melarcode :)

Question 1

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

Other data:

1.

The balance in prepaid insurance is a one-year premium paid on June 1, 2014.

2.

An inventory count on August 31 shows $686 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 $4,131 was earned prior to August 31.

5.

Salaries of $459 were unpaid at August 31.

6.

Rentals of $808 were due from tenants at August 31. (Use Accounts Receivable account.)

7.

The mortgage interest rate is 8% per year.

Journalize the adjusting entries on August 31 for the 3-month period June 1August 31.

Prepare an adjusted trial balance on August 31.

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Question 2

The trial balance of Blues Traveler Corporation does not balance.

An examination of the ledger shows these errors.

1.		Cash received from a customer on account was recorded (both debit and credit) as $1,640 instead of $2,090.
2.		The purchase on account of a computer costing $2,732 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3.		Services were performed on account for a client, $2,510, for which Accounts Receivable was debited $2,510 and Service Revenue was credited $485.
4.		A payment of $355 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5.		The Service Revenue account was totaled at $5,460 instead of $5,540.

From this information, prepare a corrected trial balance.

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melarcode could u please answer it?