RCES Problem 4-3A The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31. ork Credit MOTO HOTEL Trial Balance May 31, 2017 Debit $ 2,523 2,600 1,800 15,023 400 16,800 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense $ 4,723 3,300 38,400 60,023 9,000 Study 3,000 800 500 $115,446 $115,446 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1,190 of unused supplies on May 31. 3. (a) Annual depreciation is $3,240 on the building. (b) Annual depreciation is $2,640 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,600 has been earned. 6. Salaries of $770 are accrued and unpaid at May 31. MOTO HOTEL Retained Earnings Statement For the Month Ended May 31, 2017 - Retained Earnings, May 1 Add 4 Net Income / (Loss) (1,220) tudy Retained Earnings, May 31 - (1,220)