SHERIDAN HOTEL Trial Balance May 31, 2022 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,160 of unused supplies on May 31. 3. (a) Annual depreciation is $3,360 on the building. (b) Annual depreciation is $2,760 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1. ) 5. Unearned rent of $2,530 has been earned. 6. Salaries of $830 are accrued and unpaid at May 31 . No. Account Titles and Explanation Debit Credit 1. Insurance Expense Prepaid Insurance 2. Supplies Expense Supplies 3(a). Depreciation Expense 280 Accumulated Depreciation-Bulidings 3 (b). Depreciation Expense 230 Accumulated Depreciation-Equipment 4. Interest Expense 310 230 Interest Payable 5. Unearned Rent Revenue 2530 Rent Revenue 2530 6. Salaries and Wages Expense 830 Salaries and Wages Payable Cash Supplies Land Building Accumulated Depreciation-Building Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue 9000 Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense SHERIDAN HOTEL Adjusted Trial Balance Debit Credit cash Supplies Prepaid Insurance Land Buldings Accumolated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgase Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Advertising Expense Insurance Expense Supplies Expense Depreciation Experse Interest Expense SHERIDAN HOTEL Income Statement Mav 31. 2022 Revenues Salaries and Wages Expense Utilities Expense: Advertising Expense Insurance Expense Advertising Expense Supplies Expenve Depreciation Expense TotalExpenses Net income/ (Loss) SHERIDAN HOTEL Retained Earnings Statement $ $