Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi can you check the wrong answers on last two pictures ? Problem 3-2B (Part Level Submission) Badger Motel, Ltd. opened for business on June

image text in transcribedHi can you check the wrong answers on last two pictures ?
image text in transcribed
image text in transcribed
image text in transcribed
Problem 3-2B (Part Level Submission) Badger Motel, Ltd. opened for business on June 1, 2017. Its trial balance before adjustment on May 31 is as follow:s BADGER MOTEL, LTD Trial Balance May 31, 2017 Debit Credit Account Number 101 126 130 140 143 157 201 208 275 311 429 622 726 732 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Share Capital-Ordinary Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 19,246 3,333 4,680 23,561 126,590 29,985 6,427 7,308 38,000 100,988 118,869 3,778 50,980 9,439 271,592 271,592 In addition to those accounts listed on the trial balance, the chart of accounts for Badger Motel, Ltd. also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 158 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 631 Supplies Expense, No 711 Depreciation Expense, No. 718 Interest Expense, and No. 722 Insurance Expense Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2014 2 A count of supplies shows 805 of unused supplies on May 31 3. Annual depreciation is 16,908 on the buildings and 7,920 on equipment. 4" The mortgage interest rate is 12% per year. (The mortgage was taken out on May 1.) 5 Two-thirds of the unearned rent revenue should be recognized as rent revenue prior to May 31 6. Salaries of E335 were unpaid at August 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau

8th International Edition

1260570517, 978-1260570519

More Books

Students also viewed these Accounting questions

Question

In the format sequence % d what does the letter d represent

Answered: 1 week ago