Account Number Debit Credit 101 Cash 3,500 126 Supplies 2,100 130 Prepaid Insurance 2,400 140 Land 12,000 141 Buildings 60,000 149 Equipment 15,600 201 Accounts Payable 4,800 208 Unearned Rent Revenue 3,210 275 Mortgage Payable 40,000 311 Share Capital-Ordinary 41,100 332 Dividends 900 429 Rent Revenue 12,440 610 Advertising Expense 550 726 Salaries and Wages Expense 3,600 732 Utilities Expense 900 101,550 101,550 In addition to those accounts listed on the trial balance, the chart of accounts for Lazy River Resort also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment. 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 800 of unused supplies on May 31. 3. Annual depreciation is 3,600 on buildings and 2.340 on equipment. 4. 5. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue is recognized as revenue. 7. Salaries of 800 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit 1. May 31 Insurance Expense May 2. 31 May 3. 31 4. May 31 Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question. Round answers to O decimal places, eg 5,275.) Cash No. 101 Date Explanation Ref. Debit Credit Balance May 31 Balance Supplies No. 126 Date Explanation Ref. Debit Credit Balance May 31 Balance V May 31 Adjusting 01 Prepaid Insurance No. 130 Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 31 Land No. 140 Date Explanation Ref. Debit Credit Balance LAZY RIVER RESORT Adjusted Trial Balance 0 Debit Credit Prepare an income statement for the month of May 31. (Round answers to 0 decimal places, e.g. 5,275.) LAZY RIVER RESORT Income Statement Prepare a retained earnings statement for the month of May 31. (List items that increase retained earnings first. Round answers to O decimal places, e.g. 5,275.) LAZY RIVER RESORT Retained Earnings Statement 0 eTextbook and Media List of Accounts Prepare a statement of financial position as of May 31. (List Property, Plant and Equipment in order of Land, Buildings and Equipment. List Current Assets in the reverse order of liquidity. Round answers to O decimal places, e.g. 5,275.) LAZY RIVER RESORT, Statement of Financial Position Assets Equity and Liabilities 1