Question: can someone help me solving this accounting problem? Prepaid Insurance Supplies Buildings ] :ti$li. Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Dividends

can someone help me solving this accounting problem?

Prepaid Insurance Supplies Buildings ] :ti$li. Equipment Accounts Payable Unearned Rent Revenue

Prepaid Insurance Supplies Buildings ] :ti$li. Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Dividends Rent Revenue Salaries and Wages Expense Utilities Expense Maintenance and Repairs Expense $313.300 Other data: Debit s 24,600 5,400 4,300 40,000 132,000 36,000 5,000 53,000 9,400, 3,600 $413300 Credit s 6,500 6,800 120,000 100,000 80 ooo 1. Insurance expires at the rate of $450 per month. 2. A count of supplies pn August 31 shows $700 of supplies on hand. 3. Annual depreciation is S6,600 on buildings and $4,000 on equipment. 4. Unearned rent of $5,000 was earned prior to ugus! 5. Salaries of $600 were unpaid at August 6. Rentals of S 1 ,600 were due from tenants at August 31. (Use Accounts Receivable.) 7. The mortgage interest rate is pep yea!., The mortgage was taken out August l.) Instructions: (a) Journalize the adjusting entries on August 3 1, forthe a-month period June IAugust 31. (b) Prepare a ledger using T accounts, The opening trial balance amounts have been entered. Post the adjusting entries and find new account balances where appropriate. (c) Prepare an adjusted trial balance on August 31', (d) Prepare an income statement and a retained earnings statement for the quarter ended August 31 and a classified balance sheet as of August 31.1" (e) Identify which accounts should be, closed on August 311

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