Hank's Hotel

Trial Balance
May, 31 2020
No Ref. Accounts Title Debit Credit
101 Cash $3,400
126 Supplies $2,080
130 Prepaid Insurance $2,400
140 Land $12,000
141 Buildings $60,000
149 Equipment $15,000
201 Account Payable $4,700
208 Unearned Rent Revenue $3,300
275 Mortgage Payable $40,000
301 Owner's Capital $41,380
429 Rent Revenue $10,300
610 Advertising Expense $600
726 Salaries and wages Expense $3,300
732 Utilities Expense $900

Totals $99,680 $99,680

Other Data :
1. Prepaid Insurance is a 1-year policy starting May 1, 2020
2. A count of supplies shown $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 accured and unpaid at May 31.
 Hank's Hotel
GENERAL JOURNAL
Date Account Titles and Explanation Ref
Adjustment Entries
2020 31 Insurance Expense 722
May Prepaid Insurance 130
(To record insurance expired)

31 Supplies Expense 631

Supplies 126
(To record Supplies used)

31 Depreciation Expense 619

Accumulated Depreciation - Buildings 142
(To record monthly depreciation)

31 Depreciation Expense 619

Accumulated Depreciation - Equipment 150
(To record monthly equipment)

31 Interest Expense 718

Interest Payable 230

31 Unearned Rent revenue 209

Rent revenue 429
(To record revenue for unearned rent)

31 Salaries and wages expense 212

Salaries and wages payable
(To record accured salaries and wages)
Totals
tel
RNAL CASH
Debit Kredit Date
ntries 2020
$200 May
$200

$1,330
$1,330

SUPPLIES
$300 Date
$300 2020
May
31
$125
$125 PREPAID INSURANCE
Date
2020
$200 May
$200 31

LAND
$2,200 Date
$2,200 2020
May

$750
$750 BUILDINGS
Date
$5,105 $5,105 2020
May

EQUIPMENT
Date
2020
May

ACCOUNT PAYABLE
Date
2020
May
 UNEARNED RENT REVEN
Date
2020
May
31

MORTGAGE PAYABLE
Date
2020
May

OWNER'S CAPITAL
Date
2020
May

RENT REVENUE
Date
2020
May
31

ADVERTISING EXPENS
Date
2020
May

SALARIES AND WAGES EXPENSE

Date
2020
May
31

UTILITIES EXPENSE
Date
2020
May
 GENERAL
CASH
Account Titles and Explanation Ref Debit Kredit

Cash J1 $3,400

SUPPLIES
Account Titles and Explanation Ref Debit Kredit

Supplies J1 $2,080
Adj. entry $1,330

PREPAID INSURANCE
Account Titles and Explanation Ref Debit Kredit

Prepaid insurance J1 $2,400

Adj. entry $200

LAND
Account Titles and Explanation Ref Debit Kredit

Land J1 $12,000

BUILDINGS
Account Titles and Explanation Ref Debit Kredit

Buildings J1 $60,000

EQUIPMENT
Account Titles and Explanation Ref Debit Kredit

Equipment J1 $15,000

ACCOUNT PAYABLE
Account Titles and Explanation Ref Debit Kredit

Account Payable J1 $4,700

 UNEARNED RENT REVENUE
Account Titles and Explanation Ref Debit Kredit

Unearned rent revenue J1 $3,300

Adj. enty $2,200

MORTGAGE PAYABLE
Account Titles and Explanation Ref Debit Kredit

Mortgage Payable J1 $40,000

OWNER'S CAPITAL
Account Titles and Explanation Ref Debit Kredit

Owner's Capital J1 $41,380

RENT REVENUE
Account Titles and Explanation Ref Debit Kredit

Rent revenue J1 $10,300

Adj. enty $2,200

ADVERTISING EXPENSE
Account Titles and Explanation Ref Debit Kredit

Advertising expense J1 $600

SALARIES AND WAGES EXPENSE

Account Titles and Explanation Ref Debit Kredit

Salaries expenses J1 $3,300

Adj. enty $750

UTILITIES EXPENSE
Account Titles and Explanation Ref Debit Kredit

Utilities expense J1 $900

 GENERAL LEDGER
NO.101 INSURANCE EXPENSE
Balance Date Account Titles and Explanation Ref
2020
$3,400 May 31 Adj. entry J1

