NEED HELP WITH BALANCE SHEET:

Supporting documents:

NEED HELP WITHH LEDGER:

Question 10 of 10 MOTO HOTEL Trial Balance May 31, 2017 Credit Debit $ 2,343 2,600 1.800 14,843 67,600 16,800 $4,543 3,300 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 33,600 59,843 9,000 3,000 800 500 $110.286 $110,286 Other data: 1. 2. 3. Insurance expires at the rate of $360 per month. A count of supplies shows $1,050 of unused supplies on May 31. (a) Annual depreciation is $3,120 on the building, (b) Annual depreciation is $2,520 on equipment. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) Unearned rent of $2,530 has been earned. Salaries of $810 are accrued and unpaid at May 31. 4. 5. 6. 12 Prepare a classified balance sheet at May 31 (List current assets in order of liquidity. List Property Plant and Equipment in order of Land, Buildings and Equipment.) MOTO HOTEL Balance Sheet May 31, 2017 Assets Current Assets Cash Prepaid Insurance Supplies Total Assets Current Liabilities Liabilities and Stockholders' Equity ho eTextbook and Media List of Accounts 167 sty 12 Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property Plant and Equipment in order of Land, Buildings and Equipment.) MOTO HOTEL Balance Sheet May 31, 2017 Assets $ 2.343 1.800 2.600 $ 6743 S Liabilities and Stockholders' Equity = e Textbook and Media List of Accounts 12 otv Your answer is correct. Prepare a retained earnings statement for the month of May. MOTO HOTEL Retained Earnings Statement For the Month Ended May 31, 2017 Retained Earnings, May 1 Add : Net Income /(Loss) 3872 Retained Earnings. May 31 . 3872 MOTO HOTEL Income Statement For the Month Ended May 31, 2017 - Revenues Rent Revenue Expenses Salaries and Wages Expense $ 3810 i Utilities Expense 800 Advertising Expense 500 1550 i Supplies Expense Depreciation Expense Insurance Expense 470 i 260 i Interest Expense Total Expenses Net Income /(Loss) Part 3 Your answer is correct. Prepare an adjusted trial balance on May 31, MOTO HOTEL Adjusted Trial Balance May 31, 2017 Debit Credit 2343 $ 1050 Insurance 1440 14843 35 67600 ent 16800 lated Depreciation-Buildings 260 ilated Depreciation Equipment 210 ts Payable 4543 ed Rent Revenue 770 ge Payable 33600 and Wages Payable 810 Payable 168 in Stock 59843 venue 11530 and Wages Expense 3810 Expense 800 500 sing Expense s Expense 1550 lation Expense 470 ce Expense 360 Expense 168 111.734 $ 111,734 Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash 5/31 $2343 Supplies 2600 5/31 5/31 Bal, 5/31 1550 1050 Prepaid Insurance 5/31 5/31 4P . 5/31 Bal Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable