ABC HOTEL

WORKSHEET
For the year ended July 31, 2019

Adjusted Trial
Account Titles Trial Balance Adjustments Balance
Debit Credit Debit Credit Debit
Cash 41,600 41,600
Accounts Receivable 10,000 10,000
Guest Supplies 8,000 b) 4,500 3,500
Prepaid Rent 6,000 a) 3,000 3,000
Kitchen Equipment 120,000 120,000
Accum Dep'r-Kitchen Equipment c) 1,000
Accounts Payable 1,000
Wages Payable d) 1,800
Unearned Revenue 5,000
ABC Hotel, Capital 150,000
ABC Hotel, Drawing 5,000 5,000
Income Summary
Income 48,000
Wages Expense 11,400 d) 1,800 13,200
Guest Supplies Expense b) 4,500 4,500
Rent Expense a) 3000 3,000
Depr'n Expense-Kitchen Equipment c) 1000 1,000
Utilities Expense 2,000 2,000
204,000 204,000 10,300 10,300 206,800
Profit

1 Prepare ABC Hotel's Income Statement

2 Prepare ABC Hotel's Balance Sheet
3 Compute for ABC Hotel's Statement of Equity
1, 2019

Statement of
Income Statement Financial Position
Credit Debit Credit Debit Credit
41,600
10,000
3,500
3,000
120,000
1,000 1,000
1,000 1,000
1,800 1,800
5,000 5,000
150,000 150,000
5,000

48,000 48,000
13,200
4,500
3,000
1,000
2,000
206,800 23,700 48,000 183,100 158,800
24,300 24,300
48,000 48,000 183,100 183,100
 ABC HOTEL
Income Statement
For the year ended July 31, 2019

Revenue
Income

Expenses
Wages Expense 13,200
Guest Supplies Expense 4,500
Rent Expense 3,000
Depr'n Expense-Kitchen Equipement 1,000
Utilities Expense 2,000
Total Expenses
Net Income
48,000

23,700
24,300
 ABC HOTEL
Balance Sheet
For the year ended July 31, 2019

Assets
Current Assets
Cash 41,600
Accounts receivable 10,000
Guest Supplies 3,500
Prepaid Rent 3,000
Total Current Assets

Non-Current Assets
Kitchen equipment 120,000
Less: Accum Dep'r- Kitchen Equipment (1,000)
Total Non- Current Assets
Total Assets

Liabilities and Capital

Current Liabilities
Accounts Payable
Wages payable
Unearened Revenue
Total Current Liabilities

ABC Hotel Capital( equity)

Total Liabilities
 58,100

119,000
177,100

1,000
1,800
5,000
7,800

169,300
177,100
 ABC HOTEL
Statement of Equity
For the year ended July 31, 2019

Capital 150000
Net Profit 24300
Drawing 5,000
Total Liabilities and Stockholder's Equity 169,300