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Accounting homework, please help with journal entries!?
OLATHE HOTEL
Trial Balance
May 31, 2010
Cash $ 2,500
Prepaid Insurance 1,800
Supplies 2,600
Land 15,000
Lodge 70,000
Furniture 16,800
Accounts Payable $ 4,700
Unearned Rent Revenue 3,300
Mortgage Payable 36,000
Common Stock 60,000
Rent Revenue 9,000
Salaries Expense 3,000
Utilities Expense 800
Advertising Expense 500
$113,000 $113,000
Other data:
Insurance expires at the rate of $300 per month.
A count of supplies shows $1,050 of unused supplies on May 31.
Annual depreciation is $3,600 on the lodge and $3,000 on furniture.
The mortgage interest rate is 7%. (The mortgage was taken out on May 1.)
Unearned rent of $2,500 has been earned.
Salaries of $750 are accrued and unpaid at May 31.
number two
At the beginning of the current season on April 1, the ledger of Wichita Pro Shop showed Cash $2,500; Merchandise Inventory $3,500; and Common Stock $6,000. The following transactions were completed during April 2010.
Apr. 5 Purchased golf bags, clubs, and balls on account from Roland Co. $1,500, terms 3/10, n/60.
7 Paid freight on Roland purchase $80.
9 Received credit from Roland Co. for merchandise returned $200.
10 Sold merchandise on account to members $910, terms n/30. The merchandise sold had a cost of $620.
12 Purchased golf shoes, sweaters, and other accessories on account from Eagle Sportswear $830, terms 1/10, n/30.
14 Paid Roland Co. in full.
17 Received credit from Eagle Sportswear for merchandise returned $30.
20 Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550.
21 Paid Eagle Sportswear in full.
27 Granted an allowance to members for clothing that did not fit properly $60.
30 Received payments on account from members $1,100.
The chart of accounts for the pro shop includes Cash, Accounts Receivable, Merchandise Inventory, Accounts Payable, Common Stock, Sales, Sales Returns and Allowances, and Cost of Goods Sold.
any bit helps! thanks
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