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    Fa HW 3

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    Phạm Châu Thuý Kiều
    The document is a trial balance and general ledger for Mac's Hotel for May 31, 2017. It shows various revenue and expense accounts for the month such as rent revenue of $10,300, supplies expense of $1,330, and depreciation expense of $375 allocated between building and equipment assets. The balances of asset, liability, and equity accounts such as cash, accounts payable, and owner's capital are also provided as of the end of the month.

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    Fa HW 3

    Uploaded by

    Phạm Châu Thuý Kiều
    16 views4 pages
    The document is a trial balance and general ledger for Mac's Hotel for May 31, 2017. It shows various revenue and expense accounts for the month such as rent revenue of $10,300, supplies expense of $1,330, and depreciation expense of $375 allocated between building and equipment assets. The balances of asset, liability, and equity accounts such as cash, accounts payable, and owner's capital are also provided as of the end of the month.

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    FA HW 3

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    The document is a trial balance and general ledger for Mac's Hotel for May 31, 2017. It shows various revenue and expense accounts for the month such as rent revenue of $10,300, supplies expense of $1,330, and depreciation expense of $375 allocated between building and equipment assets. The balances of asset, liability, and equity accounts such as cash, accounts payable, and owner's capital are also provided as of the end of the month.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    16 views4 pages

    Fa HW 3

    Uploaded by

    Phạm Châu Thuý Kiều
    The document is a trial balance and general ledger for Mac's Hotel for May 31, 2017. It shows various revenue and expense accounts for the month such as rent revenue of $10,300, supplies expense of $1,330, and depreciation expense of $375 allocated between building and equipment assets. The balances of asset, liability, and equity accounts such as cash, accounts payable, and owner's capital are also provided as of the end of the month.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 4

    MAC’S HOTEL

    Trial Balance
    May 31, 2017
    a.

    Date Account titles & Explanations Ref. Debit Credit


    May-31 Insurance Expense $200
    Prepaid Insurance $200
    ( Insurance expired: $2,400/12 =$200
    May-31 Supplies Expense $1,330
    Supplies $1,330
    ( Supplies Used: $2,080-$750 = $1,330
    May-31 Depreciation Expense $375
    Accumulated Depreciation – Buildings $250
    Accumulated Depreciation – Equipment $125
    ( Depreciation – Buildings:
    $3,000/12=$250 and Depreciation –
    Equipment: $1,500/12=$125
    Total = $250+$125=$375

    May-31 Interest Expense $400


    Interest Payable $400
    ( Mortgage Interest:
    $40,000*12%=$400)
    May-31 Unearned Rent Revenue $2,200
    Rent Revenue $2,200
    ( Unearned Rent has been earned:
    $3,300*2/3=$2,200)
    May-31 Salaries and Wages Expense $750
    Salaries and Wages Payable $750

    b.
    General Ledger

    Cash No.101
    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $3,500 $3,500

    Supplies No.126
    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $2,080 $2,080
    May-31 Supplies Expense J1 $1,330 $750

    Prepaid Insurance No.130


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $2,400 $2,400
    May-31 Insurance Expense J1 $200 $2,200

    Land No.140
    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $12,000 $12,000

    Buildings No.141
    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $60,000 $60,000

    Equipment No.149
    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $15,000 $15,000

    Accumulated Depreciation – Buildings No.142


    Date Explanation Ref. Debit Credit Balance
    May-31 Depreciation J1 $250 $250
    Expense

    Accumulated Depreciation – Equipment No.150


    Date Explanation Ref. Debit Credit Balance
    May-31 Depreciation J1 $125 $125
    Expense

    Accounts Payable No.201


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $4,800 $4,800

    Unearned Rent Revenue No.208


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $3,300 $3,300
    May-31 Rent Revenue J1 $2,200 $1,100

    Salaries and Wages Payable No.212


    Date Explanation Ref. Debit Credit Balance
    May-31 Salaries and Wages J1 $750 $750
    Expense
    Interest Payable No.230
    Date Explanation Ref. Debit Credit Balance
    May-31 Interest Expense J1 $400 $400

    Mortgage Payable No.275


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $40,000 $40,000

    Owner’s Capital No.301


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $41,380 $41,380

    Rent Revenue No.429


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $10,300 $10,300
    Unearned Rent J1 $2,200 $12,500
    Revenue

    Advertising Expense No.610


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $600 $600

    Depreciation Expense No.619


    Date Explanation Ref. Debit Credit Balance
    May-31 Accumulate J1 $375 $375
    depreciations

    Supplies Expense No.631


    Date Explanation Ref. Debit Credit Balance
    May-31 Supplies J1 $1,330 $1,330

    Interest Expense No.718


    Date Explanation Ref. Debit Credit Balance
    May-31 Interest Payable J1 $400 $400

    Insurance Expense No.722


    Date Explanation Ref. Debit Credit Balance
    May-31 Prepaid Insurance J1 $200 $200

    Salaries and Wages Expense No.726


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $3,300 $3,300
    May-31 Salaries and Wages J1 $750 $4,050
    Payable

    Utilities Expense No.631


    Date Explanation Ref. Debit Credit Balance
    May-31 Balance  $900 $900

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