UHURA RESORT TRIAL BALANCE

Exercise 3-10

Uhura Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows.

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

Other data:

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.

Warning

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(a)

Journalize the adjusting entries on August 31 for the 3-month period June 1–August 31. (Round answers to 0 decimal places, e.g. 5,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
1.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
2.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
3 (a)	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
3 (b)	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
4.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
5.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
6.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
7.	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]

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UHURA RESORT TRIAL BALANCE

ACC - Uhura Resort