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theres more parts to the question Blossom's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as
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Blossom's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. BLOSSOM'S HOTEL Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $ 3,600 126 Supplies 2.000 130 Prepaid Insurance 1.800 140 Land 12.000 141 Buildings 61,000 149 Equipment 14.400 200 Notes Payable $ 40,000 201 4,700 Accounts Payable 208 3,300 Unearned Rent Revenue 41,500 301 Owner's Capital 10.100 429 Rent Revenue 550 610 Advertising Expense 726 3,400 Salaries and Wages Expense 850 732 Utilities Expense $ 99,600 $ 99,600 In addition to those accounts listed on the trial balance, the chart of accounts for Blossom'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. Prepaid insurance is a 1-year policy starting May 1, 2022. Acount of supplies shows $ 800 of unused supplies on May 31. Annual depreciation is $3,660 on the buildings and $ 1.440 on equipment The note payable interest rate is 6% (The note was taken out on May 1 and will be repaid along with interest in 1 year.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $ 800 are unpaid and unrecorded at May 31 4. . 5. 6. Journalize the adjusting entries on May 31. (List all debit entries before credit entries Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit 1. May 31 May 2 31 3. May 31 4 May 31 5 May 31 6. May 31 Step by Step Solution
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