my home work is to do 3.2A and 3.3A
May 31 Instructions a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. c. Prepare an adjusted trial balance at May 31, 2020. P3.2A (LO 2, 3, 4) Financial Statement Hank's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. c. Ad Prepa prepa Hank's Hotel Trial Balance May 31, 2020 Credit Debit $ 3,400 2,080 2,400 12,000 60,000 15,000 Account Number 101 126 130 140 141 149 201 208 275 301 429 610 726 732 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 Experise $ 4,700 3,300 40,000 41,380 10,300 600 3,300 900 $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 Accu- mulated 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. Prepaid insurance is a 1-year policy starting May 1, 2020. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the buildings and $1,500 on 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 $750 are accrued and unpaid at May 31, Adjusting the Accounts $101,055 5 -6,175 225 Instructions a. Journalize the adjusting entries on May 31. b. Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (Use Jl as the posting reference.) c. Prepare an adjusted trial balance on May 31. d. Prepare an income statement and an owner's equity statement for the month of May and a balance sheet at May 31. P3.3A (LO 2, 3, 4) Financial Statement Alena Co. was organized on July 1, 2020. Quarterly finan- cial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. es and financial Alena Co. Trial Balance September 30, 2020 Unadjusted Dr. Cr. $ 8,700 10,400 1,500 2,200 18,000 Cash Accounts Receivable Supplies Prepaid Rent Adjusted Dr. Cr. $ 8,700 11,500 650 500 18,000 b. Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post b. Prepare an income statement and an owner's equity statement for the 3 months ending September 30 c. If the note bears interest at 12%, how many months has it been outstanding? ing the Accounts Instructions a. Journalize the adjusting entries on May 31. 55 the adjusting entries. (Use Jl as the posting reference.) c. Prepare an adjusted trial balance on May 31. d. Prepare an income statement and an owner's equity statement for the month of May and a balance sheet at May 31. P3.3A (LO 2, 3, 4) Financial Statement Alena Co. was organized on July 1, 2020. Quarterly finan cial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. incial Alena Co. Trial Balance September 30, 2020 Unadjusted Dr. Cr. Cash $ 8,700 Accounts Receivable 10,400 Supplies 1,500 Prepaid Rent 2.200 Equipment 18,000 Accumulated Depreciation---Equipment $-0- Notes Payable 10.000 Accounts Payable 2,500 Salaries and Wages Payable Interest Payable Unearned feat Revenue 1.900 Owner's C 22,000 1,600 Owner's Drawings 16,000 Service Revenue 1,410 Rent Revenue 8,000 Salaries and Wages Expense 1,900 Rent Expense Depreciation Expense Supplies Expense 1,510 Utilities Expense Interest Expense $53,810 $53,810 Adjusted Dr. Cr. $ 8,700 11,500 650 500 18.000 $ 700 10.000 2,500 725 100 450 22,000 1,600 17,100 2.860 8,725 3,600 700 850 1,510 100 $56,435 $56,435 Instructions a. Journalize the adjusting entries that were made. and a balance sheet at September 30. view of the ledger of Gina Company at December 31, 2020, produces the form
