Home / Questions / have to show work for problems but also help me being able tojournalize, ledger, income st...
have to show work for problems but also help me being able tojournalize, ledger, income statement and owners equity statment forthe bottom problem...
Hand OUt wholesalers has sold inventory to Jone's hardware underthe agreement of FOB shipping point. Cost of shipping $200 whichwas delievered on Nov 12. Make journal entries for Jone's hardwareto show frieght costs...
Melton River resort opened for business on June 1 with eight airconditioned units. its trial balance before adjustment on August 31was
account number
101 cash debited 19,600
126 supplies debited 3,300
130 prepaid insurance debited 6,000
140 land debited 25,000
143 buildings debited 125,000
149 equipemt debited 26,000
201 Accounts payable credited 6,500
208 unearned rent revenue credited 7,400
275 mortgage payable credited 80,000
301 Owners Capital debited 100,000
306 Owners Drawings debited 5,000
429 Rent Revenue 80,000 credited
622 Maintenance and Repairs expense debited 3,600
726 Salaries and Wages Expense debited 51,000
732 Utilities Expense debited 9,400
In addition to those accounts listed on the trial balance, therchart of accounts for Melton River Resort alos contain thefollowing accounts and account numbers: Number 112 for Accountsreceivable, NO 144 accumulated Depreciation- buildings, NO 150Accumulated Depreciation -Equipment, NO 212 Salaries and WagesPAyable, NO 230 interest payble, NO 620 Depreciation Expenses, NO631 Supplies Expense, NO 718 Interest expense, and NO 722 InsuranceExpense
Insurance expires at the rate of $300 a month
A Physical count on August 31 shows $800 of supplies on hand
Annual depreciation is $6,000 on buidlings and $2,400 onequipment
Unearned rent revenue of 4,8000 was earned proir to August31
Salaries of $ 400 were un paid at August 31
Rentals of $4000 were due from tenants at August 31 ( Useaccounts receivable)
The mortagage interest rate is 9% per year (The mortagage wastaken out on August)
Journalize the adjusting entried on August 31 for the 3 monthperiod June 1 August 31
Prepare a ledger using the three column for of account. Enterthe trial balace moments and post the adjusting books
Prepare an adjusted trial balance on August 31
Prepare an income statment and an owner's equity statments forthe 3 months ending in the August 31..
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