275 Mortgage Payable 80,000 311 Common Stock 100,000 332 Dividends 5,000 429 Rent Revenue 80,000 622 Maintenance \& Repairs Expense 3,600 726 Salaries and Wages Expense 51,000 732 Utilities Expense 9,400 $273,900$273,900 212230275305307311Stock332429619622631718722726SalariesandWagesPayableInterestPayableMortgagePayableRetainedEarningsIncomeSummaryCommonDividendsRentRevenueDepreciationExpenseMaintenanceandRepairsExpenseSuppliesExpenseInterestExpenseInsuranceExpenseSalariesandWages Instructions: (a)Open up accounts in the General Ledger for each account and enter any beginning balances from the Trial Balance. (b) Journalize and post the adjusting entries on August 31 for the 3-month period June 1August 31. (c) Prepare an adjusted trial balance on August 31. (d) Prepare an Income Statement, Retained Earnings Statement and classified Balance Sheet. (e) Journalize and post the required closing entries. (f) Prepare a Post-Closing Trial Balance. Dther data: 1. Insurance expires at the rate of $300 per month. 2. A count on August 31 shows $800 of supplies on hand. 3. Annual depreciation is $6,000 on buildings and $2,400 on equipment. 4. Unearned rent revenue of $4,800 has been earned. 5. Salaries of $400 were unpaid at August 31. 6. Rentals of $4,000 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.) Expense 732 Utilities Expense CHART OF ACCOUNTS Account Number Debit Credit 10119,6001263,3001306,00014025,000141125,00014926,000201CashSuppliesPrepaidInsuranceLandBuildingsEquipmentAccountsPayable$6,500 208 Unearned Rent Revenue 7,400 275 Mortgage Payable 80,000 311 Common Stock 100,000 332 Dividends 5,000 429 Rent Revenue 80,000 622 Maintenance \& Repairs Expense 3,600 726 Salaries and Wages Expense 51,000 732 Utilities Expense 9,400 $273,900$273,900 212230275305307311Stock332429619622631718722726SalariesandWagesPayableInterestPayableMortgagePayableRetainedEarningsIncomeSummaryCommonDividendsRentRevenueDepreciationExpenseMaintenanceandRepairsExpenseSuppliesExpenseInterestExpenseInsuranceExpenseSalariesandWages Instructions: (a)Open up accounts in the General Ledger for each account and enter any beginning balances from the Trial Balance. (b) Journalize and post the adjusting entries on August 31 for the 3-month period June 1August 31. (c) Prepare an adjusted trial balance on August 31. (d) Prepare an Income Statement, Retained Earnings Statement and classified Balance Sheet. (e) Journalize and post the required closing entries. (f) Prepare a Post-Closing Trial Balance. Dther data: 1. Insurance expires at the rate of $300 per month. 2. A count on August 31 shows $800 of supplies on hand. 3. Annual depreciation is $6,000 on buildings and $2,400 on equipment. 4. Unearned rent revenue of $4,800 has been earned. 5. Salaries of $400 were unpaid at August 31. 6. Rentals of $4,000 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.) Expense 732 Utilities Expense CHART OF ACCOUNTS Account Number Debit Credit 10119,6001263,3001306,00014025,000141125,00014926,000201CashSuppliesPrepaidInsuranceLandBuildingsEquipmentAccountsPayable$6,500 208 Unearned Rent Revenue 7,400