THIS IS WHAT I NEED HELP ON. PLEASE CHECK & CORRECT THE ONES I HAVE FILLED OUT
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THIS IS WHAT I NEED HELP ON. PLEASE CHECK & CORRECT THE ONES I HAVE FILLED OUT AND THEN HELP ME WITH THE REMAINING.
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Practice Problem 1 (Part Level Submission) 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 Credit Debit $ 2,473 Cash Supplies 2,600 Prepaid Insurance 1,800 Land 14,973 Buildings 72,400 Equipment 16,800 Accounts Payable $4,673 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,973 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $115,346 $115,346 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,170 of unused supplies on May 31. 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,120 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,540 has been earned. 6. Salaries of $780 are accrued and unpaid at May 31. Practice Problem 1 (Part Level Submission) 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 Credit Debit $ 2,473 Cash Supplies 2,600 Prepaid Insurance 1,800 Land 14,973 Buildings 72,400 Equipment 16,800 Accounts Payable $4,673 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,973 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $115,346 $115,346 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,170 of unused supplies on May 31. 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,120 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,540 has been earned. 6. Salaries of $780 are accrued and unpaid at May 31.
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Answer rating: 100% (QA)
531 Bal 531 531 Bal 531 531 Bal 531 Bal 531 Bal Cash 2473 Supplies 2600 531 1170 Prepa... View the full answer
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073212227
8th Edition
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
Posted Date:
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