The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.
MOTO
HOTEL Trial Balance May 31, 2017 |
||||||
Debit |
Credit |
|||||
Cash | $ 2,333 | |||||
Supplies | 2,600 | |||||
Prepaid Insurance | 1,800 | |||||
Land | 14,833 | |||||
Buildings | 67,600 | |||||
Equipment | 16,800 | |||||
Accounts Payable | $ 4,533 | |||||
Unearned Rent Revenue | 3,300 | |||||
Mortgage Payable | 33,600 | |||||
Common Stock | 59,833 | |||||
Rent Revenue | 9,000 | |||||
Salaries and Wages Expense | 3,000 | |||||
Utilities Expense | 800 | |||||
Advertising Expense |
500 |
|||||
$110,266 |
$110,266 |
Other data:
1. | Insurance expires at the rate of $450 per month. | |
2. | A count of supplies shows $1,070 of unused supplies on May 31. | |
3. | (a) Annual depreciation is $3,840 on the building. | |
(b) Annual depreciation is $3,240 on equipment. | ||
4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
5. | Unearned rent of $2,630 has been earned. | |
6. | Salaries of $730 are accrued and unpaid at May 31. |
v
Cash | |||||
31-May | 2,333 | ||||
supplies | |||||
31-May | 2,600 | 31-May | 1,530 | ||
Bal | 1070 | ||||
prepaid insurance | |||||
31-May | 1,800 | 31-May | 450 | ||
Bal | 1350 | ||||
land | |||||
31-May | 14,833 | ||||
Buildings | |||||
31-May | 67,600 | ||||
Accumulated depreciation-buildings | |||||
31-May | 320 | ||||
end bal | 320 | ||||
Equipment | |||||
31-May | 16,800 | ||||
Accumulated depreciation-Equipment | |||||
31-May | 270 | ||||
end bal | 270 | ||||
Accounts payable | |||||
31-May | 4,533 | ||||
Unearned rent revenue | |||||
31-May | 2630.00 | 31-May | 3,300 | ||
end bal | 670 | ||||
Salaries and Wages payable | |||||
31-May | 730 | ||||
end bal | 730 | ||||
interest payable | |||||
31-May | 140 | ||||
end bal | 140 | ||||
Mortgage payable | |||||
31-May | 33,600 | ||||
Common stock | |||||
31-May | 59,833 | ||||
Rent revenue | |||||
31-May | 9,000 | ||||
31-May | 2630 | ||||
end bal | 11,630 | ||||
Salaries and wages expense | |||||
31-May | 3,000 | ||||
31-May | 730 | ||||
31-May | 3,730 | ||||
Utilties expense | |||||
31-May | 800 | ||||
Advertising expense | |||||
31-May | 500 | ||||
Interest expense | |||||
31-May | 140 | ||||
31-May | 140 | ||||
insurance expense | |||||
31-May | 450 | ||||
31-May | 450 | ||||
supplies expense | |||||
31-May | 1530 | ||||
31-May | 1530 | ||||
depreciation expense | |||||
31-May | 320 | ||||
31-May | 270 | ||||
31-May | 590 | ||||
The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before...
The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.MOTO HOTELTrial BalanceMay 31, 2017DebitCreditCash$ 2,333Supplies2,600Prepaid Insurance1,800Land14,833Buildings67,600Equipment16,800Accounts Payable$ 4,533Unearned Rent Revenue3,300Mortgage Payable33,600Common Stock59,833Rent Revenue9,000Salaries and Wages Expense3,000Utilities Expense800Advertising Expense500$110,266$110,266Other data:1.Insurance expires at the rate of $450 per month.2.A count of supplies shows $1,070 of unused supplies on May 31.3.(a) Annual depreciation is $3,840 on the building.(b) Annual depreciation is $3,240 on equipment.4.The mortgage interest rate is 5%. (The mortgage was taken...
MOTO HOTEL Trial Balance May 31, 2017 Debit Credit Cash $ 2,333 Supplies 2,600 Prepaid Insurance 1,800 Land 14,833 Buildings 67,600 Equipment 16,800 Accounts Payable $ 4,533 Unearned Rent Revenue 3,300 Mortgage Payable 33,600 Common Stock 59,833 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,266 $110,266 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,070 of unused supplies on May 31. 3. (a)...
The Moto Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. MOTO HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,500 2,600 1,800 15,000 70,000 16,800 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense $4,700 3,300 36,000 60,000 9,000 3,000 800 500 $113,000 $113,000 Other data: (b) Prepare a ledger using T-accounts....
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