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Accounting help

I have already done this assignment but want to check what I have with what you get to make sure that I am fully understanding this. Thank you so much for your help!!

P3-2A (Which consists of the following)

Neosho River Resort, Inc. opened for business on June 1 with eight air-conditioned

units. Its trial balance before adjustment on August 31 is as follows.


Trial Balance

August 31, 2008

Account Number Debit Credit

101 Cash $ 19,600

126 Supplies 3,300

130 Prepaid Insurance 6,000

140 Land 25,000

143 Cottages 125,000

149 Furniture 26,000

201 Accounts Payable $ 6,500

208 Unearned Rent 7,400

275 Mortgage Payable 80,000

311 Common Stock 100,000

332 Dividends 5,000

429 Rent Revenue 80,000

622 Repair Expense 3,600

726 Salaries Expense 51,000

732 Utilities Expense 9,400

$273,900 $273,900

In addition to those accounts listed on the trial balance, the chart
harmony harris: In addition to those accounts listed on the trial balance, the chart of accounts for Neosho River

Resort also contains the following accounts and account numbers: No. 112 Accounts Receivable,

No. 144 Accumulated Depreciation?Cottages, No. 150 Accumulated Depreciation?Furniture,

No. 212 Salaries Payable,No. 230 Interest Payable,No. 320 Retained Earnings,No. 620 Depreciation

Expense?Cottages, No. 621 Depreciation Expense?Furniture, No. 631 Supplies Expense,

No. 718 Interest Expense, and No. 722 Insurance Expense.

Other data:

1. Insurance expires at the rate of $400 per month.

2. A count on August 31 shows $600 of supplies on hand.

3. Annual depreciation is $6,000 on cottages and $2,400 on furniture.

4. Unearned rent of $4,100 was earned prior to August 31.

5. Salaries of $400 were unpaid at August 31.

6. Rentals of $1,000 were due from tenants at August 31. (Use Accounts Receivable.)

7. The mortgage interest rate is 9% per year. (The mortgage was taken out on August 1.)


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

(b) Prepare a ledger using the three-column form of account. Enter the trial balance amounts

and post the adjusting entries. (Use J1 as the posting reference.)

(c) Prepare an adjusted trial balance on August 31.

(d) Prepare an income statement and a retained earnings statement for the 3 months ending

August 31 and a balance sheet as of August 31.

(c) Adj. trial balance $278,000

(d) Net income $14,100 Ending retained earnings $9,100 Total assets $199,900