱160,000.00
₱51,000.00 ₱51,000.00
₱90,000.00 ₱90,000.00
₱3,750.00 ₱11,250.00 ₱11,250.00
₱90,000.00 ₱90,000.00
₱160,000.00 ₱160,000.00
₱200,000.00 ₱200,000.00
₱92,000.00 ₱92,000.00
₱500,000.00 ₱500,000
₱205,000.00 ₱205,000.00
₱55,000.00 ₱55,000.00
₱9,500.00 ₱9,500.00 (₱9,500.00)
₱7,600.00 ₱7,600.00 (₱7,600.00)
₱7,600.00 ₱7,600.00
₱2,700.00 ₱2,700.00
₱15,000.00 ₱15,000.00 ₱15,000.00
₱2,700.00 ₱2,700.000 ₱2,700.00
₱9,500.00 ₱9,500.00
₱2,000.00 ₱2,000.00
₱3,750.00 ₱3,750.00
₱80,550.00 ₱879,800.00 ₱879,800.00 ₱71,450.00 ₱744,150 ₱744,150.00
Closing PCTB
₱30,000.00
₱51,000.00
₱40,000.00
₱3,000.00

₱51,000.00
₱90,000.00
₱11,250.00
₱90,000.00
₱160,000.00
₱200,000.00
₱92,000.00
₱541,450.00
₱205,000.00
₱55,000.00
₱9,500.00
₱7,600.00
₱7,600.00
₱2,700.00
₱15,000.00
₱2,700.00
₱9,500.00
₱2,000.00
₱3,750.00
₱761,250.00 ₱761,250.00

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