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 $ 2,593 Supplies 2,600 Prepaid Insurance 1,800 Land 15,093 Buildings 71,200 Equipment 16,800 Accounts Payable $ 4,793 Unearned Rent Revenue 3.300 Mortgage Payable 37,200 Common Stock 60,093 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 C 114 206 114.2024 UrgageradUIC UP Common Stock 60,093 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $ 114,386 $ 114,386 $ 114,386 Other data: 1. Insurance expires at the rate of $ 450 per month. 2 A count of supplies shows $ 1.180 of unused supplies on May 31. 3. (a) Annual depreciation is $3.960 on the building. (b) Annual depreciation is $3,360 on equipment. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 4. 5. Unearned rent of $ 2,660 has been earned. 6. Salaries of $ 740 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 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. Insurance Expense 450 Prepaid Insurance 450 2. Supplies Expense 1420 Supplies 1420 3 (a). Depreciation Expense 330 Accumulated Depreciation-Buildings 330 3 (b). Depreciation Expense 280 Accumulated Depreciation Equipment 280 4. Interest Expense 155 Interest Payable 155 5. Unearned Rent Revenue 2660 Rent Revenue 2660 6. Salaries and Wages Expense 740 3 (b). Depreciation Expense 280 Accumulated Depreciation Equipment 280 4. Interest Expense 155 Interest Payable 155 Unearned Rent Revenue 2660 Rent Revenue 2660 6. Salaries and Wages Expense 740 Salaries and Wages Payable 740 e Textbook and Media List of Accounts Your answer is partially correct. 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 5/1 450 Supplies 5/1 2600 5/31 1420 5/31 Bal. V 1180 Prepaid Insurance 5/1 1800 5/31 450 5/31 Bal. 1350 Land 5/1 15093 Building 5/1 71200 Accumulated Depreciation-Building 5/31 330 5/31 Bal. 330 Equipment 5/1 16800 Accumulated Depreciation Equipment 5/31 280 5/31 Bal. 280 Accounts Payable 5/1 4793 5/1 4793 Unearned Rent Revenue 5/1 2660 5/31 3300 5/31 Bal. 640 Salaries and Wages Payable 5/1 5/31 Bal Interest Payable 5/1 5/31 Bal. Mortgage Payable Common Stock Rent Revenue 5/1 5/31 5/31 Bal. Salaries and Wages Expense 57 5/31 5/31 Bal Salaries and Wages Expense 5/1 5/31 5/31 Bal. Utilities Expense Advertising Expense Interest Expense 5/31 > 5/31 Bal. Insurance Expense 5/1 5/31 Bal. Supplies Expense UD 5/31 5/31 Bal Insurance Expense 5/1 5/31 Bal Supplies Expense 5/1 5/31 Bal. Depreciation Expense 5/1 5/31 5/31 Bal. e Textbook and Media MOTO HOTEL Adjusted Trial Balance May 31, 2017 Debit Credit Cash Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings LEBIH DIMA Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue - Accumulated Depreciation Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Interest Payable Salaries and Wages Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Insurance Expense Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Insurance Expense Supplies Expense Interest Expense Depreciation Expense $ $ MOTO HOTEL Income Statement For the Month Ended May 31, 2017 Revenues Rent Revenue $ Expenses Salaries and Wages Expense Utilities Expense Advertising Expense Insurance Expense Supplies Expense Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Total Expenses MOTO HOTEL Income Statement For the Month Ended May 31, 2017 Revenues Rent Revenue $ Expenses Salaries and Wages Expense $ Utilities Expense Advertising Expense Insurance Expense Supplies Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Total Expenses Net Income /(Loss) $ Prepare a tained earnings statement for the month of May. MOTO HOTEL Retained Earnings Statement For the Month Ended May 31, 2017 Retained Eamings, May 1 $ Add Net Income / (Loss) Buildings > Equipment Accounts Payable > Unearned Rent Revenue Interest Expense v Insurance Expense > Supplies Expense Depreciation Expense