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Current Attempt in Progress The Cullumber Hotel opened for business on May 1, 2017. The May transactions resulted in a tabular summary with May 31 unadjusted balances shown below in the first row. The $9.000 in the revenue column resulted from Rent Revenue. The $4,300 in the expense column includes Salaries and Wages $3,000. Utilities $800, and Advertising $500. Assets . Prepd. Insur. Acc. Depr: Equip. + + Cash Bal. 2.233 + Depr.- Bldgs. + 0 + Supplies + 2,600 Land 14.733 + Bldgs. 67,600 Accts. Pay. 4.433 Equip. 16.800 Int. Pay 0 + 1.800 + + + + Record adjustments on May 31 that reflect the following data. Include explanations for each adjustment to revenue or expense. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Insurance expires at the rate of $450 per month. A count of supplies shows $1,050 of unused supplies on May 31. (a) Annual depreciation is $2.760 on the building. (b) Annual depreciation is $2,160 on equipment 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Rental services related to unearned rent of $2,500 have been provided. 6. Salaries of $820 are accrued and unpaid at May 31. 1. 2. 3. Prepd. Insur. Cash Supplies + Land Bal 2,233 2.600 1.800 14. Adj. 1. Adj. 2. Adj. 3a. Adj. 3b. Adj. 4. Adj. 5. Adj. 6. Adj. Bal. Find the adjusted balance for each column in the tabular summary. Prove that the expanded accounting equation balances. Assets Liabilities Stockholders' Equity $ $ e Textbook and Media List of Accounts Prepare an income statement for the month of May. Cullumber Hotel Income Statement $ > > > >