inancial Accounting, 9e Hele I System Announcements Problem 4-03A The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CRANE HOTEL Trial Balance May 31, 2022 Debit Credit $ 2,453 Cash Supplies 2,600 Prepaid Insurance 1,800 Land 14,953 Buildings 72,400 Equipment 16,800 Accounts Payable $4,653 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,953 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $115,306 $115,306 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,120 of unused supplies on May 31 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,120 on equipment. 4. The mortgage interest rate is 5 %. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,580 has been earned. 6. Salaries of $820 are accrued and unpaid at May 31 Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Insurance Expense 1. 450 Prepaid Insurance 450 2. Supplies Expense 1480 Supplies 1480 3 (a). Depreciation Expense 310 Accumulated Depreciation-Buildings 310 a Coin Br.. M Inbox (78)- ting g.. HBX-Globally Cu ACCESSORIES- H Mishka NYC Obey Men's T-Shi Sweatshirts Dia. Summer 2018-P 2016 ECam Return to Blackboard Kimmel, Financial Accounting, 9e Hele I Satem Announcements CALCULATOR PRINTER VERSION 3. Uvareu r Or 2380 Tias veen earneu 6. Salaries of $820 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry for the account bitles and enter o for the amounts Credit account titles are automatically lodented when the amount is entered. Do not indent aanually.) No. Account Titles and Explanation Debit Credit 1. Insurance Expense 450 Prepaid Insurance 450 Supplies Expense 2. 1480 Supplies 1480 3 (a). Deprediation Expense 310 Accumulated Depreciation-Buldings 310 3 (b). Depreciation Expense 260 Accumulated Deprediation-Equipment 260 4 5. 6. SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entrles presented in the previous question.) Cash Supplies Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipement Accumulated Depreciation-Equipment Accounts Payable Uneaned Rent Revenue Salaries and Wages Payable agast Bayabla. Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Deprediation Expense SHOW LIST OF ACCOUNTS Prepare an adjusted trial balance on May 31. CRANE HOTEL Adjusted Trial Balance Credit Debit SHOW LUST OF ACCOUNTS INK TO TEXT CALCULATOR PRINTER VERSION tiabilities and Stockholders Equity s SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Identify which accounts should be closed on May 31 Cash Supplies repaid Insurance Land Bulldings Equioment Accounts Payable Unearned Rent Revenue Mortgage Payable SHOW LIST OF ACCOUNTS LINK T LINK TO TEXT Identify which accounts should be closed on May 31 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Ublities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depredation Expense SHOW LIST OF ACCOUNTS LINK TO TEXT