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 Number Credit 101 126 130 140 Debit $3,400 2,000 1,800 12.000 58.800 14.400 141 149 201 208 275 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $4,700 3,000 40,000 41.000 8.300 301 429 610 726 732 550 3,200 850 $97.000 $97.000 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 Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, 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: mber -71 Credit 101 126 130 140 141 149 201 208 275 301 429 610 Debit $3,400 2.000 1,800 12,000 58,800 14.400 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4.700 3,000 40,000 41,000 8,300 550 726 732 3.200 850 $97.000 $97.000 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 Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, 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. 2 3. 4 Prepaid insurance is a 1-year policy starting May 1, 2020. A count of supplies shows $700 of unused supplies on May 31, Annual depreciation is $3.528 on the buildings and $1.440 on equipment The mortgage interest rate is 696. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue has been earned. Salaries of $700 are accrued and unpaid at May 31. 5 6. ally Indented when the amount is entered. Do not No. Date Account Titles and Explanation May Debit 1. Credit 31 2. May 31 3. May 31 May 4. 31 5. May 31 6. May 31 -/1 = Cash Date Explanation Balance Ref. Debit May 31 Credit No. 101 Balance V Supplies Date Explanation Ref. Debit Credit No. 126 Balance May 31 Balance 01 May 31 Adjusting Prepaid Insurance Date Explanation Ref. Debit No. 130 Balance Credit May 31 Balance V J1 No. 140 Balance Date Ref. Debit Credit No. 141 Balance Ref. Debit Credit No. 142 May 31 Adjusting Land Explanation May 31 Balance Buildings Date Explanation May 31 Balance Accumulated Depreciation- Buildings Date Explanation Adjusting Equipment Date Explanation May 31 Balance Accumulated Depreciation Gouinment Credit Balance Debit Ref. 31 May 31 No. 149 Balance Credit Debit Ref. V No. 150 -71 Ref. Debit Credit 31 Balance Cu Date Explanation May 31 Adjusting Accounts Payable Date Explanation May 31 Balance Uneamed Rent Revenue Date Explanation Balance Ref. Debit Credit No. 201 Balance V Ref. Debit No. 208 Balance May 31 Credit 01 Ref. Debit Credit No. 212 Balance May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Interest Payable Date Explanation Adjusting 11 No. 230 Balance Ref. Debit Debit Credit May 31 J1 No. 275 Balance Ref. Debit Credit Mortgage Payable Date Explanation May 31 Balance Owner's Capital Date Explanation May 31 Balance Rent Revenue Date Explanation No. 301 Balance Debit Credit Ref. No. 429 Balance Credit Ref. Debit Balance May 31 11 May 31 Adjusting /1 Ref. Debit Credit No. 610 Balance Ref. Debit Credit No. 619 Balance Advertising Expense Date Explanation May 31 Balance Depreciation Expense Date Explanation May 31 Adjusting Supplies Expense Date Explanation May 31 Adjusting Interest Expense Date Explanation Adjusting 11 Ref. Debit No. 631 Balance Credit 01 Ref. Debit Credit No. 718 Balance 01 No. 722 Balance Ref. Debit Credit 31 May 31 Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation May 31 Balance No. 726 Debit Credit Balance Ref. 01 No. 732 Balance Credit Debit May 31 Adjusting Utilities Expense Date Explanation May 31 Balance Ref. Balance on May 31. BLOSSOM'S MOTEL Adjusted Trial Balance Debit Credit $ - / Totals Prepare an income statement for the month of May. BLOSSOM'S MOTEL Income Statement $ $ $ I Question 10 of 10 -11 > Liabilities and Owner's Equity e Textbook and Media 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 Number Credit 101 126 130 140 Debit $3,400 2,000 1,800 12.000 58.800 14.400 141 149 201 208 275 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $4,700 3,000 40,000 41.000 8.300 301 429 610 726 732 550 3,200 850 $97.000 $97.000 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 Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, 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: mber -71 Credit 101 126 130 140 141 149 201 208 275 301 429 610 Debit $3,400 2.000 1,800 12,000 58,800 14.400 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4.700 3,000 40,000 41,000 8,300 550 726 732 3.200 850 $97.000 $97.000 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 Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, 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. 2 3. 4 Prepaid insurance is a 1-year policy starting May 1, 2020. A count of supplies shows $700 of unused supplies on May 31, Annual depreciation is $3.528 on the buildings and $1.440 on equipment The mortgage interest rate is 696. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue has been earned. Salaries of $700 are accrued and unpaid at May 31. 5 6. ally Indented when the amount is entered. Do not No. Date Account Titles and Explanation May Debit 1. Credit 31 2. May 31 3. May 31 May 4. 31 5. May 31 6. May 31 -/1 = Cash Date Explanation Balance Ref. Debit May 31 Credit No. 101 Balance V Supplies Date Explanation Ref. Debit Credit No. 126 Balance May 31 Balance 01 May 31 Adjusting Prepaid Insurance Date Explanation Ref. Debit No. 130 Balance Credit May 31 Balance V J1 No. 140 Balance Date Ref. Debit Credit No. 141 Balance Ref. Debit Credit No. 142 May 31 Adjusting Land Explanation May 31 Balance Buildings Date Explanation May 31 Balance Accumulated Depreciation- Buildings Date Explanation Adjusting Equipment Date Explanation May 31 Balance Accumulated Depreciation Gouinment Credit Balance Debit Ref. 31 May 31 No. 149 Balance Credit Debit Ref. V No. 150 -71 Ref. Debit Credit 31 Balance Cu Date Explanation May 31 Adjusting Accounts Payable Date Explanation May 31 Balance Uneamed Rent Revenue Date Explanation Balance Ref. Debit Credit No. 201 Balance V Ref. Debit No. 208 Balance May 31 Credit 01 Ref. Debit Credit No. 212 Balance May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Interest Payable Date Explanation Adjusting 11 No. 230 Balance Ref. Debit Debit Credit May 31 J1 No. 275 Balance Ref. Debit Credit Mortgage Payable Date Explanation May 31 Balance Owner's Capital Date Explanation May 31 Balance Rent Revenue Date Explanation No. 301 Balance Debit Credit Ref. No. 429 Balance Credit Ref. Debit Balance May 31 11 May 31 Adjusting /1 Ref. Debit Credit No. 610 Balance Ref. Debit Credit No. 619 Balance Advertising Expense Date Explanation May 31 Balance Depreciation Expense Date Explanation May 31 Adjusting Supplies Expense Date Explanation May 31 Adjusting Interest Expense Date Explanation Adjusting 11 Ref. Debit No. 631 Balance Credit 01 Ref. Debit Credit No. 718 Balance 01 No. 722 Balance Ref. Debit Credit 31 May 31 Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation May 31 Balance No. 726 Debit Credit Balance Ref. 01 No. 732 Balance Credit Debit May 31 Adjusting Utilities Expense Date Explanation May 31 Balance Ref. Balance on May 31. BLOSSOM'S MOTEL Adjusted Trial Balance Debit Credit $ - / Totals Prepare an income statement for the month of May. BLOSSOM'S MOTEL Income Statement $ $ $ I Question 10 of 10 -11 > Liabilities and Owner's Equity e Textbook and Media