Question

WATERWAY RESORT

TRIAL BALANCE

AUGUST 31, 2017

Debit

Credit

$297,800

$297,800

Other data:

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

Aug. 31

Aug. 31

Aug. 31

Aug. 31

Aug. 31

Aug. 31

Aug. 31

Aug. 31

WATERWAY RESORT

TRIAL BALANCE

AUGUST 31, 2017

 

 

Debit

 

Credit

Cash

 

$27,100

 

 

 

 

Prepaid Insurance

 

12,000

 

 

 

 

Supplies

 

10,100

 

 

 

 

Land

 

30,000

 

 

 

 

Buildings

 

130,000

 

 

 

 

Equipment

 

26,000

 

 

 

 

Accounts Payable

 

 

 

 

$12,000

 

Unearned Rent Revenue

 

 

 

 

12,100

 

Mortgage Payable

 

 

 

 

70,000

 

Common Stock

 

 

 

 

108,500

 

Retained Earnings

 

 

 

 

9,000

 

Dividends

 

5,000

 

 

 

 

Rent Revenue

 

 

 

 

86,200

 

Salaries and Wages Expense

 

44,800

 

 

 

 

Utilities Expenses

 

9,200

 

 

 

 

Maintenance and Repairs Expense

 

3,600

 

 

 

 

Totals

 

$297,800

 

 

$297,800

 

             

 



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