Problem 4-03A The Blossom Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. BLOSSOM HOTEL Trial Balance May 31, 2022 Debit Credit Cash $ 2,283 Supplies 2,600 Prepaid Insurance 1,800 Land 14,783 Buildings 72,400 Equipment 16,800 Accounts Payable $ 4,483 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,783 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $114,966 $114,966 Other data: 1. Insurance expires at the rate of $360 per month 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $2,760 on the building. (b) Annual depreciation is $2,160 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 $810 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 enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3(b). 5. 6. 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 Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense Prepare an adjusted trial balance on May 31. BLOSSOM HOTEL Adjusted Trial Balance Debit Credit S Prepare an income statement for the month of May. BLOSSOM HOTEL Income Statement SHOW LIST OF ACCOUNTS Prepare a retained earnings statement for the month of May. BLOSSOM HOTEL Retained Earnings Statement Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, plant and Equipment in order of Land, Buildings and Equipment.) BLOSSOM HOTEL Balance Sheet Assets Liabilities and Stockholders' Equity S Identify which accounts should be dosed on May 31. Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Uneamed Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense Click if you would like to Show Work for this question: Open Show Work