The Wildhorse Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31 WILDHORSE HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2,593 Supplies 2,600 Prepaid Insurance 1,800 Land 15,093 Buildings 71.200 Equipment 16,800 Accounts Payable $4793 Unearned Rent Revenue 3,300 Mortgage Payable Common Stock 37.200 60,093 9.000 Rent Revenue Salaries and Wages Expense Utilities Expense 3.000 800 500 $114.386 Advertising Expense $114386 Other data 1. Insurance expires at the rate of $450 per month San DE Utilities Expense Advertising Expense 500 $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 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1) 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 (F no entry is required, select "No Entry for the account the water for the amounts Credit around titles are automatically indented when the amount is entered. Do not inden manly) No. Account Titles and Explanation Credit arch ^ * som for the amounts C lit titles are automatically inde Journalize the adjusting entries on May 31. One entry is required, select "No Entry for the amount titles and entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit o Be wa ch Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journalen Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment arch Accumulated Depreciation Equipment Accounts Payable Uneamed Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock o Wa W@ Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense arch Insurance Expense Supplies Expense Depreciation Expense eTextbook and Media List of Accounts Prepare an adjusted trial balance on May 31 Prepare an adjusted trial balance on May 31 WILDHORSE HOTEL Adjusted Trial Balance Debit Credit Prepare an income statement for the month of May. WILDHORSE HOTEL Income Statement eTextbook and Media earch Prepare a retained earnings statement for the month of May. WILDHORSE HOTEL Retained Earnings Statement eTextbook and Media List of Accounts Prepare a classified balance sheet at May 31 (List current assets in order of liquidity List Property, Plant and Equipment WILDHORSE HOTEL Balance Sheet Assets Prepare a classified balance sheet at May 31 (List aurrent assets in order of liquidity. List Property Plant and Equipment in order of Land Buildings and Equipment) WILDHORSE HOTEL Balance Sheet Assets Liabilities and Stockholders'Equity e here to search 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 Insurance Expense Supplies Expense Depreciation Expense e to search