Study & Practice Open Assignment Problem 4-3A 14. Here is its trial balance before adjustment on May 31. SOLO HOTEL Trial Balance May 31, 2014 123 Debit Supplies Prepaid Insurance Land Buldings $ 2,875 2,600 1,800 15,375 74,800 16,800 Accounts Payable Uneamed Rant Revenug Mortgage Payable $ 5,075 3,300 40,800 60,375 9,000 Common Stock ant Revetrue Salaries and wages Expense usiities Expense Advertsing Expense 3,000 800 118,550 sance eulres at the rats of $300 per month. 5 $1,082 of u deprecation is 13,360 on the building 1,800 15,375 74,800 16,800 Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Hortgage Payable Common Stock Rent Revenue Salaries and Wages Expense $5,075 3,300 40,800 60,375 9,000 3,000 800 Ubiities Expense Advertising Expense 500w $118,550 $118.550 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1,082 of unused supplies on May 31. 3. (a) Annual depreciation is $3,360 on the building. b) Annual depreciation is $3,240 on equipment. 4, Th mortgage interest rate is 6%. (The mortgage was taken out on May 1 .) s. Unearned rent of $2,669 has been earned. s Salaries of 657 are accrued and unpaid at May 31. r aner is partally correct. Try again. All Rights Reverved. A D . The motgage 5. Uneaned rent of $2,669 has been earned. 6. Salaries of $657 are accrued and unpaid at May 31. Your answer is partially correct. Try again. lounalize the adjusting entries on May 31. (Credit account titles are automatically indented when the am No. Account Titles and Explanation 1. Insurance Expense Debit Credit 300 Prepaid Insurance 300 2 TSupolies Expense 1.08 Supplies 1,082 3 (a) Depreciation Expense Accumulated Deprediation Desreciation Expense s Reserved.Div nion of udy&Practice Expense 1,082 1,082 A-reciation Expense Expense Assig pmen Accumulated Depreclation-Equipment Accounts Payable Open Assignment Cash ignment 2,875 Supplies Land Assig pmen Accumulated Depreclation-Equipment Accounts Payable gnment Interest Payable Common Stock Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Prepare an adjusted trial balance on May 31. SOLO HOTEL Adjusted Trial Balance May 31, 2014 Debit Credit Cash Suppies Prepald T Insurancse Buidegs 12 Depreciaticn ccuulated Depredation onts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Expense Salaries and Wages Expen Utlities Expense Expense Interest Expense Depreciation Expense Buil epreciation Expense Equ Expense ent For the Month Ended May 31, 2014 Rent Revenue Total Expenses ing satement for the month of May Plant and Equipn Gradebook ORION Balance Sheet May 31, 2014 nt Current Assets Cash Sats IoAt Rights Reserved A Dvision of PLUS Kimmel, Financial Accounting, 7e , Shudy & Practice Gradebook ORION Open Rssigsment