10:06 Safari iii. Prepare an income statement, a statement of Owner's Equity (no additional investments were made during the year), and a balance sheet. Question 8 The Promenade Motel opened for business on May 1, 2020. Its trial balance adjustment on May 31 is as follows. Account Number 101 126 130 140 141 149 Assignment 12 201 208 275 301 429 610 726 732 Required: PROMENADE MOTEL Trial Balance May 31, 2020 Cash Supplies Prepaid Insurance Land Lodge Furniture Accounts Payable Unearned Rent Mortgage Payable Jijjah, Capital Rent Revenue Advertising Expense Salaries Expense Utilities Expense Debit (RM) 2500 1900 2400 15000 70000 16800 500 3000 1000 113100 Credit (RM) In addition to those accounts listed on the trial balance, the chart of accounts for Promenade Motel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation - Lodge, 150 Accumulated Depreciation - Furniture, 212 Salaries Payable, 230 Interest Payable, 619 Depreciation Expense Lodge, 621 Depreciation Expense - Furniture, 631 Supplies Expense, 718 Interest Expense, and 722 insurance Expense. - 5300 3600 35000 60000 9200 113100 Other data: a. Insurance expires at the rate of RM200 per month. b. A count of supplies shows RM900 of unused supplies on May 31. c. Annual depreciation is RM2400 on the lodge and RM3000 on furniture. d. The mortgage interest rate is 12 % (The mortgage was taken out on May 1). e. Unearned rent of RM2500 has been earned. f. Salaries of RM800 are accrued and unpaid at May 31. i.Journalize the adjusting entries on May 31. ii. Prepare a ledger. iii. Prepare an adjusted trial balance on May 31. iv. Prepare an income statement and owner's equity statement for the month of May and Balance sheet as May 31.