Reference no: EM132700400

Question - Provide the adjusting entries and adjusting balance.

On October 10, 2020 you were asked by Ms. Zionra to prepare the Financial Statements for the month of September. Ms. Zionra also gave you the following data/information on this date.

The company received a bill from Visayas Electric Co. on October 5 for electricity consumption in the month of September which was paid October 8, P2,000.

The company received and paid a bill from Metro Cebu Water System on October 6, P500 for its water consumption in the month of September.

The company received a bill from Smart Telecom on October 3 for its postpaid plan, P1,500.

The receptionist gave a list of the unused supplies on September 30 amounting to P10,200.

The receptionist also gave a list of customers who were not yet billed for the services already rendered by the Simple Consulting, total amount P43,500.

It was determined that the office equipment have an estimated useful life of 5 years.

The receptionist resigned on September 30 and she was paid her salaries for two days amounting to P800. A new receptionist was already hired as replacement on Oct 1.