The Solo Hotel opened for business on May 1, 2014. Here is its trial balance before adjustment on May 31.

SOLO HOTEL Trial Balance May 31, 2014
		Debit		Credit
Cash		$ 2,791
Supplies		2,600
Prepaid Insurance		1,800
Land		15,291
Buildings		73,600
Equipment		16,800
Accounts Payable				$ 4,991
Unearned Rent Revenue				3,300
Mortgage Payable				39,600
Common Stock				60,291
Rent Revenue				9,000
Salaries and Wages Expense		3,000
Utilities Expense		800
Advertising Expense		500
		$117,182		$117,182

Other data:

	1. Insurance expires at the rate of $360 per month.
2.		A count of supplies shows $1,121 of unused supplies on May 31.
3.		(a) Annual depreciation is $3,720 on the building.
		(b) Annual depreciation is $3,600 on equipment.
4.		The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)
5.		Unearned rent of $2,596 has been earned.
6.		Salaries of $748 are accrued and unpaid at May 31.

1.Journalize the adjusting entries on May 31.

2.Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries.

3.Prepare an adjusted trial balance on May 31.

4.Prepare an income statement for the month of May.

5.Prepare a retained earnings statement for the month of May.

6.Prepare a classified balance sheet at May 31