Problem 4-3a the moto hotel opened for business on may 1, 2017. Here is its trial balance before adjustment on may 31. Moto hotel trial balance may 31, 2017 debit credit cash $ 2,613 supplies 2,600 prepaid insurance 1,800 land 15,113 buildings 70,000 equipment 16,800 accounts payable $ 4,813 unearned rent revenue 3,300 mortgage payable 36,000 common stock 60,113 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $113,226 $113,226 other dа ta: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,180 of unused supplies on may 31. 3. (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. Unearned rent of $2,670 has been earned. 6. Salaries of $710 are accrued and unpaid at may 31.
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