Question: All information has been provided , please help Question 5 of 5 4.11 /20 The Cullumber Hotel opened for business on May 1, 2022. Here



All information has been provided , please help




Question 5 of 5 4.11 /20 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 3; 2,343 Supplies 2,600 Prepaid Insurance 1,800 Land 14,843 Buildings 67,600 Equipment 16,800 Accounts Payable $ 4,543 Unearned Rent Revenue 3,300 Mortgage Payable 33,600 Common Stock 59,843 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,286 $110,286 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,120 on the building. (b) Annual depreciation is $2,520 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.} 5. Unearned rent of $2.530 has been earned. 6. Salaries of $810 are accrued and unpaid at May 31. Question 5 of 5 > 6.34 / 20 Prepare an income statement for the month of May. CULLUMBER HOTEL Income Statement V V 9.2 / 20 CULLUMBER HOTEL Income Statement Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained Earnings, May 1 $ Retained Earnings, May 31 Dividends(d2) Prepare a retained earnings statement for the month of May. CULLUMBER HOTEL Retained Earnings Statement Expenses Revenues Total Expenses Total Revenues Net Income I (Loss) Retained Earnings, May1 Retained Earnings, May 31 Dividends
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