The Sheridan Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31.

The Sheridan Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31 SHERIDAN HOTEL Trial Balance May 31,2022 Credit Debit $2,573 Cash Supplies 2,600 Prepaid Insurance 1,800 Land 15,073 Buildings 67,600 16,800 Equipment $4,773 Accounts Payable Unearned Rent Revenue 3,300 33,600 Mortgage Payable Common Stock 60,073 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 A duorticing Evnonco 500 Advertising Expense 500 $110,746 $110,746 Other data: Insurance expires at the rate of $450 per month. 1. A count of supplies shows $1,050 of unused supplies on May 31 2. (a) Annual depreciation is $3,840 on the building. 3. (b) Annual depreciation is $3,240 on equipment The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 4. Unearned rent of $2,500 has been earned 5. Salaries of $890 are accrued and unpaid at May 31 6. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually,) Account Titles and Explanation No. Debit Credit 1. 2. 3 (). 3 (b) 4. 5. 6. LO Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash Supplies Prepaid Insurance Land Building Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Interest Expense Insurance Expense Supplies Expense Depreciation Expense Prepare an adjusted trial balance on May 31 SHERIDAN HOTEL Adjusted Trial Balance Debit Credit $ $ $ $ Prepare an income statement for the month of May. SHERIDAN HOTEL Income Statement $ $ $ eTextbook and Media List of Accounts Prepare a retained earnings statement for the month of May. SHERIDAN HOTEL Retained Earnings Statement $ $ eTextbook and Media List of Accounts Prepare a retained earnings statement for the month of May. SHERIDAN HOTEL Retained Earnings Statement $ SHERIDAN HOTEL Retained Earnings Statement eTextbook and Media List of Accounts Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) SHERIDAN HOTEL Balance Sheet Assets $ Liabilities and Stockholders' Equity $ $ $ $ $ Insurance Expense Supplies Expense Depreciation Expense