Under the Revised Chart of Accounts (2019), the following are the expense accounts for: Utility Expenses a. Water Expenses b. Electricity Expenses c. Gas/Heating Expenses d. Other Utility Expenses General Services a. Environment/Sanitary Services b. Janitorial Services C. Security Services d. Other General Services Agency A issued MDS checks for the following payments : 1. Meralco bill - P150,000.00 2. Maynilad bill - P70,000.00 3. Tagalinis Janitorial Services - P250,000.00O 4. Tagabantay Security Services - P300,000.00 What is the accounting entry to be recorded in Journal Entry Voucher (JEV) for the above transactions? Answer in this format. Account Title Dr. Cr.

Prepare the December 31 year-end entry that companies record to adjust the Revenue and the Unearned Revenue accounts.

During the year ended December 31, 2021 the following transactions occurred: The table is in the pictures  Prepare all the journal entries necessary to record the above transactions and any necessary December 31 year end adjusting entries. No need to provide closing entries. Ignore income and sales taxes . Clearly label of the number is credited or debited

Sunshine and Rainbows Resort had the following balances at December 31, 2025, before the year-end adjustments: View the balances. The aging of accounts receivable yields the following data: View the accounts receivable aging schedule. Requirements 1. Journalize Sunshine and Rainbows Resort's entry to record bad debts expense for 2025 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Requirement 1. Journalize Sunshine and Rainbows Resort's entry to record bad debts expense for 2025 using the aging-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Dec. Date 31 Accounts and Explanation Debit Credit Balances - ☑ Accounts Receivable Aging Schedule Age of Accounts Receivable 0-60 Days Over 60 Days Total Receivables Accounts Receivable 75,000 $ 3,000 $ 78,000 Estimated percent uncollectible × 4% * 24% - ☑ Accounts Receivable Allowance for Bad…

Blossom Industries received its 2024 annual property tax bill for $21,300 on May 1. The taxes covered the period January-December, were payable by June 30 and were paid on that date. Blossom has a December 31 fiscal year end and makes annual adjusting entries. (a) Prepare the journal entry to record the receipt of the property tax bill on May 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles and Explanation Debit Credit May 1

On November 30, 2019, Davis Company and the following account balances: 1. Prepare general journal entries to record preceding transactions. 2. Post to general ledger T-accou11ts. 3. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information: (a) accrued salaries at year-end total $1,200; (b ) for simplicity, the building and equipment are being depreciated using the stright-line method over an estimated life of 20 years with no residual all c) supplies on hand at the end of the year total $630; (d ) bad debts expense for the year totals $830; and (e ) the income tax rate is 30%; income taxes are payable in the first quarter of 2020. 4. Prepare company's financial statements for 2019 . 5. Prepare 2019 (a) adjusting and (b) closing entries in the general journal.

Prepare year-end adjusting journal entries for M&R Company as of December 31 for each of the following separate cases. Entries can draw from the following partial chart of accounts: Cash; Accounts Receivable; Interest Receivable; Equipment; Wages Payable; Salary Payable; Interest Payable; Lawn Services Payable; Unearned Revenue; Revenue; Interest Revenue; Wages Expense; Salary Expense; Supplies Expense; Lawn Services Expense; and Interest Expense. a. M&R Company provided $2,000 in services to customers in December. Those customers are expected to pay the company sometime in January following the company’s year-end. b. Wage expenses of $1,000 have been incurred but are not paid as of December 31. c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for the year ended December 31. The company will pay the $400 interest in cash on January 2 following the company’s year-end. d. M&R Company hired a firm that provided lawn…

DI-TWO Corporation had the following accounts and their balances on December 31 before any adjustments: Sales P5,000,000 Accounts Receivable 600,000 Allowance for doubtful accounts 25,000

Adams Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2019: Amount 10,000 Customer Billy Adams Stan Fry 8,000 Tammy Imes Shana Wagner 5,000 1,700 Total 24,700 a. Journalize the write-offs for 2019 under the direct write-off method. b. Journalize the write-offs for 2019 under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $2,600,000 of credit sales during 2019. Based on past history and industry averages, 1.75% of credit sales are expected to be uncollectible. c. How much higher or lower would Adams Company's 2019 net income have been under the direct write-off method than under the allowance method? %24