Homework Answers
Adjusting entry
| No | Date | Account title and explanation | Debit | Credit |
| 1 | May 31 | Insurance expense (1800/12) | 150 | |
| Prepaid insurance | 150 | |||
| 2 | May 31 | Supplies expense (2150-700) | 1450 | |
| Supplies | 1450 | |||
| 3 | May 31 | Depreciation expense | 438 | |
| Accumulated depreciation-Building (3696/12) | 308 | |||
| Accumulated depreciation-equipment (1560/12) | 130 | |||
| 4 | May 31 | Interest expense (40000*6%*1/12) | 200 | |
| Interest payable | 200 | |||
| 5 | May 31 | Unearned rent revenue | 2200 | |
| rent revenue (3300*2/3) | 2200 | |||
| 6 | May 31 | Salaries and wages expense | 800 | |
| Salaries and wages payable | 800 | |||
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journalize the adjusting entries on May 31
Question 3 Cullumber's Hotel opened for business on May...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 3-02A a-d Cullumber's Hotel opened for business on May 1,...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. vork CULLUMBER'S HOTEL Trial Balance May 31, 2020 Credit Account Number 101 126 130 140 141 149 201 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 208...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Uneamed Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4,900 3,000 40,000...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Uneamed Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4,900 3,000 40,000...
Sheridan's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May...
Sheridan's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. SHERIDAN'S HOTEL Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $ 3,600 126 Supplies 2,100 130 Prepaid Insurance 1,800 140 Land 14,000 141 Buildings 62,200 149 Equipment 15,000 201 Accounts Payable $ 4,700 208 Unearned Rent Revenue 3,300 275 Mortgage Payable 40,000 301 Owner’s Capital 41,100 429 Rent Revenue 14,450 610 Advertising Expense 550 726 Salaries and...
Question 3 Cullumber's Hobe opened for business on May 1, 2020. Its trial balance before adjustment...
Question 3 Cullumber's Hobe opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Supplies Prepaid Insurance 130 Debit $1,400 2,150 1,300 13,000 61,600 15,600 Land 140 141 149 201 200 275 Buildings Equipment Accounts Payable Jnearned Rant revenue Mortgage Peyable Owner's Capital Rent vente Advertising Expense Saarlas and Wages Expense Utlities Experse $4,700 3,300 40,000 41,000 13,500 301 610...
Journalize the adjusting entries on May 31. The Whispering Winds Corp.opened for business on May 1,...
Journalize the adjusting entries on May 31.
The Whispering Winds Corp.opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Whispering Winds Corp. Trial Balance May 31, 2022 Credit Account Number 101 126 130 Debit $3,430 2,042 2,352 11,760 58,800 14,160 140 141 149 200 Cash Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 201...
a. Journalize the adjusting entries on May 31. b. Prepare a ledger using T-accounts. Enter the...
a. Journalize the adjusting entries on May 31.
b. Prepare a ledger using T-accounts. Enter the trial balance
amounts and post the adjusting entries.
c. Prepare an adjusted trial balance on May 31.
d. Prepare an income statement for the month of May.
e. Prepare a retained earnings statement for the month of
May.
f. Prepare a classified balance sheet at May 31.
g. Identify which accounts should be closed on May 31..
example of prefered formating above if you...
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
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...
Fill in the balance sheet above. Problem 4-03A The Cullumber Hotel opened for business on May...
Fill in the balance sheet above.
Problem 4-03A The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,343 2,600 1,800 14,843 67,600 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 $ 4,543 3,300 33,600 59,843 9,000 3,000 800 500 $110,286...
The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before...
The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,343 2,600 1,800 14,843 67,600 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 $ 4,543 3,300 33,600 59,843 9,000 3,000 800 500 $110,286 $110,286 Other data: 1. Insurance expires at the...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. vork CULLUMBER'S HOTEL Trial Balance May 31, 2020 Credit Account Number 101 126 130 140 141 149 201 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 208...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Uneamed Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4,900 3,000 40,000...
CALCULATOR STANDARD VIEW PRINTER VERSION « BACK NEXT Problem 3-02A a-d Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Debit $3,400 2,050 1,800 13,000 58,800 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Uneamed Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4,900 3,000 40,000...
Question 3 Cullumber's Hobe opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 Supplies Prepaid Insurance 130 Debit $1,400 2,150 1,300 13,000 61,600 15,600 Land 140 141 149 201 200 275 Buildings Equipment Accounts Payable Jnearned Rant revenue Mortgage Peyable Owner's Capital Rent vente Advertising Expense Saarlas and Wages Expense Utlities Experse $4,700 3,300 40,000 41,000 13,500 301 610...
Journalize the adjusting entries on May 31.
The Whispering Winds Corp.opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Whispering Winds Corp. Trial Balance May 31, 2022 Credit Account Number 101 126 130 Debit $3,430 2,042 2,352 11,760 58,800 14,160 140 141 149 200 Cash Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 201...
a. Journalize the adjusting entries on May 31.
b. Prepare a ledger using T-accounts. Enter the trial balance
amounts and post the adjusting entries.
c. Prepare an adjusted trial balance on May 31.
d. Prepare an income statement for the month of May.
e. Prepare a retained earnings statement for the month of
May.
f. Prepare a classified balance sheet at May 31.
g. Identify which accounts should be closed on May 31..
example of prefered formating above if you...
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...
Fill in the balance sheet above.
Problem 4-03A The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,343 2,600 1,800 14,843 67,600 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 $ 4,543 3,300 33,600 59,843 9,000 3,000 800 500 $110,286...
The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,343 2,600 1,800 14,843 67,600 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 $ 4,543 3,300 33,600 59,843 9,000 3,000 800 500 $110,286 $110,286 Other data: 1. Insurance expires at the...
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