You have to select a partner from the class, and each team only has one opportunity to submit the homework through blackboard in pdf format using safe-assign.

Journalize the adjusting entries on May 31.

Prepare a ledger using T-accounts. Enter the trial balance amounts and post the

adjusting entries.

Prepare an adjusted trial balance on May 31.

Prepare an income statement and a retained earnings statement for the month of May

and a classified balance sheet on May 31.

Identify which accounts should be closed on May 31.

Value points: (5 pts.)

The due date is on Saturday at 11:59 PM by the end of the fifth week of classes.

P4-3A The Solo Hotel opened for business on May 1, 2014. Here is its trial balance before adjustment on May 31. Figure 21: Problem 4-3A. Kieso, D. E., Kimmel, P.D., \& Weygandt, J.J. (2013) Other data: 1. The 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