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can someone please help me through this question, i need help with all parts if possible please. Question 7 of 7 Insurance Expense Supplies Expense
can someone please help me through this question, i need help with all parts if possible please.
Question 7 of 7 Insurance Expense Supplies Expense eTextbook and Media List of Accounts Question 7 Unearned Rent Revenue Closed Notes Payable closed Common Stock Closed Rent Revenue Not Closed Salaries and Wages Expense Not Closed Utilities Expense Not Closed Advertising Expense Not Closed Interest Expense Closed Insurance Expense Not Closed Supplies Expense Not Closed Depreciation Expense Closed Accumulated Depreciation-Buildings Closed Accumulated Depreciation-Equipment Closed Question 7 of 7 Accumulated Depreciation-Equipment Accounts Payable Interest Payable Salaries and Wages Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Interest Expense Supplies Expense Utilities Expense Insurance Expense Question 7 of 7 .11 Prepures retsined Quningsstatement for the month of Mry. eTextbook and Media List of Accounts Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Bulidings and Equipment.) Prepare anlecome mbirenent for the monthor May. The Oriole Hotel opened for business on May 1,2025. Here is its trial balance before adjustment on May 31. Saved work will be auto-submitted on the due date. Auto Question 7 of 7 Prepare a retained earnings statement for the month of May. Question 7 of 7 11 Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Advertising Expense Interest Expense Journalize the adjusting entries on May 31 . (List all debit entries before credit entries. If no entryis required, select "No Entry' for the occount titles and enter Ofor the amounts. Credit account titles are automatically indented when the amoupt is entered. Do not indent manually) Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adfunting entries. (Post entries in the order of fournal entries presented in the previous questiond Question 7 of 7 Liabilities and Stockholders' Equity Question 7 of 7 11 Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue 11 Prepare a classified thalanke skiect at May 31. (U)t current assets in ordes of liquidity. Ebt Property. Plant ond Equipment in order of Lend. Buldings and Equpment.) Question 7 of 7 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1.070 of unused supplies on May 31. 3. Annual depreciation is $2,880 on the building and $2.280 on equipment. 4. The notes payable interest rate is 5%. The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note.) 5. Unearned rent of $2,690 has been earned. 6. Salaries of $690 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit occount titles are automatically indented when the amount is entered. Do not indent Identify which accounts should be closed on May 31. Cash Closed Supplies Not Closed Prepaid Insurance Closed Land Closed Buildings Closed Equipment Not Closed Accounts Payable Closed Unearned Rent Revenue Closed Notes Payable Closed Common Stock Closed Rent Revenue Not Closed Salarips and Wages Expense NotClosed Question 7 of 7 (To record depreciation on buildings) Depreciation Expense. 100 Accumulated Depreciation-Equipment (To record depreciation on equiptinent) 4. Interest Expense Interest Payable 5. Uncarned Rent Revenue Rent Revenue 6. Salsries and Wages Expense Salarles and Wages Paysble eTextbook and Media List of Accounts Step by Step Solution
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