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The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31, CRANE HOTEL Trial Balance May

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The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31, CRANE HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,403 2,600 1,800 14.903 70,000 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 $4,603 3,300 36,000 59.903 9,000 3.00 800 500 $112.806 $112,806 Other data: 1 2 3 Insurance expires at the rate of $450 per month A count of supplies shows $1.160 of unused supplies on May 31 (a) Annual depreciation is $3,480 on the building (b) Annual depreciation is 52.880 on equipment The mortgage interest rate is 6%, (The mortgage was taken out on May 11 Unearned rent of $2.580 has been earned, Salaries of $760 are accrued and unpaidat May 31. 4 5. 6. Entry for the accountables and enter for the Journalire the adjusting entries on May 31. (no entry is required, select "No Entry for the account titles and enter for the amounts Credit account ties are automatically Indented when the amount is enterad. Do not indent manually No. Account Titles and Explanation Debit Credit 1 2 3 al 3 (b) 4 5. 6. e Textbook and Media List of Accounts MacBook Air Prepare a ledgerusing T-accounts. Enter the trial Balance outsid post the ting entries. Posterilen wonder Journal merles und in the und Cash Building v Accumulated Depreciation-Building > Equipment Accumulated Depreciation Equipment V ./1.5 CRANE HOTEL - / 1.5 e Textbook and Media List of Accounts Identity which accounts should be closed on May 31 Ch Supplies Prepaid insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenge MacBook Air MICIUSUI VUIU Question 2 of 3 75 Identity which should be closed on May 31. Cach Supplies Prepaid Insurance and Buildings

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