Problem 3-02A a-d (Part Level Submission)

Problem 3-02A a-d (Part Level Submission) Pharoah's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. PHAROAH'S HOTEL Trial Balance May 31, 2020 Credit Account Number 101 126 130 Debit $ 3,400 2,050 2,400 12,000 60,800 14,400 141 149 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 $ 4,900 3,300 40,000 41,400 10,300 301 610 726 600 3,400 850 $99,900 732 $99,900 In addition to those accounts listed on the trial balance, the chart of accounts for Pharoah'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. 5. 6. Prepaid insurance is a 1-year policy starting May 1, 2020. A count of supplies shows $800 of unused supplies on May 31. Annual depreciation is $3,648 on the buildings and $1,440 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 $700 are accrued and unpaid at May 31. (a) Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1. May 31 Insurance Expense 2,400 Prepaid Insurance 2,400 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31