The skyline motel opened for business on may 1, 2015. its trial balance before adjustment on may 31 is as follows.
skyline motel
trial balance
may 31, 2015
account number debit credit
101 cash $ 3,482
126 supplies 2,146
130 prepaid insurance 2,184
140 land 13,720
141 buildings 59,040
149 equipment 15,240
201 accounts payable $ 11,256
208 unearned rent revenue 3,300
275 mortgage payable 40,000
301 common stock 35,606
429 rent revenue 10,476
610 advertising expense 630
726 salaries and wages expense 3,307
732 utilities expense 889
$100,638 $100,638
in addition to those accounts listed on the trial balance, the chart of accounts for skyline motel 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 may 1, 2015.
2. a count of supplies shows $740 of unused supplies on may 31.
3. annual depreciation is $2,952 on the buildings and $1,524 on equipment.
4. the mortgage interest rate is 12%. (the mortgage was taken out on may 1.)
5. two-thirds of the unearned rent revenue has been earned.
6.
salaries of $770 are accrued and unpaid at may 31.
prepare an adjusted trial balance on may 31.
skyline motel
adjusted trial balance
may 31, 2015
debit
credit
$
$