Q.1. Rocks Motel opened for business on May 1, 2017. Its trial balance before adjustment on May 31 is as follows. Rocks Motel Trial Balance May 31, 2017 Account Number Debit Credit 101 Cash $ 3,500 126 Supplies 2,080 130 Prepaid Insurance 2,400 140 Land 12.000 141 Buildings 60,000 149 Equipment 15,000 201 Accounts Payable $ 4,800 208 Unearned Rent Revenue 3,300 275 Mortgage Payable 40,000 301 Owner's Capital 41,380 Rent Revenue 10,300 610 Advertising Expense 600 726 Salaries and Wages Expense 3,300 732 Utilities Expense 900 $99,780 $99,780 429 Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2017. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,000 on the buildings and $1,500 on equipment 4. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $750 are accrued and unpaid at May 31. Instructions: (7+3+5+5=20) (a) Journalize the adjusting entries on May 31. (b) Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (c) Prepare an adjusted trial balance on May 31. (d) Prepare an income statement and an owner's equity statement for the month of May and a balance sheet at May 31