Prepare an Income Statement for the month of May 31. E: Prepare a Retained Earning Statement for the month May 31 F: Prepare a Balance Sheet at May 31.

The Skyline Motel opned for business on May 1, 2017. It’s Trial Balance before adjustment on May 31 is as follows: Skyline Motel Trial Balance May 31, 2017 Account

Number Debit Credit 101 Cash 3600 126 Supplies 2150 130 Prepaid Insuranc 1800 140 Land 15000 141 Buildings

61200 149 Equiptment 16600 201 Accounts Payable 11000 208 Unearned Rent Revenue 3200 275 Mortgage Payable 40000 311 Common

Stock 35300 429 Rent Revenue 14600 610 Advertising Expense 550 726 Salaries and Wages 3300 732 Utilities Expens 900 104100

104100 In addition to those accounts listed on the trial balance, the chart of accounts for Skyline Motel also contains the following accounts and account numbers: No.

142 Accumulated Depreciation—Buildings, No. 150 Accumulated Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation

Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other Data: 1. Prepaid insurance is a 1-year policy starting May 1, 2017.

2. A count of supplies shows $700 of unused supplies on May 31. 3. Annual depreciation is $3,060 on the buildings and $1,560 on equipment. 4. The mortgage

interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $800 are accrued and unpaid

at May 31. A: Journalize the adjusting Entries on May 31. (Round answers to 0 decimal places) B: Prepare a Ledger using the three -column form of account. Enter the

trial balance amounts into the balance column and then post the adjusting entries. C: Prepare an Adjusted Trial Balance on May 31 D: Prepare an Income Statement for

the month of May 31. E: Prepare a Retained Earning Statement for the month May 31 F: Prepare a Balance Sheet at May 31.

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