The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.

MOTO HOTEL Trial Balance May 31, 2017
		Debit			Credit
Cash		$ 2,313
Supplies		2,600
Prepaid Insurance		1,800
Land		14,813
Buildings		67,600
Equipment		16,800
Accounts Payable					$ 4,513
Unearned Rent Revenue					3,300
Mortgage Payable					33,600
Common Stock					59,813
Rent Revenue					9,000
Salaries and Wages Expense		3,000
Utilities Expense		800
Advertising Expense		500
		$110,226			$110,226

Other data:

1.		Insurance expires at the rate of $360 per month.
2.		A count of supplies shows $1,200 of unused supplies on May 31.
3.		(a) Annual depreciation is $3,000 on the building.
		(b) Annual depreciation is $2,400 on equipment.
4.		The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)
5.		Unearned rent of $2,650 has been earned.
6.		Salaries of $690 are accrued and unpaid at May 31.

Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3 (a). 3 (b). 4. 5. 6. Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Prepare an adjusted trial balance on May 31. MOTO HOTEL Adjusted Trial Balance Debit Credit $ $ Prepare an income statement for the month of May. MOTO HOTEL Income Statement $ $ $ Prepare a retained earnings statement for the month of May. MOTO HOTEL Retained Earnings Statement $ v $ Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) MOTO HOTEL Balance Sheet Assets $ Liabilities and Stockholders' Equity $ $ $ Identify which accounts should be closed on May 31. 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 Interest Expense Depreciation Expense