Chapter 3 Version A Hotel Houghton Adjusted Trial Balance Account Account Number

Question

Chapter 3 Version A Hotel Houghton Adjusted Trial Balance Account Account Number Name Adjustments 101 Cash Debit Credit Debit CreditDebit Credit 2,500 1,900 2,400 15,000 70,000 126 Supplies 130 Prepaid Insurance 140 Land 141 Lodge Accumulated 170 Depreciation, Lodge 149 Furniture 16, mulated 171 Depreciation, Furniture 201 Accounts Payable 208 Unearned Rent 210 Salaries Payable 275 Mortgage Payable 301 Mary Lerner,Capital 429 Rent Revenue S10 Advertising Expense 526 Salaries Expense 532 Utilities Expense 534 Supplies Expense 536 Depreciation Expense 538 Insurance Expense $ 5,300 3,600 55,000 9,200 500 ,000 Totals Using the information in the trail balance above, make thefollowing ADJUSTING journal entries Make all adjustments for one month. Put in the adjusted balances and total all the debit and credit 1. Insurance expires at a rate of $400 per month. A. Prepaid Insurance 400, Insurance Expense 400 B. Insurance Expense 400, Prepaid Insurance 400 C. Insurance Expense 200, Prepaid Insurance 200 D. Prepaid Insurance 200, Cash 200 2. A count of supplies shows $850 still on hand. A. Prepaid Supplies 1,000, Supplies 1,000 B. Supplies 900, Cash 900 C. Supplies Expense 1,050, Supplies 1,050 D. Supplies Expense 900, Supplies 900

Explanation / Answer

Journal entry for Give cases

So answer will be B for question 1 and C for question 2.

Adjusted Trial Balance

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Date Title Debit Credit 1 Insurance expenses $     400 Prepaid insurance $     400 2 Supplies expenses ($1,900-$850) $ 1,050 Supplies $ 1,050

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