The following are the ending balances of the accounts of the HAPPYPLUS SERVICES for the fiscal year ended September 30, 2016 Instructions: Account titles DEBIT CREDIT Accounts Payable P 297000 Accounts Receivable P 650000 Accrued Interest Income 34000 Accrued Rent Expense 90756 Accumulated Depreciation- Equipment 130000 Accumulated Depreciation-Building 250000 Advances to Employees 75700 Allowance for Bad Debts 120000 Bad Debts Expense 22900 Building 650125 Cash 560123 Depreciation Expense- Building 123560 Depreciation Expense-Equipment 45600 Dividend Income 785694 Equipment 230000 JASON, Drawing 154000 JASON, Capital (October 1) 342858 Insurance Expense 28000 Interest Expense (Notes) 55800 Interest Expense (Bonds) 3800 Interest Income 35600 Investment in Trading Securities 380000 Land 500000 Loans Payable (due on 2020) 500000 Miscellaneous Expense 40000 Mortgage Payable (due in 2020 520000 Notes Payable 100000 Notes Receivable 170000 Prepaid Subscription 9000 Prepaid Supplies 15200 Rent Payable 87900 Repairs and Maintenance Expense 30000 Salaries Expense 225000 Service Income 898000 Supplies Expense 85000 Taxes and Licenses Expense 45000 Unearned Service Income 120000 Utilities Expense 145000 TOTAL P 4277808 P 4277808 Instructions:
Prepare the following:
a. Step 1 : On Worksheet #1 - Notes to Financial Statement ( Note 1-Other Income, Note 2: Depreciation Expense; Notes 3: Finance Cost ; Note 4: Trade and Other Receivables Note 5: Prepaid Expense, Note 6: Property, Plant and Equipment, Note 7: Trade and Other Payable) b. Step 2: On Worksheet #2 -left side - upper portion - Income Statement c. Step 3: On Worksheet #2 - left side - lower portion - Statement of Changes in Owner's Equity d. Step 4 : On Worksheet #2- right side - Statement of Financial Position - Report Form