SUPPLIES EXPENSE
Date Account Titles and Explanation Ref
2020
May 31 Adj. entry J1
NO.126
Balance
DEPRECIATION EXPENSE
$2,080 Date Account Titles and Explanation Ref
$750 2020
May 31 Adj. entry J1
NO. 130 31 Adj. entry J1
Balance
ACCUMULATED DEPRECIATION - BUILDING
$2,400 Date Account Titles and Explanation Ref
$2,200 2020
May 31 Adj. entry J1
NO. 140
Balance
ACCUMULATED DEPRECIATION - EQUIPMENT
$12,000 Date Account Titles and Explanation Ref
2020
May 31 Adj. entry J1
NO. 141
Balance
INTEREST EXPENSE
$60,000 Date Account Titles and Explanation Ref
2020
May 31 Adj. entry J1
NO. 149
Balance
SALARIES AND WAGES PAYABLE
$15,000 Date Account Titles and Explanation Ref
2020
May 31 Adj. entry J1
NO.201
Balance
INTEREST PAYABLE
($4,700) Date Account Titles and Explanation Ref
2020
May 31 Adj. entry J1
NO. 208
Balance

($3,300)
($1,100)

NO. 275
Balance

($40,000)

NO.301
Balance

($41,380)

NO. 429
Balance

($10,300)
($12,500)

NO.610
Balance

$600

NO.726
Balance

$3,300
$4,050

NO.732
Balance

$900
XPENSE NO. 722 A
Debit Kredit Balance
No Ref.
$200 $200 101
126
130
ENSE NO. 631 140
Debit Kredit Balance 141
142
$1,330 $1,330 149
150
201
N EXPENSE NO. 619 208
Debit Kredit Balance 212
230
$300 $300 275
$125 $425 301
429
RECIATION - BUILDING NO. 142 610
Debit Kredit Balance 619
631
$300 ($300) 718
722
726
ECIATION - EQUIPMENT NO. 150 732
Debit Kredit Balance

$125 ($125)

ENSE 718
Debit Kredit Balance

$200 $200

D WAGES PAYABLE NO.126

Debit Kredit Balance

$750 ($750)

ABLE 230
Debit Kredit Balance

$200 ($200)
 Hank's Hotel
Adjusted Trial Balance
May, 31 2020
Accounts Title Debit Credit
Cash $3,400
Supplies $750
Prepaid Insurance $2,200
Land $12,000
Buildings $60,000
Accumulated Depreciation - Building $300
Equipment $15,000
Accumulated Depreciation - Equipment $125
Account Payable $4,700
Unearned Rent Revenue $1,100
Salaries and wages Payable $750
Interest Payable $200
Mortgage Payable $40,000
Owner's Capital $41,380
Rent Revenue $12,500
Advertising Expense $600
Depreciation Expense $425
Supplies Expense $1,330
Interest Expense $200
Insurance Expense $200
Salaries and wages Expense $4,050
Utilities Expense $900

Totals $101,055 $101,055

 Hank’s Hotel
Income Statement
For the month ended may
Revenue
Rent Revenue $12,500

Total Revenues $12,500

Expenses
Adv. Expense $600
Salaries and wages expense $4,050
Utilities Expense $900
Insurance Expense $200
Supplies Expense $1,330
Depreciation Expense $425
Interest expense $200

Total Expenses $7,705

Net Income $4,795

Hank’s Hotel
Owner's Equity Statement
For the month ended may

Owner's capital, May 1 $0

Add : Investment $41,380
$41,380
Net Income $4,795
$46,175
Owner's Drawing $0
Owner's Capital, May 31 $46,175
 Hank's Hotel
Balance Sheet
May, 31 2020
Assets
Cash
Supplies
Prepaid Insurance
Land
Building $60,000
Accumulated depreciation - Building 300

Equipment $15,000
Accumulated depreciation - equipment $125

Total Assets

Liabilities and Owner's Equity

Liabilities
Account Payable $4,700
Unearned Rent Revenue $1,100
Salaries and wages Payable $750
Mortgage Payable $40,000
Interest Payable $200

Total Liabilities

Owner's Equity
Owner's capital

Total Liabilities and Owner's Equity

 $3,400
$750
$2,200
$12,000

$59,700

$14,875

$92,925

$46,750

$46,175

$92,925
 HAMM EQUIPMENT REPAIR
GENERAL LEDGER
November 1, 2020
CASH
Date Account Titles and Explanation Ref Debit
2020
Nov Cash J1 $2,400

