The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment
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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 MOTO HOTEL Trial Balance May 31, 2017 Debit $ 2,623 2,600 1,800 15,123 70,000 16,800 3,000 800 500 $113,246 Credit $ 4,823 3,300 36,000 60,123 9,000 $113,246 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,480 on the building. (b) Annual depreciation is $2,880 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,590 has been earned. 6. Salaries of $730 are accrued and unpaid at May 31. 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 MOTO HOTEL Trial Balance May 31, 2017 Debit $ 2,623 2,600 1,800 15,123 70,000 16,800 3,000 800 500 $113,246 Credit $ 4,823 3,300 36,000 60,123 9,000 $113,246 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,480 on the building. (b) Annual depreciation is $2,880 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,590 has been earned. 6. Salaries of $730 are accrued and unpaid at May 31.
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Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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