What is the adjustment journal entry and the worksheet? The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows:Cash504,000Accounts Receivable789,000Prepaid RentCooking Supplies144,00357,000Land530,000BuildingAccumulated Depreciation- BuildingCooking EquipmentAccumulated Depreciation- Cooking1,250,000413,000870,000212,000EquipmentNotes PayableAccounts Payable1,400,000117,000Bibonia, CapitalBibonia, WithdrawalsGourmet Cooking RevenuesSalaries ExpenseTravel ExpenseAdvertising Expense1,435,000240,0002,256,000619,000127,000215,000Insurance Expense40,000Utilities ExpenseMiscellaneous Expense102,00046,000ТOTAL5,833,0005,833,000Additional Information:a. One-half of the prepaid rent has expired.b. Cooking supplies on hand at year end amounted to P25,000c. Depreciation on the building and the cooking equipment amounted to P28,000 and P52,000,respectivelyd. Accrued Salaries at year end amounted to P27,000e. Interest amounting to P252,000 has accrued on notes payable. Interest on the note is paid everyJanuary 1. The note matures on January 1, 2020.

The adjustment entries are made to adjust the revenues and expenses of the current period.

The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows: Cash 504,000 789,000 Accounts Receivable Prepaid Rent Cooking Supplies 144,00 357,000 Land 530,000 Building Accumulated Depreciation- Building Cooking Equipment 1,250,000 413,000 870,000 Accumulated Depreciation- Cooking 212.000

The unadjusted trial balance of the E. Bibonia Company for December 31, 2019 follows: Cash 504,000 789,000 Accounts Receivable Prepaid Rent Cooking Supplies 144,00 357,000 Land 530,000 Building Accumulated Depreciation- Building Cooking Equipment 1,250,000 413,000 870,000 Accumulated Depreciation- Cooking 212.000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 11E: On May 10, 2019, Horan Company purchased equipment for 25,000. The equipment has an estimated...

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