one more trial balance question
never mind I solved it, while asking the question, sorry
The Julien Hotel opened for business on May 1, 2007. Here is its trial balance before adjustment on May 31.
JULIEN HOTEL
Trial Balance
May 31, 2007
DEBITS
Cash $ 2,500
Prepaid Insurance 1,800
Supplies 2,600
Land 15,000
Lodge 70,000
Furniture 16,800
Salaries Expense 3,000
Utilities Expense 800
Advertising Expense 500
CREDITS
Accounts Payable $ 4,700
Unearned Rent Revenue 3,300
Mortgage Payable 36,000
Common Stock 60,000
Rent Revenue 9,000
$113,000 $113,000
Other data:
1.
Insurance expires at the rate of $300 per month.
Debit 300 insurance expense Credit 300 prepid insurance
2.
An inventory of supplies shows $1,350 of unused supplies on May 31.
debit 1250 Supplies expense credit 1250 supplies
3.
Annual depreciation is $3,600 on the lodge and $3,000 on furniture.
debit depreciation expense 550 credit accumulated dep 550
4.
The mortgage interest rate is 9%. (The mortgage was taken out on May
debit 270 interest exp credit 270 interest??
5.
Unearned rent of $1,500 has been earned.
unearned rent rev debit 1500 credit 1500 rent rev
6.
Salaries of $750 are accrued and unpaid at May 31
debit salaries expense 750 credit salaries payable 750
trial balance
debits
cash 2500
prepaid ins 1500
supplies 1350
land 15000
lodge 70000
furniture 16,800
salaries expense 3750
util exp 800
adv exp 500
interest exp 270
dep exp 550
supplies exp 1250
insurance exp 300
=114,570 which is correct
credits
A/P 4700
unearned rent rev 1800
mortgage payable 36000
common stock 60000
rent rev 10500
salaries payable 750
accumulated dep lodge/furn 550
interest payable 270
=114,570
I don't know what I did wrong please help, I tried comparing it with the other problem, but I got stuck
