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Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2023: ARROW HOSPITALITY Trial Balances September 30, 2023 Unadjusted Adjusted Trial Balance Adjustments
Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2023: ARROW HOSPITALITY Trial Balances September 30, 2023 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Dr. Cr. Dr. Cr. Dr. Cr. Cash $ 5,300 Accounts receivable 10,500 Repair supplies 1,850 Prepaid rent 13,300 Office furniture 21,940 Accounts payable $ 7,300 Notes payable 18,800 Eli Arrow, capital 66,848 Eli Arrow, withdrawals 4,300 Hospitality revenues 121,000 Salaries expense 140,500 Wages expense 16,258 Totals $ 213,948 $ 213,948 Additional information available for the month ended September 30, 2023: Interest of $141 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 $1,300 at the end of its four-year life. A count of the Repair Supplies revealed a balance on hand of $630. A review of the Prepaid Rent account showed that $12,000 had been used during September. Accrued wages of $2,450 had not been recorded at month-end. The September Internet bill for $120 had been received and must be paid by October 14. Accrued revenues of $5,500 were not recorded at September 30. Required: 1. Complete the adjusted trial balance by including the adjusting entries. 2-a. Prepare an income statement based on the adjusted trial balance completed in Part 1. 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 $2,900. 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
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