CORRECT ANSWER

Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August Prepsid insurance Supplies Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends Rent Revenue Salaries and Wages Expense Utilities Expenses Maintenance and Ropairs Expense 8,100 6,200 24,000 124,000 20,000 $8,100 8,200 64,000 107,600 0 5.000 80,200 44,800 9,200 $268.1003.600 $268,100 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1.2025. 2. An imventory count on August 31 shows $471 of supplies on hand. 3. Annual depreciation rates are (a) buildings ( 4% ) and (b) equipment (10\%), Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $3,916 was earned prior to August 31 . 5. Salaries of $383 were unpaid at August 31. 6. Rentals of $757 were due from tenants at August 31. 7. The mortgage interest rate is 8% per year. n 2 of 5 Pregaid thaurice Aug. Sopplies Expensm 31 - 5729 Eupolies, Aug. Besreclaluan Expense 4464 31 Acrumulated Depreciation-Builings (b) Aug. Derricution Erpense 720 Acrumulated Depreciation Equipment Rect Resvanais. Aug. Siliesare Wayce Eanene 31 Sise (6. Aug. Accounts freceivable 757 Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August Prepsid insurance Supplies Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends Rent Revenue Salaries and Wages Expense Utilities Expenses Maintenance and Ropairs Expense 8,100 6,200 24,000 124,000 20,000 $8,100 8,200 64,000 107,600 0 5.000 80,200 44,800 9,200 $268.1003.600 $268,100 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1.2025. 2. An imventory count on August 31 shows $471 of supplies on hand. 3. Annual depreciation rates are (a) buildings ( 4% ) and (b) equipment (10\%), Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $3,916 was earned prior to August 31 . 5. Salaries of $383 were unpaid at August 31. 6. Rentals of $757 were due from tenants at August 31. 7. The mortgage interest rate is 8% per year. n 2 of 5 Pregaid thaurice Aug. Sopplies Expensm 31 - 5729 Eupolies, Aug. Besreclaluan Expense 4464 31 Acrumulated Depreciation-Builings (b) Aug. Derricution Erpense 720 Acrumulated Depreciation Equipment Rect Resvanais. Aug. Siliesare Wayce Eanene 31 Sise (6. Aug. Accounts freceivable 757