Question
PALM BEACH HOTEL began operations on December 2018. At the end of the first year operations, the trial balance before adjustment shows the following: PALM
PALM BEACH HOTEL began operations on December 2018. At the end of the first year operations, the trial balance before adjustment shows the following: PALM BEACH HOTEL Trial Balance as at 31 December 2018 Debit (RM) Credit (RM) Cash 11,200 Accounts Receivable 14,600 Prepaid Insurance 4,600 Office Supplies 700 Building 525,000 Accumulated Depreciation Building 240,000 Accounts Payable 2,400 Salaries Payable Unearned Revenue 1,600 Jacob, Capital 300,530 Jacob, Withdrawals 1,550 Service Revenue 17,100 Salaries Expense 3,100 Insurance Expense Depreciation Expense - Building Advertising Expense 880 Supplies Expense Total 561,630 561,630 Additional information: i. As of 31/12/2018, Palm Beach Hotel, hereto referred to as the hotel, had RM500 of Prepaid Insurance remaining. ii. At the end of the month, the hotel had RM400 of office supplies remaining.
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