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Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2020: ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Trial Balance Adjusted Trial Balance Adjustments Account Dr. Cr. Dr. Cr. Dr. Cr. 6,000 11,200 2,200 14,00e 26,e00 Cash Accounts receivable Repair supplies Prepaid rent Office furniture Accounts payable Notes payable Eli Arrow, capital Eli Arrow, withdrawals Hospitality revenues Salaries expense Wages expense 8,eee 21,600 67, 758 5,000 128,000 144,e00 16,958 Totals $ 225,358 $ 225, 358 Additional information available for the month ended September 30, 2020: a. Interest of $162 had accrued on the notes payable for the month of September. b. The office furniture was acquired on September 1, 2020. and has an estimated four-year life. The furniture will be sold for about $2.000 at the end of its four-year life. c. A count of the Repair Supplies revealed a balance on hand of $700. d. A review of the Prepaid Rent account showed that $10,000 had been used during September. e. Accrued wages of $2.800 had not been recorded at month-end. 1. The September Internet bill for $100 had been received and must be paid by October 14. 9. Accrued revenues of $6.200 were not recorded at September 30. Required: 1. Complete the adjusted trial balance by including the adjusting entries.

Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2020: ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Trial Balance Adjusted Trial Balance Adjustments Account Dr. Cr. Dr. Cr. Dr. Cr. 6,000 11,200 2,200 14,00e 26,e00 Cash Accounts receivable Repair supplies Prepaid rent Office furniture Accounts payable Notes payable Eli Arrow, capital Eli Arrow, withdrawals Hospitality revenues Salaries expense Wages expense 8,eee 21,600 67, 758 5,000 128,000 144,e00 16,958 Totals $ 225,358 $ 225, 358 Additional information available for the month ended September 30, 2020: a. Interest of $162 had accrued on the notes payable for the month of September. b. The office furniture was acquired on September 1, 2020. and has an estimated four-year life. The furniture will be sold for about $2.000 at the end of its four-year life. c. A count of the Repair Supplies revealed a balance on hand of $700. d. A review of the Prepaid Rent account showed that $10,000 had been used during September. e. Accrued wages of $2.800 had not been recorded at month-end. 1. The September Internet bill for $100 had been received and must be paid by October 14. 9. Accrued revenues of $6.200 were not recorded at September 30. Required: 1. Complete the adjusted trial balance by including the adjusting entries.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
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Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2020: ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Dr. Cr. Dr. Cr. Dr. Cr. 6,000 11,200 2,200 14,800 26,000 Cash Accounts receivable Repair supplies Prepaid rent Office furniture 8,000 21,600 67,758 Accounts payable Notes payable Eli Arrow, capital Eli Arrow, withdrawals Hospitality revenues Salaries expense 5,000 128,000 144,000 16,958 $ 225,358 Wages expense Totals $ 225, 358 Additional information available for the month ended September 30, 2020: a. Interest of $162 had accrued on the notes payable for the month of September. b. The office furniture was acquired on September 1, 2020, and has an estimated four-year life. The furniture will be sold for about $2,000 at the end of its four-year life. c. A count of the Repair Supplies revealed a balance on hand of $700. d. A review of the Prepaid Rent account showed that $10,000 had been used during September. e. Accrued wages of $2,800 had not been recorded at month-end. 1. The September Internet bill for $100 had been received and must be paid by October 14. g. Accrued revenues of $6,200 were not recorded at September 30. Required: 1. Complete the adjusted trial balance by including the adjusting entries. ARROW HOSPITALITY
Transcribed Image Text:Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2020: ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Dr. Cr. Dr. Cr. Dr. Cr. 6,000 11,200 2,200 14,800 26,000 Cash Accounts receivable Repair supplies Prepaid rent Office furniture 8,000 21,600 67,758 Accounts payable Notes payable Eli Arrow, capital Eli Arrow, withdrawals Hospitality revenues Salaries expense 5,000 128,000 144,000 16,958 $ 225,358 Wages expense Totals $ 225, 358 Additional information available for the month ended September 30, 2020: a. Interest of $162 had accrued on the notes payable for the month of September. b. The office furniture was acquired on September 1, 2020, and has an estimated four-year life. The furniture will be sold for about $2,000 at the end of its four-year life. c. A count of the Repair Supplies revealed a balance on hand of $700. d. A review of the Prepaid Rent account showed that $10,000 had been used during September. e. Accrued wages of $2,800 had not been recorded at month-end. 1. The September Internet bill for $100 had been received and must be paid by October 14. g. Accrued revenues of $6,200 were not recorded at September 30. Required: 1. Complete the adjusted trial balance by including the adjusting entries. ARROW HOSPITALITY
ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Debit Credit Debit Credit Debit Credit Cash 6.000 Accounts receivable 11,200 Repair supplies 2,200 Prepaid rent 14.000 Office furniture 26.000 Accounts payable 8,000 Notes payable 21,600 Eli Arrow, capital 67,758 Eli Arrow, withdrawals 5,000 Hospitality revenues 128,000 Salaries expense 144,000 Wages expense 18,958 Totals $ 225,358 S 225,358 Interest expense Interest payable Depreciation expense, office furniture Accumulated depreciation, office furniture Repair supplies expense Rent expense Wages payable Internet expense Totals
Transcribed Image Text:ARROW HOSPITALITY Trial Balances September 30, 2020 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Debit Credit Debit Credit Debit Credit Cash 6.000 Accounts receivable 11,200 Repair supplies 2,200 Prepaid rent 14.000 Office furniture 26.000 Accounts payable 8,000 Notes payable 21,600 Eli Arrow, capital 67,758 Eli Arrow, withdrawals 5,000 Hospitality revenues 128,000 Salaries expense 144,000 Wages expense 18,958 Totals $ 225,358 S 225,358 Interest expense Interest payable Depreciation expense, office furniture Accumulated depreciation, office furniture Repair supplies expense Rent expense Wages payable Internet expense Totals
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