Problem 3-02A a-d (Part Level Submission)

Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows.

CULLUMBER'S HOTEL Trial Balance May 31, 2020
Account Number				Debit		Credit
101		Cash		$ 3,400
126		Supplies		2,100
130		Prepaid Insurance		3,000
140		Land		15,000
141		Buildings		60,600
149		Equipment		15,600
201		Accounts Payable				$ 4,800
208		Unearned Rent Revenue				3,300
275		Mortgage Payable				40,000
301		Owners Capital				41,200
429		Rent Revenue				15,100
610		Advertising Expense		550
726		Salaries and Wages Expense		3,200
732		Utilities Expense		950
				$104,400		$104,400

In addition to those accounts listed on the trial balance, the chart of accounts for Cullumbers Hotel also contains the following accounts and account numbers: No. 142 Accumulated DepreciationBuildings, No. 150 Accumulated DepreciationEquipment, 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.		Prepaid insurance is a 1-year policy starting May 1, 2020.
2.		A count of supplies shows $700 of unused supplies on May 31.
3.		Annual depreciation is $3,636 on the buildings and $1,560 on equipment.
4.		The mortgage at an annual 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 $700 are accrued and unpaid at May 31.

(a)

Journalize the adjusting entries on May 31. (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
2.	May 31
3.	May 31
4.	May 31
5.	May 31
6.	May 31

Click if you would like to Show Work for this question:

Open Show Work