9:11 mecs.brightspace.com odge Problem and nstruction odge Problem and nstruction for Monday During December 20X1, the Smoky Mtn Lodge accounting records needed the following year-end adjustments 1) Unexpired insurance at December 31: 51.000 2) Supplies on hand at December 31" $500 3) Depreciation of building for the entire year: $10,000 Depreciation on woment is the remaining book value 4) Acme Company paid 55,000 on December 30 for February 2020 lodging reservations that has not been recorded to the accounting records 5) Smoky salaries and wages for the week are $6,000 for a seday work week following Saturday, December 31 ward and will be the 6) Lodging revenue earned for December 31st reservations not collected 7) Smoky collected Vernon Co.'s outstanding lodging balance due since November 28: 54,000 In addition to the General Ledger accounts listed on the Unadjusted Tral Balance Smoky Mtn. Lodge also uses the following General Ledger accounts: Depreciation Expense Uneamed Lodging Revenue Instructions: 1) Record each business transaction to the General Journal Template provided using proper journal entry structure including a brief entry explanation Leave a line space between each journal entry. 2) Post the General Journal entries to the appropriate General Ledger accounts using the General Ledger Template. Maintain a running balance for each General Ledger account 3) Prepare an Adjusted Trial Balance as of December 31, 20X1. Note: The Adjusted Trial Balance is used to prepare the period's final Income Statement and Balance Sheet 4) Determine Smoky Mountain Lodging Net Operating Income (Loss) for December 31, 20x1.Type your answer in the box provided on the bottom of the Adjusted Trial Balance Template Place your name on all submitted documents Submit the General Journal, General Ledger, and Unadjusted Trial Balance as separate submissions. Work product neatness counts in the workplace and will count for class submissions toe. 9:11 mecs.brightspace.com odge Problem and nstruction odge Problem and nstruction for Monday During December 20X1, the Smoky Mtn Lodge accounting records needed the following year-end adjustments 1) Unexpired insurance at December 31: 51.000 2) Supplies on hand at December 31" $500 3) Depreciation of building for the entire year: $10,000 Depreciation on woment is the remaining book value 4) Acme Company paid 55,000 on December 30 for February 2020 lodging reservations that has not been recorded to the accounting records 5) Smoky salaries and wages for the week are $6,000 for a seday work week following Saturday, December 31 ward and will be the 6) Lodging revenue earned for December 31st reservations not collected 7) Smoky collected Vernon Co.'s outstanding lodging balance due since November 28: 54,000 In addition to the General Ledger accounts listed on the Unadjusted Tral Balance Smoky Mtn. Lodge also uses the following General Ledger accounts: Depreciation Expense Uneamed Lodging Revenue Instructions: 1) Record each business transaction to the General Journal Template provided using proper journal entry structure including a brief entry explanation Leave a line space between each journal entry. 2) Post the General Journal entries to the appropriate General Ledger accounts using the General Ledger Template. Maintain a running balance for each General Ledger account 3) Prepare an Adjusted Trial Balance as of December 31, 20X1. Note: The Adjusted Trial Balance is used to prepare the period's final Income Statement and Balance Sheet 4) Determine Smoky Mountain Lodging Net Operating Income (Loss) for December 31, 20x1.Type your answer in the box provided on the bottom of the Adjusted Trial Balance Template Place your name on all submitted documents Submit the General Journal, General Ledger, and Unadjusted Trial Balance as separate submissions. Work product neatness counts in the workplace and will count for class submissions toe
