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Summary

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Description

Name: Kazi Jeba Raisa Risheka ID 2012628030

MAC's MOTEL Adjusting Journal Entries No

Date

Details

Debit

1

May 31

Insurance expenses Prepaid expense Supplies expense Supplies Depreciation expense Building Accumulated depreciation Building Depreciation expense Equipment Accumulated Depreciation Equipment Interest expense Interest payable Unearned rent revenue Rent revenue Salaries and wages Expense Salaries and wages payable

200

2

May 31

3

May 31

4

May 31

5

May 31

6

May 31

Credit

200 1330 1330 250 250 125 125 400 400 2200 2200 750 750

Cash Date

Details

Debit

May 31

Balance

3500

Credit

Balance 3500 Dr.

Supplies Date May 31

Details Balance Supply expenses

debit 2080

Credit 1330

Balance 2080 750 Dr.

Prepaid insurance Date May 31

Details Balance Insurance expense

debit 2400

Credit 200

Balance 2400 2200 Dr.

Land Date May 31

Details Balance

debit 12000

Credit

Balance 12000 Dr.

Credit

Balance 60000 Dr.

Credit

Balance 15000 Dr.

Credit 4800

Balance 4800 Cr.

Credit 3300

Balance 3300 1100 Cr.

Credit 40000

Balance 40000 Cr.

Credit 41380

Balance 41380 cr.

Buildings Date May 31

Details Balance

debit 60000 Equipment

Date May 31

Details Balance

debit 15000 Account Payable

Date May 31

Details Balance

debit

Unearned rent revenue Date May 31

Details Balance Rent revenue

debit 2200 Mortage Payable

Date May 31

Details Balance

debit

Owners capital Date May 31

Details Balance

debit

Rent Revenue Date May 31

Details Balance Unearned rent revenue

debit

Credit 10300 2200

Balance 10300 12500 Cr.

Credit

Balance 600 dr.

Credit

Balance 3300 4050 Dr.

Credit

Balance 900 Dr.

Credit

Balance 200 Dr.

Credit

Balance 1330 Dr.

Credit 750

Balance 750 cr.

Advertising expenses Date May 31

Details Balance

debit 600 Salaries and wages expenses

Date May 31

Details debit Balance 3300 Salaries and wages payable 750 Utility expenses

Date May 31

Details Balance

debit 900

Insurance expense Date May 31

Details Prepaid insurance

debit 200

Supplies expense Date May 31

Details Supplies

debit 1330

Salaries and wages payable Date May 31

Details Salaries and wages expense

debit

Depreciation expense equipment Date May 31

Details Accumulated depreciation equipment

debit 125

Credit

Balance 125 dr.

Accumulated depreciation equipment Date May 31

Details Depreciation expense equipment

debit

Credit 125

Balance 125 cr.

Depreciation expense building Date May 31

Details Accumulated depreciation building

debit 250

Credit

Balance 250 dr.

Accumulated Depreciation building Date May 31

Details Depreciation expense building

debit

Credit 250

Balance 250 cr.

Interest Expense Date May 31

Details Interest payable

debit 400

Credit

Balance 400 dr.

Credit 400

Balance 400cr.

Interest payable Date May 31

Details Interest expense

debit

MAC’S MOTEL Adjusted Trial Balance May 31, 2017101

101 126 130 140 141 142 149 150 201 208 212 230 275 301 429 610 619 621 726 631 718 722 732 Total

Details

Debit

Cash Supplies Prepaid Insurance Land Buildings Accumulated Depreciation- building Equipment Accumulated depreciation - equipment Accounts payable Unearned rent revenue Salaries payable Interest payable Mortage payable Owners capital Rent revenue Advertising expense Depreciation expense- building Depreciation expense - equipment Salaries and Wages Expense Supply expense Interest expense Insurance expense Utility expense

$ 3,500 750 2200 12000 60000

Credit

250 15000 125 4800 1100 750 400 40000 41380 12500 600 250 125 4050 1330 400 200 900 101305

101305

MAC’S MOTEL Income Statement For the month ended May 31, 2017 Amount

Amount

Revenue: $12500

Rent revenue Expenses : Advertising expense Depreciation expense- building Depreciation expense - equipment Salaries and Wages Expense Supply expense Interest expense Insurance expense Utility expense Total expense

600 250 125 4050 1330 400 200 900 (7855) $4645

Net Income

MAC’S MOTEL Owners’ Equity Statement For the month ended May 31, 2017

Details Owners Capital, May 1

Net Income

Owners Capital, May 31

Amount $41380 4645

$46025

MAC’S MOTEL Balance Sheet As at May 31, 2017 Amount

Amount

Assets: Cash

$3500

Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Buildings Accumulated Depreciation

750 2200 12000 15000 (125) $60000 (250) Total Asset

Liabilities and Owners Equity: Accounts payable Unearned Rent Revenue Salaries and wages payable Interest Payable Mortage Payable Total Liabilities Owners’ Equity Owners capital , May 31 Total Liabilities and Owners Equity

14875 59750 $93075

$4800 1100 750 400 40000 47050

46025 $93075...