SHERIDAN'S HOTEL Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $3,400 126 Supplies 2.150 130 Prepaid Insurance 2.400 140 Land 13.000 141 Buildings Equipment 59.000 15.000 149 201 Accounts Payable 200 $4,800 3.800 Uneared Rent Revenue 275 40,000 More Payable Owner's Capital 301 41.500 429 Rent Revenue 10.100 610 600 726 Advertising Expense Salaries and Wages Expense Utilities Expense 2200 732 950 $99.700 599.00 Adjusting entries Credit Ref. No. 1) Debit $200 $200 2) $1,350 51,350 3) $420 Date Account Titles and Explanation May 31 Insurance Expense Prepaid Insurance May 31 Supplies Expense Supplies May 31 Depreciation Expense Accumulated Depreciation - Building Accumulated Depreciation Equipment May 31 Interest Expense Interest Payable May 31 Unearned rent revenue Rent revenue May 31 Salaries Expense Salaries Pavable $295 $125 ) 4) $200 $200 5) $2,200 $2,200 6) $700 $700 Income Statement For the Month Ended May 31, 2020 Revenues Rent Revenue 12300 Expenses Salaries and Wages Expense 3900 i Advertising Expense 600 Salaries and Wages Payable 3.900 Utilities Expense 950 i Insurance Expense 200 i Supplies Expense 1350 i Depreciation Expense 420 Total Expenses 7620 i dom MARO Prepare an owner's equity statement for the month of May. SHERIDAN'S HOTEL Owner's Equity Statement For the Month Ended May 31, 2020 Owner's Capital. Mav 31 $ 41500 Add VI Net Income /(Loss) 6350 Total Expenses $ 47850