UHURA RESORT TRIAL BALANCE

UHURA RESORT
TRIAL BALANCE
AUGUST 31, 2012

Debit

Credit

Cash

$23,390

Prepaid Insurance

8,290

Supplies

6,390

Land

24,000

Buildings

124,000

Equipment

20,000

Accounts Payable

$8,290

Unearned Rent Revenue

8,390

Mortgage Payable

54,000

Common Stock

107,790

Dividends

5,000

Rent Revenue

90,200

Salaries and Wages Expense

44,800

Utilities Expenses

9,200

Maintenance and Repairs Expense

3,600

$268,670

$268,670

1.

The balance in prepaid insurance is a one-year premium paid on June 1, 2012.

2.

An inventory count on August 31 shows $713 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 $4,139 was earned prior to August 31.

5.

Salaries of $389 were unpaid at August 31.

6.

Rentals of $820 were due from tenants at August 31.

7.

The mortgage interest rate is 8% per year.

No.

Account Titles and Explanation

Debit

Credit

1.

2.

3 (a)

3 (b)

4.

5.

6.

7.