I need help with this problem for my accounting class. Here is it.

This is the trial balance of SOLO HOTE on May 31, 2014

SOLO HOTE

Trial Balance

May 31, 2014

1. Insurance expires at the rate of $450 per month.

2. A count of supplies shows $1,050 of unused supplies on May 31.

3. Annual depreciation is $3,600 on the building and $3,000 on equipment.

4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)

5. Unearned rent of $2,500 has been earned.

6. Salaries of $900 are accrued and unpaid at May 31.

Instructions

(a) Journalize the adjusting entries on May 31.

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

(c) Prepare an adjusted trial balance on May 31.

(c) Rent revenue

$11,500

Tot. adj. trial balance

$114,630

d) Prepare an income statement and a retained earnings statement for the month of May and a classified balance sheet at May 31.

(d) Net income $3,570

(e) Identify which accounts should be closed on May 31