accounting

Question
Problem 4-3A (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 Debit Credit Cash $ 2,333 Supplies 2,600 Prepaid Insurance 1,800 Land 14,833 Buildings 71,200 Equipment 16,800 Accounts Payable $ 4,533 Unearned Rent Revenue 3,300 Mortgage Payable 37,200 Common Stock 59,833 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $113,866 $113,866 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,100 of unused supplies on May 31. 3. (a) Annual depreciation is $3,000 on the building. (b) Annual depreciation is $2,400 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,660 has been earned. 6. Salaries of $740 are accrued and unpaid at May 31.
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