The Al Khaleej Grand Hotel opened for business on February 1, 2019. Its trial balance before adjustment
Question:
The Al Khaleej Grand Hotel opened for business on February 1, 2019. Its trial balance before adjustment on February 28 is as follows.
AL KHALEEJ GRAND HOTEL
Trial Balance
February 28, 2019
Account Number Debit Credit
101 Cash BD 7,000
126 Supplies 4,160
130 Prepaid Insurance 4,800
140 Land 24,000
141 Buildings 120,000
149 Equipment 30,000
201 Accounts Payable BD 9,600
208 Unearned Rent Revenue 6,600
275 Mortgage Payable 80,000
301 Owner’s Capital 82,760
429 Rent Revenue 20,600
610 Advertising Expense 1200
726 Salaries and Wages Expense 6,600
732 Utilities Expense 1800
BD199,560 BD199,560
In addition to those accounts listed on the trial balance, the chart of accounts for Al Khaleej Grand Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation—Buildings, No. 150 Accumulated Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense.
Additional data:
Required
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso