Question

4-7 & 4-8

Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal.

Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances, nd place a check mark in the posting reference column.

Prepare an adjusting trial balance at June 30th, 2008.

(b) The accounts before adjustment vl 7 Spring River Resort Inc. opened for business on June 1 with eight all-con units ts trial balance before adjustment on August 31 is as follows. SPRING RIVER RESORT INC. Trial Balance August 31, 2008 Account Debit Credit Number 101 126 130 Cash Supplies Prepaid Insurance $19,600 3,300 6,000

Answer 1

Answer:

Date	Account Titles and Explanation	Debit	Credit
Aug. 31	Insurance Expense ($400 X 3)	1200
	Prepaid Insurance		1200
Aug. 31	Supplies Expense ($3,300 – $900)	2400
	Supplies		2400
Aug. 31	Depreciation Expense—Cottages (3600) X 1/4)	900
	Accumulated Depreciation—		900
Aug. 31	Depreciation Expense—Furniture ($2,400 X 1/4)	600
	Accumulated Depreciation—Furniture		600
Aug. 31	Unearned Rent	4100
	Rent Revenue		4100
Aug. 31	Salaries Expense	400
	Salaries Payable		400
Aug. 31	Accounts Receivable	800
	Rent Revenue		800
Aug. 31	Interest Expense  [($80,000 X 9%) X 1/12]	600
	Interest Payable		600

Note:

AS this question has more than one question so as per guide line I have answered the first question