The Pharoah Hotel opened for business on May 1, 2022. The May transactions resulted in a tabular summary, with May 31 unadjusted balances shown below in the first row. The $22,500 in the revenue column resulted from Rent Revenue. The $10,750 in the expense column includes Salaries and Wages $7,500, Utilities $2,000, and Advertising $1,250.

Find the adjusted balance for each column in the tabular summary. Prove that the expanded accounting equation balances.

Assets		=		Liabilities				Stockholders' Equity
$		=				+ OR -		$

Record adjustments on May 31 that reflect the following data include explanations for each adjustment to revenue or expense (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced) 1. 2. 3 Insurance expires at the rate of $1.125 per month, A count of supplies shows $2.625 of unused supplies on May 31 (a) Annual depreciation is $9.000 on the building (b) Annual depreciation is $7,500 on equipment The mortgage interest rate is 6%. (The mortgage was taken out on May 1) Rental services related to unearned rent of $6.250 have been provided. Salaries of $2.250 are accrued and unpaid at May 31 4. 5. 6. Acc Depr. Equip Accts Pay. Int. Pay Record adjustments on May 31 that reflect the following data include explanations for each adjustment to revenue or expense (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced) 1. 2. 3 Insurance expires at the rate of $1.125 per month, A count of supplies shows $2.625 of unused supplies on May 31 (a) Annual depreciation is $9.000 on the building (b) Annual depreciation is $7,500 on equipment The mortgage interest rate is 6%. (The mortgage was taken out on May 1) Rental services related to unearned rent of $6.250 have been provided. Salaries of $2.250 are accrued and unpaid at May 31 4. 5. 6. Acc Depr. Equip Accts Pay. Int. Pay