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UHURA RESORT
ADJUSTED TRIAL BALANCE
AUGUST 31, 2015
Debit Credit
Cash ¥ 19.600
Accounts Receivable 800
Prepaid Insurance 3.375
Supplies 650
Land 20.000
Buildings 120.000
Equipment 16.000
Accumulated Depreciation- Buildings ¥ 1.080
Accumulated Depreciation- Equipment 360
Accounts Payable 4.500
Salaries and Wages Payable 375
Interest Payable 1.000
Unearned Rent Revenue 800
Mortgage Payable 50.000
Share Capital- Ordinary 100.000
Retained Earnings 0
Dividends 5.000
Rent Revenue 90.800
Salaries and Wages Expense 45.175
Utilities Expense 9.200
Maintenance and Repairs Expense 3.600
Interest Expense 1.000
Insurance Expense 1.125
Supplies Expense 1.950
Depreciation Expense- Buildings 1.080
Depreciation Expense- Equipment 360
248.915 248.915
E 7- 9
a. 4% of gross accounts receivable
Bad Debt Expense…………………………… 4.950
Allowance for Doubtful Accounts….. 4.950
(($80.000 x 4%) + $1.750)
b. 1% of net sale
Bad Debt Expense……………………………. 5.800
Allowance for Doubtful Accounts…... 5.800
($580.000 x 1%)
E 9- 8
E 11- 27
a. January 1, 2014 Equipment……………………. 12.000
Cash.............................. 12.000
c. The amount of depreciation expense that Falcetto will record on the equipment in 2016
€12.000−5.000
= € 1.750
4