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adjusting entries Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial
adjusting entries
Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $ 3.400 126 Supplies 2,050 130 Prepaid Insurance 1,800 140 Land 13,000 141 Buildings 58,800 149 Equipment 15,600 201 Accounts Payable $ 4.900 208 Unearned Rent Revenue 3,000 275 Mortgage Payable 40,000 301 Owner's Capital 41,000 429 Rent Revenue 10,500 610 600 Advertising Expense Salaries and Wages Expense 726 3,200 732 Utilities Expense 950 $ 99,400 $ 99,400 Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Cash No. 101 Date Explanation Ref. Debit Credit Balance May 31 Balance No. 126 Supplies Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 31 No. 130 Prepaid Insurance Date Explanation Ref. Debit Credit Balance May 31 Balance Mary 31 Adjusting 31 No. 140 Land Date Credit Balance Explanation Ref. Debit May 31 Balance Buildings No. 141 Date Explanation Ref. Debit Credit Balance May 31 Balance No. 142 Accumulated Depreciation- Buildings Date Explanation Ref. Debit Credit Balance May 31 Adjusting 31 No. 149 Equipment Date Explanation Ref. Debit Credit Balance May 31 Balance No. 150 Accumulated Depreciation- Equipment Date Explanation Ref. Debit Credit Balance May 31 Adjusting 31 No. 201 Accounts Payable Date Explanation Ref. Debit Credit Balance May 31 Balance No. 208 Unearned Rent Revenue Date Explanation Ref. Debit Credit Balance May 31 Balance 31 May 31 Adjusting Salaries and Wages Payable Date Explanation No. 212 Ref. Debit Credit Credit Balance May 31 Adjusting J1 No. 230 Interest Payable Date Explanation Ref. Debit Credit Balance May 31 Adjusting 31 No. 275 Mortgage Payable Date Explanation Ref. Debit Credit Balance May 31 Balance Owner's Capital Date Explanation No. 301 Ref. Debit Credit Balance May 31 Balance No. 429 Rent Revenue Date Explanation Ref. Debit Credit Balance No. 610 Advertising Expense Date Explanation Ref. Debit Credit Balance May 31 Balance No. 619 Depreciation Expense Date Explanation Ref. Debit Credit Balance J1 May 31 Adjusting Supplies Expense Date Explanation No. 631 Ref. Debit Credit Balance May 31 Adjusting 31 No. 718 Interest Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting J1 No. 722 Insurance Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting 31 No. 726 Salaries and Wages Expense Date Explanation Balance Ref. Credit Debit No. 732 Utilities Expense Date Explanation Ref. Debit Credit Balance May 31 Balance No. Date Account Titles and Explanation Debit Credit 1. May 31 Insurance Expense 150 Prepaid insurance 150 May 2. Supplies Experie 1350 31 Supplies 1350 May 3 Depreciation Experte 424 31 Accumulated Depreciation Buildings 294 Accumulated Depreciation Equipment 130 4. May 31 Interest Expense 200 Interest Payable 200 5. May 31 Unearhed Rent Revenge 2000 Rent Revenue 2000 800 6. May 31 Salaries and Wages Expense 800 Salaries and Wages Payable Step by Step Solution
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