P4-3A Moto Hotel problems: a, b, c, d, and e

c) Tot. trial balance $45,310 (c) Prepare an adjusted trial balance at June 30, 2017 P4-3A The Moto Hotel opened for business on May 1, 2017. Here is its trial halance before adjustment on May 31 Prepure adjeasting entries, adjiusted tral balance, and inaricial starements. 0 2.1.4. AP MOTO HOTEL Trial Balance May 31, 2017 GLS Debit Credit 2,500 2,600 1,800 15,000 Prepaid Insurance Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense 4,700 3,300 36,000 60,000 9,000 500 113,000 113,000 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows S1,050 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 vas 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 (a) Journalize the adjusting entries on May 31 (c) Rent revenue $11,500 (b) Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjust- Tot. adj. trial ing entries. balance 114,630 () Prepare an adjusted trial balance on May 31 (d) Net income $3,570 (d) Prepare an income statement and a retained earnings statement for the month of May and a classified balance sheet at May 31 Pepare anjuasting saries ande) Identify which accounts should be closed on May 31. inaracial statements; identiy P4-4A Salt Creek Golf Inc. was organized on July 1, 2017. Ouarterly financial statements ccounts to be coed LO 2, 3,4, AP LS are prepared. The trial balance and adjusted trial balance on September 30 are shown on page 203 Problems: Set A 203 SALT CREEK GOLF INC