Question: first half complete, need second question completed Oriole Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31




Oriole Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. 1. The balance in prepaid insurance is a one-year premium paid on June 1,2025. 2. An imventory count on August 31 shows $438 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 $3.866 was earned prior to August 31 . 5. Salaries of $357 were unpaid at August 31. 6. Rentals of $819 were due from tenants at August 31 . 7. The mortgage interest rate is 8% per year. (a) Your answer is carrect. Journalize the adjusting entries on August 31 for the 3 -month period June 1 -August 31 . (Round answers to the nearest whole dollar, es. 5,275. Do not round intermediate colculations. 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 tities and enter O for the amounts. List all debit entries before credit entries.) 1. 31 2. Aug. 31 8162 3. (a) Aug. 31 Depreciation Expense Accumulatod Depreciation buildings 1170 3. (b) Aug. Depreciation Expense Accumblated Depredation Fqulpment 5. Aug. 31 Satarins and Woises Eespense 6. Aus Accounts Receiveble Reat Rovinate 7. Aug: Prenare an adlusted trial balance on August 31. (Do not list those accounts that have zero ending balance.)
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