PAO What I Can Do Module 7 A. Directions: Compute the adjustments for the given situations below. Write your answers on a separate sheet of paper. 1. The total sale was P 500,000. The sales on cash basis amounted to P 100,000. The business is providing 1% of credit sales as bad debts expense. How much is the bad debts expense to be reported for the period? 2. The beginning balance of unused supplies is P 1,000. During the period, the total purchases of supplies is P1,500 which was debited to Prepaid Supplies. At the end of the period, the actual unused supplies are P200. How much is the supplies expense to be reported for the period? 3. On June 30, 2020, Bag Packers Trading purchased a new store equipment for P 200,000 with an estimated useful life of 10 years and a salvage value of P 5,000. How much is the depreciation to be reported at the end of December 2020? 4. The one-year insurance of P 60,000 was paid on December 1, 2020. How much is the prepaid insurance at the end of December 31, 2020? 5. The prepaid rent is P 15,000 for three months starting November 30, 2020. The prepayment was debited to Prepaid Rent. How much is the expired rent at the end of December 31, 2020? 12 B. Directions: On a ten-columns columnar sheet, copy and complete the portion of the worksheet of Isda-An Hobby Shop owned by Nimo for the year ended. December 31, 2020. The additional information appears below. a. Accrued salaries at year-end amounted to P 30,000. b. Rent in the amount of P 100,000 expired during the year. c. Depreciation on shop equipment is P 100,000. d. The December 31 merchandise inventory amounted to P 500,000. ledaAn Hoppy Shop Wordsheet Dember 31, 2000 Adjusted once Account Tes Til Balance Statement of Comprehensive home Til Balance Debit Credit Cash Accounts Rele Methode Inventory Prep Shop Bipment Acception Accounts Pale New Cal Non Withd Sal Si Pathees Pachetats and ans Frigin Sales Expense Advertising Expense Lite:Bqmse Supplies Expense Hent Expe Demiston Expre Titl Net home Netlo Tich Adjustment Charit Deb Credit 200.000 450.000 1,380,000 2.850.000 150,000 Debit 200,000 320,000 700000 300,000 1,700,000 80,000 100,000 800.000 100,000 400,000 145,000 105,000 50.000 50000.000 5.000.000 Debit Credit Setement of Debit Credit