HOSPITALITY ACCOUNTING- Participation EXERCISE- WEEK 7 TEXANA RESTAURANT End of period adjustments: 13. Ending Food inventory $3,200 and Ending Beverage inventory $1,175 14. Prepaid insurance is expensed monthly. Paid 2 years in advance for $3,600 15.2 days of wage and salaries were earned but not paid. We owe wages $400 and salaries -5 480 16. Depreciation (straight line method): equipment $12,000,8 year-life, no residual value, building $150,000 cost, $30,000 residual value, 24 -year life. - Adjust your trial balance