Homework Answers
1.
Answer is a. Revenues to be understated
2.
Answer is d. Debit Supplies expense $5040 and credit Supplies
$5040
3.
Answer is a. Debit unearned rent revenue $2760 and credit rent
revenue $2760
4.
Answer is c. Debit to Insurance expense $64 i.e. $85-21
5.
Answer is a. Credit to Accumulated Depreciation $624
6.
Answer is b. Debit Supplies and credit supplies expense $1170
7.
Answer is b. Debit unearned rent revenue $4480 and credit rent
revenue $4480
8.
Answer is d. Debit accounts receivable and credit service
revenue
9.
Salaries expense = $13200 / 5 x 2 = $5280
Answer is c. $5280
10.
Total = $2745+7450+1245-1400+1110+710 = $11860
Answer is b. 11860
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SELECT BEST ANSWER 5- The trial balance for Sheridan Company appears as follows: Sheridan Company Trial...
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E 21 AaBbCcDdEe AaBbCcDdEe AaBbCcD AaBbCcDd v Normal No Spacing Heading 1 Heading 2 Part 4:...
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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
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Unearned Rent Revenue
3,300
Mortgage Payable
33,600
Common Stock
59,833
Rent Revenue
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Salaries and Wages
Expense
3,000
Utilities Expense
800
Advertising Expense
500
$110,266
$110,266
Other data:
1.
Insurance expires at the...
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14HINWIR (Part 1) Credit Cash Supplies Prepaid Insurance Debit $ 2,573 2.600 1,800 15,073 67,600 16,800 Land Buildings Equipment Accounts Payable $4.773 Unearned Rent Revenue Mortgage Payable 3,300 33,600 60,073 9,000 Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense 3,000 800 Advertising Expense 500 $110.746 $110,746 Other data: 1. Insurance expires at the rate of $450 per month 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,840 on...
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...
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