Fin 534 unit 4 | Business & Finance homework help

Melton River resort opened for business on June 1 with eight air conditioned units. Its trial balance before adjustment on August 31 was as follows:


Account number

101 cash debited 19,600

126 supplies debited 3,300

130 prepaid insurance debited 6,000

140 land debited 25,000

143 buildings debited 125,000

149 equipment debited 26,000

201 Accounts payable credited 6,500

208 unearned rent revenue credited 7,400

275 mortgage payable credited 80,000

301 Owners Capital debited 100,000

306 Owners Drawings debited 5,000

429 Rent Revenue 80,000 credited

622 Maintenance and Repairs expense debited 3,600

726 Salaries and Wages Expense debited 51,000

732 Utilities Expense debited 9,400


In addition to those accounts listed on the trial balance, the chart of accounts for Melton River Resort alos contain the following accounts and account numbers: Number 112 for Accounts receivable, NO 144 accumulated Depreciation- buildings, NO 150 Accumulated Depreciation -Equipment, NO 212 Salaries and Wages Payable, NO 230 interest payable, NO 620 Depreciation Expenses, NO 631 Supplies Expense, NO 718 Interest expense, and NO 722 Insurance Expense


Insurance expires at the rate of $300 a month

A Physical count on August 31 shows $800 of supplies on hand

Annual depreciation is $6,000 on buildings and $2,400 on equipment

Unearned rent revenue of 48,000 was earned proir to August 31

Salaries of $ 400 were unpaid at August 31

Rentals of $4000 were due from tenants at August 31 (Use accounts receivable)

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


Journalize the adjusting entried on August 31 for the 3 month period June 1 August 31


Prepare a ledger using the three columns for of account. Enter the trial balance moments and post the adjusting books


Prepare an adjusted trial balance on August 31



Prepare an income statement and an owner’s equity statements for the 3 months ending in the August 31.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more