View Policies Current Attempt in Progress The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2.263 Supplies 2,600 Prepaid Insurance 1,800 Land 14,763 Buildings 70,000 Equipment 16,800 Accounts Payable $4,463 Unearned Rent Revenue 3,300 Mortgage Payable 36,000 Common Stock 59.763 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $112,526 $112.526 Other data: 1 Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,120 of unused supplies on May 31 3 (a) Annual depreciation is $2.880 on the building (b) Annual depreciation is $2.280 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1) 5. Unearned rent of $2,680 has been earned 6. Salaries of $650 are accrued and unpaid at May 31