ACCOUNT RECEIVABLE
Date Account Titles and Explanation Ref Debit
2020
Nov Account Receivable J1 $4,250

SUPPLIES
Date Account Titles and Explanation Ref Debit
2020
Nov Supplies J1 $1,800

EQUIPMENT
Date Account Titles and Explanation Ref Debit
2020
Nov Account Payable J1 $12,000

ACCUMULATED DEPRICIATION
Date Account Titles and Explanation Ref Debit
2020
Nov Account Payable J1

ACCOUNT PAYABLE
Date Account Titles and Explanation Ref Debit
2020
Nov Account Payable J1

UNEARNED SERVICE REVENUE

Date Account Titles and Explanation Ref Debit
2020
Nov
2020
Nov Unearned service revenue J1

SALARIES AND WAGES PAYABLE

Date Account Titles and Explanation Ref Debit
2020
Nov Salaries and wages payable J1

OWNER'S CAPITAL
Date Account Titles and Explanation Ref Debit
2020
Nov 1 Owner's Capital J1
EPAIR HAMM EQUIPM
R GENERAL J
0 November
NO.101 Date
Kredit Balance 2020
Nov 1
$2,400

NO.112
Kredit Balance
8
$4,250

10
NO.126
Kredit Balance
12
$1,800

15
NO. 153
Kredit Balance
17
$12,000

20
NO154
Kredit Balance
22
$2,600 ($2,600)

25
NO.201
Kredit Balance
27
$2,600 ($2,600)

29
NO. 209
Kredit Balance
 $1,200 ($1,200)

212
Kredit Balance

$700 ($700)

NO.301
Kredit Balance

$13,950 ($13,950)
 HAMM EQUIPMENT REPAIR
GENERAL JOURNAL
November 1, 2020
Account Titles and Explanation Ref Debit

Cash 101 $2,400

Account Receivable $4,250
Supplies $1,800
Equipment $12,000
Accumulated Depreciation - Equipment
Account Payable
Unearned Service Revenue
Salaries and Wages Payable
Owner's Capital

Salaries and Wages Expense $1,000

Salaries and Wages Payable $700
Cash
Cash $3,620
Account Receivable

Cash $3,100
Service Revenue

Equipment $2,000
Account Payable

Supplies $700
Account Payable

Account payable $2,700

Cash

Rent Expense $400

Cash

Salaries and wages Expense $1,700

Cash

Account Receivable $2,200

Service Revenue

Cash $600
Unearned Revenue
Totals $17,020
 HAMM EQUIPMENT REPAIR
GENERAL LEDGER
November 30, 2020
Kredit CASH
Date Account Titles and Explanation Ref
2020
Nov 1 Cash J1
8 Salaries and wages payable
10 Service Revenue
$2,000 12 Service Revenue
$2,600 20 Account Payable
$1,200 22 Rent Expense
$700 25 Salaries and wages expense
$13,950 29 Unearned Revenue

$1,700
ACCOUNT RECEIVABLE
$3,620 Date Account Titles and Explanation Ref
2020
Nov 1 Account Receivable J1
$3,100 10 Account Receivable
27 Account Receivable

$2,000
SUPPLIES
Date Account Titles and Explanation Ref
$700 2020
Nov 1 Supplies J1
17 Supplies
$2,700
EQUIPMENT
Date Account Titles and Explanation Ref
$400 2020
Nov 1 Equipment J1
15 Equipment
$1,700
ACCUMULATED DEPRECIATION
Date Account Titles and Explanation Ref
$2,200 2020
Nov 1 Accumulated Depreciation J1

$600
ACCOUNT PAYABLE
Date Account Titles and Explanation Ref
$17,020 2020
Nov 1 Account Payable J1
15 Account Payable
17 Account Payable
20 Account Payable

UNEARNED SERVICE REVENUE

Date Account Titles and Explanation Ref
2020
Nov 1 Unearned service revenue J1
29 Unearned service revenue

SALARIES AND WAGES PAYABLE

Date Account Titles and Explanation Ref
2020
Nov 1 Salaries and wages payable J1
8 Salaries and wages payable

OWNER'S CAPITAL
Date Account Titles and Explanation Ref
2020
Nov 1 Owner's Capital J1

SERVICE REVENUE
Date Account Titles and Explanation Ref
2020
Nov 12 Service Revenue J1
27 Service Revenue

