Question: Please fix the red boxes The Oriole Hotel opened for business on May 1, 2022 Here is its trial balance before adjustment on May 31


The Oriole Hotel opened for business on May 1, 2022 Here is its trial balance before adjustment on May 31 ORIOLE HOTEL Trial Balance May 31, 2022 Debit Credit Cash $ 2.263 Supplies 2.600 Prepaid Insurance 1800 Land 14.763 Buildings 67.600 Equipment 16.800 Accounts Payable 54.463 Unearned Rent Revenue 3.300 Mortgage Payable 33.600 Common Stock 59.763 Rent Revenue 9.000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110.126 $110.126 Other data: 1 2. 3. Insurance expires at the rate of $300 per month. A count of supplies shows $1.070 of unused supplies on May 31 (a) Annual depreciation is $2.880 on the building (b) Annual depreciation is $2.280 on equipment The mortgage interest rate is 5%. (The mortgage was taken out on May 1) 4 . 5. Unearned rent of $2,690 has been earned 6. Salaries of $690 are accrued and unpaid at May 31 Prepare an adjusted trial balance on May 31 ORIOLE HOTEL Adjusted Trial Balance For the Month Ended May 31, 2022 Debit Credit Cash 2333 Supplies 1070 Prepaid Insurance 1350 land 14833 Buildings 67600 Accumulated Depreciation-Buildings 290 Equipment 16800 270 Accumulated Depreciation Equipment 4533 Accounts Payable 670 Unearned Rent Revenue 730 Salaries and Wages Payable 140 Interest Payable 33600 Mortgage Payable 59833 Common Stock 11630 Rent Revenue Salaries and Wages Expense 3730 Utilities Expense 800 Advertising Expense 500 Interest Expense 140 Insurance Expense 450 Supplies Expense 1530 560 Depreciation Expense 111696 111696
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