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Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2023: Additional information available for the month ended September 30, 2023: Interest of
Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2023:
Additional information available for the month ended September 30, 2023:
- Interest of $153 had accrued on the notes payable for the month of September.
- The office furniture was acquired on September 1, 2023, and has an estimated four-year life. The furniture will be sold for about $1,700 at the end of its four-year life.
- A count of the Repair Supplies revealed a balance on hand of $670.
- A review of the Prepaid Rent account showed that $11,000 had been used during September.
- Accrued wages of $2,650 had not been recorded at month-end.
- The September Internet bill for $110 had been received and must be paid by October 14.
- Accrued revenues of $5,900 were not recorded at September 30.
Required: 1. Complete the adjusted trial balance by including the adjusting entries.
2-b. Prepare a statement of changes in equity based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3,300. 2-c. Prepare a balance sheet based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3,600. 2-a. Prepare an income statement based on the adjusted trial balance completed inStep by Step Solution
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