Question

Please calculate the accumulated depreciation of the equipment. 180 / 1662 / and then what is the third number on the Ivanhoe Hotel balance sheet?

The Ivanhoe Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31.

IVANHOE HOTEL Trial Balance May 31, 2022
		Debit			Credit
Cash		$ 2,613
Supplies		2,600
Prepaid Insurance		1,800
Land		15,113
Buildings		70,000
Equipment		16,800
Accounts Payable					$ 4,813
Unearned Rent Revenue					3,300
Mortgage Payable					36,000
Common Stock					60,113
Rent Revenue					9,000
Salaries and Wages Expense		3,000
Utilities Expense		800
Advertising Expense		500
		$113,226			$113,226

Other data:

1.		Insurance expires at the rate of $360 per month.
2.		A count of supplies shows $1,180 of unused supplies on May 31.
3.		(a) Annual depreciation is $2,760 on the building.
		(b) Annual depreciation is $2,160 on equipment.
4.		The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)
5.		Unearned rent of $2,670 has been earned.
6.		Salaries of $710 are accrued and unpaid at May 31.

Answer 1

The Accumulated Depreciation for equipment is $2160.

Other parts of balance sheet are:

Adjusted Trial Balance for the month ended May 31, 2022
	Unadj Trial Balance		Adjustment		Adjusted T/B
	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	2613				2613
Supplies	2600			1420	1180
Prep Ins.	1800			360	1440
Land	15113				15113
Building	70000				70000
Acc Dep-build				2760		2760
Equipment	16800				16800
Acc Dep- Equip				2160		2160
AP		4813				4813
Inter. Payable				150		150
Sal. & wages payable				710		710
Unearned Rent rev.		3300	2670			630
Mortgage payable		36000				36000
CS		60113				60113
Rent Rev.		9000		2670		11670
Sal. & wages exp.	3000		710		3710
Utilities exp.	800				800
Advertising Exp.	500				500
Insu exp			360		360
Supp. Exp			1420		1420
Depre exp			4920		4920
Int. exp.			150		150
Total	113226	113226	10230	10230	119006	119006

Income Statement
	Amount $
Rent Rev.	11670
Less:Expenses:
Sal. & wages exp.	3710
Utilities exp.	800
Advertising Exp.	500
Insu exp	360
Supp. Exp	1420
Depre exp	4920
Int. exp.	150
total Exp.	11860
Net Loss	-190
Balance Sheet:
Assets:	Amount $
Cash	2613
Supplies	1180
Prep Ins.	1440
Current Assets	5233
Land	15113
Building	70000
Acc Dep-build	-2760
Equipment	16800
Acc Dep- Equip	-2160
Total Assets=	102226
Liabilities & Equity:	Amount $
AP	4813
Inter. Payable	150
Sal. & wages payable	710
Unearned Rent rev.	630
Current Liabilities	6303
Mortgage payable	36000
Total Liabilities	42303
CS	60113
RE	-190
Total Liab. & Equity	102226