Answer Happy

Lesson III Activity: Journalizing, Posting, Worksheet, Adjusting, Closing the Financial Statements Instructions Instructions JOURNALIZING, POSTING, WORKSHEET, ADJUSTING ENTRIES, TRIAL BALANCE Matthews Delivery Service completed the following transactions during its first month of operations for January 2022 a Owner invested cash Php 60,000 and Equipment Php 40,000 b. Performed delivery services for a customer and received Php 10,000 cash c. Completed a large delivery job, billed the customer Php8,000 and received a promise to pay to collect next month. d. Paid utilities Php2,000. e. Purchased supplies on account Php 4,000. f. Performed delivery services on account Php 10,000 g. Paid accounts payable to supplier Php 1,000. Utilize the following account title:
g. Paid accounts payable to supplier Php1,000. Utilize the following account title: Balance Sheet Accounts Cash Equipment Accounts receivable Accounts payable Supplies Capital Income Statement Accounts Supplies Utilities Revenue
Instructions: 1. Record each transaction in a journal. 2. Post the transactions in T-accounts. 3. Prepare Unadjusted Trial Balance 4. Adjusting entries to be recorded a. Accrued salary expense Php 10,000 b. Unearned revenue Php 20,000 5. Prepared Adjusted Trial Balance