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The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.

julsineya [31]

Answer:

1. Insurance expires at the rate of $450 per month.

Dr Insurance expense 450

Cr Prepaid insurance 450

2. A count of supplies shows $1,140 of unused supplies on May 31.

Dr Supplies expense 1,460

Cr Supplies 1,460

3. (a) Annual depreciation is $2,880 on the building.

Dr Depreciation expense 240

Cr Accumulated depreciation, building 240

(b) Annual depreciation is $2,280 on equipment.

Dr Depreciation expense 240

Cr Accumulated depreciation, equipment 190

4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)

Dr Interest expense 168

Cr Interest payable 168

5. Unearned rent of $2,510 has been earned.

Dr unearned revenue 2,510

Cr Rent revenue 2,510

6. Salaries of $880 are accrued and unpaid at May 31.

Dr Wages expense 880

Cr Wages payable 880

6 0

3 years ago

PLEASE HELP!!!

Luden [163]

building society --- is owned by its members and provides banking servic

trust company --- acts as a fiduciary and handles custodial asset arrangements

asset management firm --- invests people's funds in financial assets

stock brokerage firm --- trades securities and makes money from commissions

5 0

3 years ago

Read 2 more answers

Consider a university that purchases replacement chairs for its classrooms. The purchasing manager knows that the annual demand

Ierofanga [76]

Answer:

b. $866

Explanation:

Annual demand from the question = D = $500

the ordering cost = S = $200

then the cost of carrying H = $15

we have to calculate the economic order quantity

= sqr(2*D*S)/H

= sqr(2 x 500 x 200)/25

= sqr(13333.3333)

this equals 115.469

which is approximately 115.5

next we have to calculate inventory ordering cost

= (D * S)/EOQ

= 200 *500/115.5

= 865.5

When approximated becomes $866

8 0

4 years ago

Ivers Co. holds $30,000 of available-for-sale securities. Ivers intends to hold these securities for three years. Ivers should r

bekas [8.4K]

Answer:

long term assets

Explanation:

hope this helps :)

4 0

3 years ago

Identify the corresponding budget(s) from which dollar amounts are transferred directly in constructing each of the following:

padilas [110]

Like 3 weeks ago i married my daughter :)

7 0

4 years ago