RENT EXPENSE
Date Account Titles and Explanation Ref
2020
Nov 22 Rent Expense J1

SALARIES AND WAGES EXPENSE

Date Account Titles and Explanation Ref
2020
Nov 8 Salaries and wages expense J1
25 Salaries and wages expense
UIPMENT REPAIR HAMM E
RAL LEDGER
mber 30, 2020
NO.101 No Ref.
Debit Kredit Balance 101
113
$2,400 $2,400 126
$1,700 $700 153
$3,620 $4,320 154
$3,100 $7,420 201
$2,700 $4,720 209
$400 $4,320 212
1700 $2,620 301
$600 $3,220 429
726
729

E NO.112
Debit Kredit Balance

$4,250 $4,250
$3,620 $630
$2,200 $2,830

NO.126
Debit Kredit Balance

$1,800 $1,800
$700 $2,500

NO. 153
Debit Kredit Balance

$12,000 $12,000
$2,000 $14,000

RECIATION NO154
Debit Kredit Balance

$2,000 ($2,000)

NO.201
Debit Kredit Balance
 $2,600 ($2,600)
$2,000 ($4,600)
$700 ($5,300)
$2,700 ($2,600)

EVENUE NO. 209

Debit Kredit Balance

$1,200 ($1,200)
$600 ($1,800)

212
Debit Kredit Balance

$700 ($700)
$700 $0

NO.301
Debit Kredit Balance

$13,950 ($13,950)

NO.429
Debit Kredit Balance

$3,100 ($3,100)
$2,200 ($5,300)

NO.729
Debit Kredit Balance

$400 $400

212
Debit Kredit Balance

$1,000 $1,000
$1,700 $2,700
 HAMM EQUIPMENT REPAIR
Trial Balance
May, 31 2020
Accounts Title Debit Credit
Cash $3,220
Account Receivable $2,830
Supplies $2,500
Equipment $14,000
Accumulated Depreciation - Equipment $2,000
Account Payable $2,600
Unearned Service Revenue $1,800
Salaries and wages Payable $0
Owner's Capital $13,950
Service Revenue $5,300
Salaries and wages Expense $2,700
Rent Expense $400

Totals $25,650 $25,650

 HAMM EQUIPMENT REPAIR
GENERAL JOURNAL
Date Account Titles and Explanation Ref
Adjustment Entries
2020 31 Supplies Expense 631
May Supplies 126
(To record Supplies used)

31 Salaries and wages expense 212

Salaries and wages payable
(To record accured salaries and wages)

31 Depreciation Expense 619

Accumulated Depreciation - Equipment 142
(To record monthly depreciation)

31 Unearned Service revenue 209

Service revenue 429
(To record revenue for service rent)

Totals
T REPAIR
RNAL CASH
Debit Kredit Date
ntries 2020
$1,100 Nov 1
$1,100 8
10
12
$350 20
$350 22
25
29
$200
$200

$1,220 ACCOUNT RECEIVABLE

$1,220 Date
2020
Nov 1
10
27

SUPPLIES
Date
2020
Nov 1
17
31

$2,870 $2,870

EQUIPMENT
Date
2020
Nov 1
15

ACCUMULATED DEPRECIATION - E
Date
2020
Nov 1
31
 ACCOUNT PAYABLE
Date
2020
Nov 1
15
17
20

UNEARNED SERVICE REV

Date
2020
Nov 1
29
31
 GENERAL LEDGE
CASH NO.101
Account Titles and Explanation Ref Debit Kredit Balance

Cash J1 $2,400 $2,400

Salaries and wages payable $1,700 $700
Service Revenue $3,620 $4,320
Service Revenue $3,100 $7,420
Account Payable $2,700 $4,720
Rent Expense $400 $4,320
Salaries and wages expense 1700 $2,620
Unearned Revenue $600 $3,220

ACCOUNT RECEIVABLE NO.112

Account Titles and Explanation Ref Debit Kredit Balance

Account Receivable J1 $4,250 $4,250

Account Receivable $3,620 $630
Account Receivable $2,200 $2,830

SUPPLIES NO.126
Account Titles and Explanation Ref Debit Kredit Balance

Supplies J1 $1,800 $1,800

Supplies $700 $2,500
Adj. Entry $1,100 $1,400

EQUIPMENT NO. 153

Account Titles and Explanation Ref Debit Kredit Balance

Equipment J1 $12,000 $12,000

Equipment $2,000 $14,000

ACCUMULATED DEPRECIATION - EQUIPMENT NO. 154

Account Titles and Explanation Ref Debit Kredit Balance

Accumulated Depreciation J1 $2,000 ($2,000)

