3-2A (Part Level Submission)

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

Lazy River Resort, Inc.

Trial Balance

August 31, 2014

Account Number

Debit

Credit

101Cash$19,831126Supplies3,234130Prepaid Insurance4,260140Land28,806143Buildings129,905157Equipment24,575201Accounts Payable$6,689208Unearned Rent Revenue7,397275Mortgage Payable80,000311Common Stock103,914332Dividends4,957429Rent Revenue82,414622Maintenance and Repairs Expense3,766726Salaries and Wages Expense51,624732Utilities Expense9,456$280,414$280,414

In addition to those accounts listed on the trial balance, the chart of accounts for Lazy River Resort also contains the following accounts and account numbers: No. 112 Accounts Receivable, No. 144 Accumulated DepreciationBuildings, No. 158 Accumulated DepreciationEquipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 718 Interest Expense, and No. 722 Insurance Expense.

Other data:

1.Insurance expires at the rate of $284per month.2.A count on August 31 shows $801of supplies on hand.3.Annual depreciation is $5,684on buildings and $2,612on equipment.4.Unearned rent revenue of $4,915was recognized for services performed prior to August 31.5.Salaries of $422were unpaid at August 31.6.Rentals of $3,868were 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)

Your answer is partially correct.Try again.Journalize the adjusting entries on August 31 for the 3-month period June 1August 31.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.

Date

Account Titles and Explanation

Debit

Credit

1.Aug. 31

2.Aug. 31

3.Aug. 31

NEED HELP FIGURING OUT TO 3. DEPRECIATION EXPENSE, ACCUMULATED DEPRECIATION-BUILDINGS, ACCUMULATED DEPRECIATION-EQUIPMENT