Image transcription text Basically, this practice set encompasses the different kinds of business organization and

Image transcription text
Basically, this practice set encompasses the different kinds of business
organization and their activities. The business started as a sole proprietorship,
became a partnership, and then converted to a corporation that …
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PARTNERSHIP AND CORPORATION ACCOUNTING 656 Maabilidad Service
Trial Balance For the Year Ended December 31, 200a Dr. Cr. P 10,000 Cash
20,000 Accounts receivable 12% Notes receivable 130,000 Prep…
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657 Practice Set: PINES CITY CORPORATION He will contribute his own
delivery truck which he purchased for 3. P400,000, The replacement cost of a
brand new truck is P500,900, A second hand truck with the sam…
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PARTNERSHIP AND CORPORATION ACCOUNTING 650 Accounts receivable
are collectible only at 95%. b. A six-month accrued interest of the notes
receivable should be recognized and recorded. Prepaid supplies …
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Practice Set: PINES CITY CORPORATION 3. Operating expenses paid in
cash: a. Partic a salaries, P420,000. b. Salaries expense, P360,000. C.
Supplies expenses, P60,000. d. Transportation expense, P40,00…
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Kindly solve the following:
Schedule of profit and loss dist.
Closing entries income summary to capital
Income statement
Statement of Financial Position