Adjusting journal entries

Date accounts title ref Debit Credit

May-31 Supplies expense 900
Supplies 900

May-31 Utility expense 250

Utility payable 250

May-31 Insuarance expense 150

Prepaid insurance 150

May-31 Unearned Service revenue 1600

Service Revenue 1600
May-31 Salaries and wages expense 1104
Salaries and wages payable 1104

May-31 Depreciation 190

Accumulated depreciation 190

May-31 Accounting Receivable 1700

Service revenue 1700
 Cash Account
Date Explanation ref Debit Credit Balance Date Explanation

Date Explanation ref Debit Credit Balance

Date Explanation

Date Explanation ref Debit Credit Balance

Date Explanation
ref Debit Credit Balance

ref Debit Credit Balance

ref Debit Credit Balance

Date Explanation ref Debit Credit Balance

Date Explanation

Date Explanation ref Debit Credit Balance

Date Explanation
Date Explanation ref Debit Credit Balance

Date Explanation ref Debit Credit Balance Date Explanation

Date Explanation ref Debit Credit Balance

ref Debit Credit Balance

ref Debit Credit Balance

ref Debit Credit Balance

 Cash Account Mortgage payable
Date Explanation ref Debit Credit Balance Date Explanation ref
May-31 Balance 3400 May-31 Balance

Supplies
Date Explanation ref Debit Credit Balance Owner's Capital
balance 2080 Date Explanation ref
May-31 Supplies expense 1330 750 Balance

Prepaid insurance
Date Explanation ref Debit Credit Balance
Balance 2400 Rent revenue
 a Adjusting entries
Date Accounts title and explantion Ref Debit Credit
May-31 Insurance expense 200
Prepaid insurance 200

,, Supplies expense 1330

Supplies 1330

,, Depreciation expense 425

Accumulated dep-buil 300
Accumulated dep- equip 125

,, Interest expense 200

Interest payable 200
payable
Debit Credit Balance ,, Unearned rent revenue 2200
40,000 Rent revenue 2200

,, Salaries and wages expense 750

Salaries and wages payable 750
Capital
Debit Credit Balance
41,380

Hank's Hotel
Adjusted Trial Balance
venue May 31, 2020
 Hank's Hotel
Income Statement
For the month ended May 31, 2020
 May-31 Insurance expense 200 2200 Date Explanation ref
Balance
Land May-31 Unreaned rent revenue
Date Explanation ref Debit Credit Balance
Balance 12000
Advertising expense
Date Explanation ref
Building Balance
Date Explanation ref Debit Credit Balance
Balance 60,000

Salaries wages expense

Equipment Date Explanation ref
Date Explanation ref Debit Credit Balance Balance
Balance 15,000 May-31 Salaries and wages payable

Account payable Utility expense

Date Explanation ref Debit Credit Balance Date Explanation ref
Balance 4700 Balance

Unearned rent revenue

Date Explanation ref Debit Credit Balance Insurance expense
Balance 3300 Date Explanation ref
May-31 Rent revenue 2200 1100 May-31 Prepaid insurance
 Debit Credit Balance Accounts title Debit Credit
10,300 Cash 3400
2200 12500 Supplies 750
Prepaid Insurance 2200
Land 12000
expense Building 60000
Debit Credit Balance Equipment 15000
600 Accounts payable 4700
Unearned rent revenue 1100
Mortgae payable 40000
Owner's Capital 41380
es expense Rent Revenue 12500
Debit Credit Balance Advertiging expense 600
3300 Salaries and wages expense 4050
750 4050 Insurance expense 200
Supplies expense 1330
Depreciation expesne 425
xpense Accumulated dep- Buil 300
Debit Credit Balance Accumulated Dep- Equip 125
900 Inteset expense 200
Interest payable 200
Utility expense 900
Salaries and Wages Payable 750
expense Total 101055 101055
Debit Credit Balance
200 200
Particulars Amount Amount
Revenues:
Rent revenue 12,500
Less: Expenses:
Advertiging expense 600
Salaries and wages expense 4050
Insurance expense 200
Supplies expense 1330
Depreciation expesne 425
Inteset expense 200
Utility expense 900
Total expenses 7705
Net income 4,795

Hank's Hotel
Owner's Equity Statement
For the month ended May 31, 2020
Particulars Amount Amount
Owner's Capital at May 1 41380
Add: Net income 4795
Owner's Capital at May 31 46175

Hank's Hotel
Balance sheet
On May 31, 2020
Particulars Amount Amount
Assets
 Supplies expense
Date Explanation ref Debit Credit Balance Accumulated dep- Buil
May-31 Supplies 1330 1330 Date Explanation ref
May-31 Depeciation expense

Depreciation expense
Date Explanation ref Debit Credit Balance Accumulated dep-Equip
May-31 Accumulated dep- buil 300 300 Date Explanation ref
,, Accumulated dep- Equip 125 425 May-31 Depreciation expense

Interest expense Salaries and Wages Payable

Date Explanation ref Debit Credit Balance Date Explanation ref
May-31 Interest payable 200 200 May-31 Salaries and wages expense

Interest payable
Date Explanation ref Debit Credit Balance
May-31 Interest expense 200 200
d dep- Buil
Debit Credit Balance
300 300

dep-Equip
Debit Credit Balance
125 125

ages Payable
Debit Credit Balance
750 750
Cash 3400
Supplies 750
Prepaid Insurance 2200
Land 12000
Building 60,000
Less: Accumulated dep- Building 300 59,700
Equipment 15000
Less: Accumulated Dep-Equip 125 14875
Total Assets 92925
Liabilies and Owner's Equity
Liabilities:
Accounts payable 4700
Unearned rent revenue 1100
Mortgae payable 40000
Interest payable 200
Salaries and wages payable 750
Total Liability 46750
Owner's Equity:
Owner's Capital at May 31, 2020 46175
Total Liability and Owner's Equity 92925
Insurance expense 200
Prepaid insurance 200

Supplies expense 1330

Supplies 1330

Depreciation expense- building 300

Accumulated depreciation- buil 300
Depreciation expense- equipment 125
Accumulated depreciation- equip 125

Interest expense 200

Interest payable 200

Unearned Rent revenue 2200

Rent revenue 2200

Salaries expense 750

salaries payable 750
1. Accrued Revenue Dr. Cr
Interest receivable 1000
Interest revenue 1000

2. Accrued Expense
Interest expense 1000
Interest payable 1000

3. Prepaid expense (Expenses paid in advanced)

Insuarane expense 100
Prepaid Insurance 100

Prepaid Insurance 1100

Insurance expense 1100
4. Unearned Revenue(advanced revenue)
Unearned Service Revenue 5000
Service Revenue 5000

Service Revenue 7000

Unearned service revenue 7000
5. Depreciation
Depreciation expense 1000
Accumulated Depreciation 1000
 Dec-31
Service perfomed but unrecorded 1200.
120,000 at 10% annually on December 1, 2020.
(120,000*10%=12000/12= 1000

Utility expense incurred 150 for the month

Loan 120,000 @10%, on December 1, 1000

Trial balance ( prepaid expense)

(Amount of expense)

Trial balance (expense)

(Amount of prepaid expense)

(Trial Balance : Unearned revenue)

( The amount of unearned revenue that have earned)

(Trail Balance: Revenue)

( Amount of revenue that remain unearned)

120,000 life 10 years

Givens Graphics Company was organized on January 1, 2010, by Sue Givens.
At the end of the first 6 months of operations, the trial balance
contained the following accounts