*ANSWERS FOR THE RED AND WHITE BOXES ARE NEEDED ONLY THE GREEN BOXES ARE ALREADY ANSWERED

Current Attempt in Progress Crane's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. CRANE'S HOTEL Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $ 3.600 126 Supplies 2.100 130 Prepaid Insurance 3.000 140 Land 15,000 141 Buildings 61.200 149 Equipment 14.400 200 Notes Payable $ 40.000 201 Accounts Payable 4.800 208 Unearned Rent Revenue 3.000 301 Owner's Capital 41,400 429 Rent Revenue 14,950 610 Advertising Expense 600 726 Salaries and Wages Expense 3.300 732 Utilities Expense 950 $104.150 $104,150 In addition to those accounts listed on the trial balance, the chart of accounts for Crane's Hotel also contains the following accou 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 Interes Expense, and No. 722 Insurance Expense. Other data: 1. 2. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $700 of unused supplies on May 31. . Annual depreciation is $3,672 on the buildings and $1,440 on equipment. 3. 4. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries and wages of $700 are unpaid and unrecorded at May 31. (c) Your answer is partially correct. Prepare an adjusted trial balance on May 31. CRANE'S HOTEL Adjusted Trial Balance May 31, 2022 Debit Credit Cash $ 3600 $ Supplies 700 Prepald Insurance 2750 Land 15000 Buildings 61200 Accumulated Depreciation-Buildings 306 Equipment 14400 Accumulated Depreciation-Equipment 120 Notes Payable 40000 Accounts Payable 4800 Unearned Rent Revenue 1000 Interest Payable 200 Salaries and Wages Expense 4000 Owner's Capital 41400 Rent Revenue 16950 Advertising Expense 600 Supplies Expense 4000 Utilities Expense 950 Insurance Expense 250 Supplies Expense 1400 Depreciation Expense 426 Interest Expense 200 Totals $ 105476 $ 105476 e Textbook and Media List of Accounts Save for Later Last saved 1 second ago Attempts: 3 of 5 used Submit Answer Attempts: 2 of 5 used (d2) Your answer is partially correct. Prepare an owner's equity statement for the month of May. CRANE'S HOTEL Owner's Equity Statement For the Month Ended May 31, 2022 Owner's Capital, May 1 $ $ Add Net Income/(Loss) V 9124 Expenses 0 Owner's Capital, May 31 V $ 50524 e Textbook and Media List of Accounts Save for Later Last saved 1 second ago. Attempts: 2 of 5 used Submit Answer Your answer is partially correct. Prepare a balance sheet at May 31. (List Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) CRANE'S HOTEL Balance Sheet May 31, 2022 Assets 3600 700 Code 2750 15000 61200 ccumulated Depreciation-Buildings 306 i 14400 sccumulated Depreciation-Equipment 120 i 90174 97224 Liabilities and Owner's Equity 40000 4800 lenue 1000 200 Payable 700 lities V 46700 50524 Owner's Equity $ 97224 e Textbook and Media List of Accounts Save for Later Attempts: 3 of 5 used Submit Answer (d3) Your answer is partially correct. Prepare a balance sheet at May 31. (List Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) CRANE'S HOTEL Balance Sheet May 31, 2022 Assets Cash Supplies Prepaid Insurance Land Buildings 61200 Less Accumulated Depreciation-Buildings 306 Equipment 14400 Less V Accumulated Depreciation-Equipment 120 Total Assets Liabilities and Owner's Equity Liabilities Notes Payable Accounts Payable Unearned Rent Revenue Interest Payable Salaries and Wages Payable Total Current Liabilities Owner's Equity Owner's Capital Total Liabilities and Owner's Equity e Textbook and Media List of Accounts Save for Later Attempts: 3 of 5 used Submit