Question
Blossom's Motel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. BLOSSOM'S MOTEL Trial Balance May
Blossom's Motel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows.
BLOSSOM'S MOTEL
Trial Balance
May 31, 2020
Account NumberDebitCredit101Cash$3,600126Supplies2,000130Prepaid Insurance1,800140Land12,000141Buildings61,000149Equipment14,400201Accounts Payable$4,700208Unearned Rent Revenue3,300275Mortgage Payable40,000301Owner's Capital
41,500429Rent Revenue10,100610Advertising Expense
550726Salaries and Wages Expense3,400732Utilities Expense850$99,600$99,600
In addition to those accounts listed on the trial balance, the chart of accounts for Hank's Hotel also contains the following accounts and account numbers: No. 142 Accumulated DepreciationBuildings, No. 150 Accumulated DepreciationEquipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense.
Other data:
1.Prepaid insurance is a 1-year policy starting May 1, 2020.
2.A count of supplies shows $800of unused supplies on May 31.
3.Annual depreciation is $3,660on the buildings and $1,440on equipment.
4.The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)
5.Two-thirds of the unearned rent revenue has been earned.
6.Salaries of $800are accrued and unpaid at May 31.
Journalize the adjusting entries on May 31.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No.
Date
Account Titles and Explanation
Debit
Credit
1.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
2.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
3.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
4.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
5.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
6.May 31
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
eTextbook and Media
List of Accounts
a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries.(Post entries in the order of journal entries posted in the previous part of the question.)
Cash
No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Supplies
No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Prepaid Insurance
No. 130
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Land
No. 140
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Buildings
No. 141
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Accumulated DepreciationBuildings
No. 142
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Equipment
No. 149
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Accumulated DepreciationEquipment
No. 150
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Accounts Payable
No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Unearned Rent Revenue
No. 208
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Salaries and Wages Payable
No. 212
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Interest Payable
No. 230
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Mortgage Payable
No. 275
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Owner's Capital
No. 301
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Rent Revenue
No. 429
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Advertising Expense
No. 610
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
Depreciation Expense
No. 619
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Supplies Expense
No. 631
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Interest Expense
No. 718
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Insurance Expense
No. 722
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Salaries and Wages Expense
No. 726
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
May 31
Adjusting
J1
enter a debit amount
enter a credit amount
enter a balance amount
Utilities Expense
No. 732
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
Balance
enter a debit amount
enter a credit amount
enter a balance amount
eTextbook and Media
List of Accounts
an adjusted trial balance on May 31.
BLOSSOM'S MOTEL
Adjusted Trial Balance
choose the accounting period
For the Year Ended May 31, 2020
For the Month Ended May 31, 2020
May 31, 2020
Debit
Credit
enter an account title
$
enter a debit balance
$
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
enter an account title
enter a debit balance
enter a credit balance
Totals
$
enter a total for the debit column
$
enter a total for the credit column
eTextbook and Media
List of Accounts
income statement for the month of May.
BLOSSOM'S MOTEL
Income Statement
choose the accountin period
May 31, 2020
For the Year Ended May 31, 2020
For the Month Ended May 31, 2020
select an opening name for section one
Dividends
Expenses
Investment
Net Income / (Loss)
Retained Earnings, June 1
Retained Earnings, August 31
Revenues
Total Expenses
Total Revenues
enter an income statement item
$
enter a dollar amount
select an opening name for section two
Dividends
Expenses
Investment
Net Income / (Loss)
Retained Earnings, June 1
Retained Earnings, August 31
Revenues
Total Expenses
Total Revenues
enter an income statement item
$
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
Dividends
Expenses
Investment
Net Income / (Loss)
Retained Earnings, June 1
Retained Earnings, August 31
Revenues
Total Expenses
Total Revenues
enter a total amount for section two
select a closing name for this statement
Dividends
Expenses
Investment
Net Income / (Loss)
Retained Earnings, June 1
Retained Earnings, August 31
Revenues
Total Expenses
Total Revenues
$
enter a total net income or loss amount
eTextbook and Media
List of Accounts
owner's equity statement for the month of May.
BLOSSOM'S MOTEL
Owner's Equity Statement
choose the accounting period
May 31, 2020
For the Month Ended May 31, 2020
For the Year Ended May 31, 2020
select an opening name
Dividends
Expenses
Investment
Net Income / (Loss)
Owner's Capital, May 1
Owner's Capital, May 31
Revenues
Total Expenses
Total Revenues
$
enter a dollar amount
select between addition and deduction
Add
Less
:
select an item
Dividends
Expenses
Investment
Net Income / (Loss)
Owner's Capital, May 1
Owner's Capital, May 31
Revenues
Total Expenses
Total Revenues
enter a dollar amount
select an item
Dividends
Expenses
Investment
Net Income / (Loss)
Owner's Capital, May 1
Owner's Capital, May 31
Revenues
Total Expenses
Total Revenues
enter a dollar amount
select a closing name
Dividends
Expenses
Investment
Net Income / (Loss)
Owner's Capital, May 1
Owner's Capital, May 31
Revenues
Total Expenses
Total Revenues
$
enter a total amount
eTextbook and Media
Assistance Used
List of Accounts
Assistance Used
balance sheet at May 31.(List Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)
BLOSSOM'S MOTEL
Balance Sheet
choose the accounting period
For the Year Ended May 31, 2020
May 31, 2020
For the Month Ended May 31, 2020
Assets
enter a balance sheet item
$
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
$
enter a dollar amount
select between addition and deduction
Add
Less
:
enter a balance sheet item
enter a dollar amount
enter a subtotal of the two previous amount
enter a balance sheet item
enter a dollar amount
select between addition and deduction
Add
Less
:
enter a balance sheet item
enter a dollar amount
enter a subtotal of the two previous amount
select a closing section name for this part of the balance sheet
Current Assets
Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Revenues
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Owner's Equity
$
enter a total amount for this part of the balance sheet
Liabilities and Owner's Equity
select an opening name for section one
Current Assets
Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Revenues
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Owner's Equity
enter a balance sheet item
$
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
select a closing name for section one
Current Assets
Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Revenues
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Owner's Equity
enter a total amount for this section of the balance sheet
select an opening name for section two
Current Assets
Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Revenues
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Owner's Equity
enter a balance sheet item
enter a dollar amount
select a closing name for this part of the balance sheet
Current Assets
Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Revenues
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Owner's Equity
$
enter a total amount for this part of the balance sheet
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