Hank's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows HANK'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 126 130 Debit $ 3,400 2,080 2,400 12,000 60,000 15,000 140 141 149 201 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 208 275 301 $ 4,700 3,300 40,000 41,380 10,300 429 610 600 726 3,300 900 732 $99,680 $99,680 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. Prepaid insurance is a 1-year policy starting May 1, 2020. A count of supplies shows $750 of unused supplies on May 31 Annual depreciation is $3,600 on the buildings and $1,500 on equipment The mortgage at an annual interest rate is 6%. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue has been earned. Salaries of $750 are accrued and unpaid at May 31. 4 5. 6 No. Date Account Titles and Explanation Debit Credit 1. May 31 Insurance Expense 200 Prepaid Insurance 200 2. May 31 Supplies Expense 1330 Supplies 1330 3. May 31 Depreciation Expense 425 Accumulated Depreciation-Buildings 300 Accumulated Depreciation Equipment 125 4. May 31 Interest Expense 200 Interest Payable 200 5. May 31 Unearned Rent Revenue 2200 Rent Revenue 2200 Date Explanation Ref. Debit Credit Balance Balance May 31 3400 Supplies Date No. 126 Balance Explanation Ref. Debit Credit May 31 Balance 2,080 May 31 Adjusting J1 1330 750 Prepaid Insurance Date Explanation No. 130 Balance Ref. Debit Credit May 31 Balance 2,400 May 31 Adjusting J1 200 2,200 Land No. 140 Balance Date Explanation Ref. Debit Credit May 31 Balance 12,000 Buildings Date No. 141 Balance Explanation Ref. Debit Credit May 31 Balance 60,000 NO. 141 Buildings Date Explanation Ref. Debit Credit Balance May 31 Balance 60,000 No. 142 Accumulated Depreciation Buildings Date Explanation Ref. Debit Credit Balance May 31 Adjusting J1 300 300 Equipment Date No. 149 Balance Explanation Ref. Debit Credit May 31 Balance 15,000 Accumulated Depreciation Equipment Date Explanation Ref. No. 150 Balance Debit Credit May 31 Adjusting J1 125 125) Accounts Payable Date Explanation No. 201 Balance Ref. Debit Credit May 31 Balance 4,700 Unearned Rent Revenue Date Explanation No. 208 Balance Ref. Debit Credit May 31 Balance 3,300 May 31 Adjusting J1 T 2.2001 1,100 Salaries and Wages Payable Date Explanation No. 212 Balance Ref. Debit Credit May 31 Adjusting J1 750 750 Interest Payable Date Explanation No. 230 Balance Ref. Debit Credit May 31 Adjusting J1 200 200 Mortgage Payable Date Explanation No. 275 Balance Ref. Debit Credit May 31 Balance 40,000 Owner's Capital Date Explanation No. 301 Balance Ref. Debit Credit May 31 Balance 41,380 Rent Revenue Date Explanation No. 429 Balance Ref. Debit Credit May 31 Balance 10,300 May 31 Adjusting 31 2,200 12,500 No. 619 Depreciation Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting J1 425 425 Supplies Expense Date Explanation No. 631 Balance Ref. Debit Credit May 31 Adjusting J1 1,330 1,330 Interest Expense Date Explanation No. 718 Balance Ref. Debit Credit May 31 Adjusting J1 200 200 No. 722 Insurance Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting 31 200 200 Salaries and Wages Expense Date Explanation No. 726 Balance Ref. Debit Credit May 31 Balance 3,300 May 31 Adjusting J1 750 4,050 HANK'S HOTEL Adjusted Trial Balance Debit Credit Totals