A Prepare a ledger using the threecolumn form of account Ent

A: Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question. Round answers to 0 decimal places, e.g. 5,275.)

The Skyline Motel opened for business on May 1, 2017. Its trial balance before adjustment on May 31 is as follows.

SKYLINE MOTEL
Trial Balance
May 31, 2017

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:

SKYLINE MOTEL Trial Balance May 31, 2017
Account Number				Debit		Credit
101		Cash		$ 3,600
126		Supplies		2,050
130		Prepaid Insurance		3,000
140		Land		12,000
141		Buildings		62,400
149		Equipment		15,400
201		Accounts Payable				$ 11,700
208		Unearned Rent Revenue				3,000
275		Mortgage Payable				40,000
311		Common Stock				36,000
429		Rent Revenue				12,500
610		Advertising Expense		600
726		Salaries and Wages Expense		3,300
732		Utilities Expense		850
				$103,200		$103,200

Solution

Adjusting entries 31-May Insurance expense 250 (3000/12)             Prepaid insurance 250 31-May Supplies expense 1250 (2050-800)             Supplies 1250 31-May Depreciation expense 388           Accumulated depreciation building 260 (3120/12)           Accumulated depreciation equipment 128 (1536/12) 31-May Interest expense 400 (40000*12%*1/12)            Interest payable 400 31-May Unearned rent revenue 2000 (3000*2/3)            Rent revenue 2000 31-May Salaries and wages exense 800            Salaries and wages payable 800