need help creating owners equity statement
Weygandt, Accounting Principles, 13e Hele System Announcements roblem 3-02A a-d (Part Level Submission) llumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Account Number Credit 101 130 Debit $ 3,400 2,050 1.800 13,000 58,800 15,600 140 141 149 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 208 $ 4,900 3,000 40.000 41.000 10,500 301 600 3.200 950 599,400 $99,400 In addition to those accounts listed on the trial balance, the chart of accounts for Cullumber's Hotel also contains the followi 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 $700 of unused supplies on May 31. 3. Annual depreciation is $3,528 on the buildings and $1,560 on equipment. 4. The mortgage at an annual interest rate is 6%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $800 are accrued and unpaid at May 31. (a) Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is ente No. Date Account Titles and Explanation Debit Credit 1. May 31 2. May 31 3. May 31 SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TECT (d2) Prepare an owner's equity statement for the month of May. CULLUMBER'S HOTEL Owner's Equity Statement Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT (d) The parts of this question must be completed in order. This part will be available when you complete the O Type here to search