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2 Dr. Dr. 4 5 6 7 0 9 10 11 12 14 15 16 12 10 19 Worksheet Question P3-21 Trial Balance djustments (JournaAdjusted Trial Balancencome Statemer Balance Sheet Accounts Titles Dr. Cr. Dr. Cr. Cr. Cr. Dr. Cr. Cash 3,500 3,500 3,500 Supplies 2,200 1,450 750 750 Prepaid Insurance 2,280 190 2,090 2,090 Land 12,000 12,000 12,000 Lodge 60,000 60,000 60,000 Furniture 15,000 15,000 15,000 Accounts Payable 4,800 4,800 4.800 Unearned Rent Revenue 3,300 2,200 1,100 1,100 Mortgage Payable 35,000 35,000 35,000 Kevin, Capital 46,380 46,380 50,865 Rent Revenue 10,300 2,200 12,500 12,500 Advertising Expense 600 600 600 Salaries Expense 3,300 750 4,050 4,050 Utilities Expense 900 900 900 Totals 99,780 99,780 Insurance Expense 190 190 190 Supplies Expnese 1,450 1,450 1.450 Depreciation Exp - Lodge 250 250 250 Accumulated Dep.- Lodge 250 250 250 225 225 225 Depreciation Exp - Furniture Accumulated Dep.- Furniture 225 225 225 Interest Expense 350 350 350 Interest Payable 350 350 350 Salaries Payable 750 750 750 Totals 5,415 5,415 101,359 101,355 8,015 12,500 93,340 93,340 Net Income(loss) 4,485 Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2010. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,000 on the lodge and $2,700 on furniture. 4. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $750 are accrued and unpaid at May 31. 20 21 22 2 Z 25 27 2 23 21