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    Julien Hotel

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    Please see the attachment and I need excel format.

    © BrainMass Inc. brainmass.com June 3, 2020, 9:47 pm ad1c9bdddf
    https://brainmass.com/business/financial-statements/julien-hotel-199426

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    Please see the attachment

    (a)
    1 May-31 Insurance Expense   300
    Prepaid Insurance   300

    2 Supplies Expense 1,250 The balance of supplies will be
    Supplies 1,250 consumed
      ($2,600 - $1,350)

    3 Depreciation Expense?Lodge   300 one month depreciation
      ($3,600 X 1/12)
    Accumulated Depreciation?
      Lodge   300

    Depreciation Expense?Furniture   250 one month depreciation
      ($3,000 X 1/12)
    Accumulated Depreciation?
      Furniture   250

    4 Interest Expense   270 One month interest
    Interest Payable   270
      [($36,000 X 9%) X 1/12]

    5 Unearned Rent Revenue 1,500
    Rent Revenue 1,500 $1,500 of rent is earned

    6 Salaries Expense   750
    Salaries Payable   750

    (b) The balance in the trial balance are put in T-accounts and the adjusting entries are posted

    Cash Supplies
    5/31 Bal. 2,500 5/31 Bal. 2,600 5/31 1,250
    5/31 Bal. 1,350

    Prepaid Insurance
    5/31 Bal. 1,800 5/31 300 Land
    5/31 Bal. 1,500 5/31 Bal. 15,000

    Lodge Accumulated ...

    Solution Summary

    The solution explains the adjusting entries and prepares the financial statements for Julien Hotel

    $2.19

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