Adj. Entry 200 ($2,200)
 ACCOUNT PAYABLE NO.201
Account Titles and Explanation Ref Debit Kredit Balance

Account Payable J1 $2,600 ($2,600)

Account Payable $2,000 ($4,600)
Account Payable $700 ($5,300)
Account Payable $2,700 ($2,600)

UNEARNED SERVICE REVENUE NO. 209

Account Titles and Explanation Ref Debit Kredit Balance

Unearned service revenue J1 $1,200 ($1,200)

Unearned service revenue $600 ($1,800)
Adj. Entry $1,220 ($580)
GENERAL LEDGER
SALARIES AND WAGES PAYABLE
Date Account Titles and Explanation Ref Debit
2020
Nov 1 Salaries and wages payable J1
8 Salaries and wages payable $700
31 Adj. Entry

OWNER'S CAPITAL
Date Account Titles and Explanation Ref Debit
2020
Nov 1 Owner's Capital J1

SERVICE REVENUE
Date Account Titles and Explanation Ref Debit
2020
Nov 12 Service Revenue J1
27 Service Revenue
31 Adj. Entry

DEPRECIATION EXPENSE
Date Account Titles and Explanation Ref Debit
2020
Nov 31 Adj. entry J1 $200

SUPPLIES EXPENSE
Date Account Titles and Explanation Ref Debit
2020
Nov 31 Adj. entry J1 $1,100

SALARIES AND WAGES EXPENSE

Date Account Titles and Explanation Ref Debit
2020
Nov 8 Salaries and wages expense J1 $1,000
25 Salaries and wages expense $1,700
31 Adj. Entry $350
RENT EXPENSE
Date Account Titles and Explanation Ref Debit
2020
Nov 22 Rent Expense J1 $400
 HAMM EQUIPMENT RE
212 Adjusted Trial Balanc
Kredit Balance November, 31 2020
No Ref.
$700 ($700) 101
$0 113
$350 ($350) 126
153
154
201
NO.301 209
Kredit Balance 212
301
$13,950 ($13,950) 429
619
631
NO. 407 726
Kredit Balance 729

$3,100 ($3,100)
$2,200 ($5,300)
$1,220 ($6,520)

NO. 615
Kredit Balance

$200

NO. 631
Kredit Balance

$1,100

NO. 726
Kredit Balance

$1,000
$2,700
$3,050
 NO. 729
Kredit Balance

$400
 HAMM EQUIPMENT REPAIR
Adjusted Trial Balance
November, 31 2020
Accounts Title Debit Credit
Cash $3,220
Account Receivable $2,830
Supplies $1,400
Equipment $14,000
Accumulated Depreciation - Equipment $2,200
Account Payable $2,600
Unearned Service Revenue $580
Salaries and wages Payable $350
Owner's Capital $13,950
Service Revenue $6,520
Depreciation Expense $200
Supplies Expense $1,100
Salaries and wages Expense $3,050
Rent Expense $400

Totals $26,200 $26,200

 HAMM EQUIPMENT REPAIR
Income Statement
For the month ended Nov
Revenue
Service Revenue $6,520

Total Revenues $6,520

Expenses

Salaries and wages expense $3,050

Supplies Expense $1,100
Depreciation Expense $200
Rent expense $400

Total Expenses $4,750

Net Income $1,770

HAMM EQUIPMENT REPAIR

Owner's Equity Statement
For the month ended Nov

Owner's capital, Nov 1 $0

Add : Investment $13,950
$13,950
Net Income $1,770
$15,720
Owner's Drawing $0
Owner's Capital, Nov 31 $15,720
 HAMM EQUIPMENT REPAIR
Balance Sheet
Nov, 31 2020
Assets
Cash
Account Receivable
Supplies
Equipment $14,000
Accumulated depreciation - equipment $2,200

Total Assets

Liabilities and Owner's Equity

Liabilities
Account Payable $2,600
Unearned Service Revenue $580
Salaries and wages Payable $350

Total Liabilities

Owner's Equity
Owner's capital

Total Liabilities and Owner's Equity

 $3,220
$2,830
$1,400

$11,800

$19,250

$3,530

$15,720

$19,250