Ily Abella Surveyors Trial Balance May 31, 2020 P 210,000 930,000 360,000 270,000 1,890,000 Cash Accounts Receivable Prepaid Advertising Engineering Supplies Survey Equipment Accum. Depreciation-Survey Equipt. Accounts Payable Unearned Survey Revenues Notes Payable Abella, Capital Abella, Withdrawals Survey Revenues Salaries Expense P 640,000 190,000 120,000 500,000 1,120,000 700,000 6,510,000 3,270,000 960,000 250,000 160,000 Rent Expense Insurance Expense Utilities Expense Miscellaneous Expense 80,000 P9,080,000 Totals P9,080,000 following information nertaining to the year-end adjustments is available:

Definition Definition Entries made at the end of every accounting period to precisely replicate the expenses and revenue of the current period. This is also known as end of period adjustment. It can also refer to financial reporting that corrects errors made previously in the accounting period. Every adjustment entry affects at least one real account and one nominal account.