You have the following trial balance information for a hotel for the year ended 31.12.2007:

The following year end adjustments need to be made: 1. Building depreciation is 5% of the difference between building cost and accumulated depreciation. 2. Depreciation on furniture and equipment is 20% of the difference between furniture and equipment cost and accumulated depreciation. 3. Interest owing but not yet paid on the bank loan is 100 and on the mortgage * 1700. 4. Wages earned but not yet paid 300 in rooms department and 100 in the food department. 5. Food inventory on 31.12.2007 is 5100.

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Account Debit (*) Credit (*) 6800 Cash Accounts Receivable Food Inventory (01.01.2007) 1500 4700 Prepaid property taxes 1700 Prepaid insurance 800 Land 37,200 Buildings 2,25,600 Accumulated Depreciation on building 95,600 Furniture and Equipment 72,200 Accumulated Depreciation on furniture 41,200 Accounts payable 2400 Accrued Expenses 1300 Bank loan payable 8300 Mortgage payable 1,60,600 Capital 20,000