Reference no: EM132654248
NGULU TA- UTOYA HOTELTRIAL BALANCENovember 30th, 2018Account Number
|
|
Debit |
Credit |
| 101 |
Cash |
3,500 |
|
| 126 |
Suppliers |
2,080 |
|
| 130 |
Prepaid Insurance |
2,400 |
|
| 140 |
Land |
12,000 |
|
| 141 |
Buildings |
60,000 |
|
| 149 |
Equipment |
15,000 |
|
| 201 |
Accounts Payable |
|
4,800 |
| 208 |
Unearned Rent Revenue |
|
3,300 |
| 275 |
Mortgage Payable |
|
40,000 |
| 301 |
Owner's Capital |
|
41,380 |
| 429 |
Rent Revenue |
|
10,300 |
| 610 |
Advertising Expense |
600 |
|
| 726 |
Salaries and Wages Payable |
3,300 |
|
| 732 |
Utilities Expense |
900 |
|
|
|
99,780 |
99,780 |
In addition to those accounts listed on the trial balance, the chart of accounts for Ngulu Ta- Utoya Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense.
Other data:
1. Prepaid insurance is a 1-year policy starting November 1, 2014.
2. A count of supplies shows K750 of unused supplies on November 30.
3. Annual depreciation is K3,000 on the buildings and K1,500 on equipment.
4. The mortgage interest rate is 12%. (The mortgage was taken out on November 1.)
5. Two-thirds of the unearned rent revenue has been earned.
6. Salaries of K750 are accrued and unpaid at November 31.
Instructions
Question (a) Journalize the adjusting entries on November 30.
Question (b) Prepare ledgers using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (Use J1 as the posting reference.)
Question (c) Make an adjusted trial balance on November 30.
Question (d) Make an income statement and an owner's equity statement for the month of November and a balance sheet at November 30.