Exercise 3-10 Sarasota Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. SARASOTA RESORT TRIAL BALANCE AUGUST 31, 2017 Debit Credit Cash $20,200 Prepaid Insurance 5,100 Supplies 3,200 Land 24,000 Buildings 124,000 Equipment 20,000 Accounts Payable $5,100 Unearned Rent Revenue 5,200 Mortgage Payable 64,000 Common Stock 95,600 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 80,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 Totals $259,100 $259,100 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2017. 2. An inventory count on August 31 shows $444 of supplies on hand. 3. Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $4,016 was earned prior to August 31. 5. Salaries of $372 were unpaid at August 31. 6. Rentals of $864 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year. Journalize the adjusting entries on August 31 for the 3-month period June 1–August 31. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Aug. 31 2. Aug. 31 3. (a) Aug. 31 3. (b) Aug. 31 4. Aug. 31 5. Aug. 31 6. Aug. 31 7. Aug. 31 Show List of Accounts Link to Text Prepare an adjusted trial balance on August 31. SARASOTA RESORT Adjusted Trial Balance August 31, 2017 Debit Credit $ $ Totals $ $
Exercise 3-10 Sarasota Resort opened for business on June 1 with eight air-conditioned units. Its trial...
Whispering Resort opened for business on June 1 with eight
air-conditioned units. Its trial balance on August 31 is as
follows.
WHISPERING RESORT
TRIAL BALANCE
AUGUST 31, 2020
Debit
Credit
Cash
$22,900
Prepaid Insurance
7,800
Supplies
5,900
Land
22,000
Buildings
122,000
Equipment
18,000
Accounts Payable
$7,800
Unearned Rent Revenue
7,900
Mortgage Payable
62,000
Common Stock
96,300
Retained Earnings
9,000
Dividends
5,000
Rent Revenue
78,200
Salaries and Wages Expense
44,800
Utilities Expenses
9,200
Maintenance and Repairs Expense
3,600
$261,200
$261,200
Other...
Splish Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. SPLISH RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Credit Cash $26,800 Prepaid Insurance 11,700 Supplies 9,800 Land 28,000 Buildings 128,000 Equipment 24,000 Accounts Payable $11,700 Unearned Rent Revenue 11,800 Mortgage Payable 68,000 Common Stock 106,200 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 84,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $290,900 $290,900 Other...
rses/25565/assignments/3777698 Bramble Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit BRAMBLE RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Cash $23,800 Prepaid Insurance 8,700 Supplies 6,800 Land 28,000 Buildings 128,000 Equipment 24,000 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends 5,000 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $281,900 $8,700 8,800 68,000 103,200 9,000 84,200 $281,900...
Exercise 3-10 Oriole Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit ORIOLE RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Cash $25,600 Prepaid Insurance 10,500 Supplies 8,600 Land 30,000 Buildings 130,000 Equipment 26,000 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends 5,000 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $293,300 $10,500 10,600 70,000 107,000 9,000 86,200...
Sheridan Resort opened for business on June 1 with eight
air-conditioned units. Its trial balance on August 31 is as
follows.
SHERIDAN RESORT
TRIAL BALANCE
AUGUST 31, 2020
Debit
Credit
Cash
$21,700
Prepaid Insurance
6,600
Supplies
4,700
Land
24,000
Buildings
124,000
Equipment
20,000
Accounts Payable
$6,600
Unearned Rent Revenue
6,700
Mortgage Payable
64,000
Common Stock
97,100
Retained Earnings
9,000
Dividends
5,000
Rent Revenue
80,200
Salaries and Wages Expense
44,800
Utilities Expenses
9,200
Maintenance and Repairs Expense
3,600
$263,600
$263,600
Other...
Sheridan Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. SHERIDAN RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Credit Cash $21,700 Prepaid Insurance 6,600 Supplies 4,700 Land 24,000 Buildings 124,000 Equipment 20,000 Accounts Payable $6,600 Unearned Rent Revenue 6,700 Mortgage Payable 64,000 Common Stock 97,100 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 80,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $263,600 $263,600 Other...
1.
Gonzalez Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows Gonzalez Resort Trial Balance August 31, 2017 Debit Credit $1,960 Prepaid Insurance Supplıes Buildıngs Equipment 2,000 12,000 1,600 Accounts $450 Payable Unearned Rent Revenue Mortgage Payable Common Stock 6,000 9,100 890 Retaned Earnıngs Dividends 500 4,48 920 7,620 Revenue Salaries and Wages Expense Utilities Expense Maintenance and Repairs $24,520 24,520 Other data: 1 The balance in prepaid insurance...
Exercise 3-10 (Part Level Submission) Skysong Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit SKYSONG RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Cash $21,400 Prepaid Insurance 6,300 Supplies 4,400 Land 22,000 Buildings 122,000 Equipment 18,000 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends 5,000 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $256,700 $6,300 6,400 62,000...
P3-2B Maquoketa River Resort opened for business on June 1 with eight air- conditioned units.Its trial belance before adjustment on August 31 is as follows MAQUOKETA RIVER RESORT Trial Balance August 31, 2019 $ 19,600 3,300 6,000 101 126 130 140 141 Prepaid Insurance Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock 6,500 7,400 80,000 100,000 201 311 80,000 Rent Revenue Maintenance and Repairs Salaries and Wages Expense Utilities Expense 51,000 9,.400 732 $273.900 $273.900 In addition to those...
2. (Adjusting Entries) Greco Resort opened for business on June I with eight air-conditioned units Its trial balance on August 31 is as follows. (10 points) Greco Resort Trial Balance August 31, 2020 Debit Credit Cash $ 19,600 Prepaid Insurance 4,500 Supplies 2.600 Land 20.000 Buildings 120,000 Equipment 16,000 Accounts Payable $ 4,500 Uncanned Rent Revenue 4,600 Mortgage Payable 60,000 Common Stock 91.000 Retained Earings 9,000 Dividends 5,000 Rent Revenue 76,200 Salaries and Wages Expense 44.800 Utilities Expenses 9,200 Maintenance...