Exercise 3-10 Skysong Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit SKYSONG RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Cash $21,400 Prepaid Insurance 6,300 Supplies 4,400 Land 22,000 Buildings 122,000 Equipment 18,000 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends 5,000 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $256,700 $6,300 6,400 62,000 94,800 9,000 78,200 $256,700 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2020. 2. An inventory count on August 31 shows $429 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 $3,524 was earned prior to August 31. 5. Salaries of $343 were unpaid at August 31. 6. Rentals of $782 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year. Prepare an adjusted trial balance on August 31. SKYSONG RESORT Adjusted Trial Balance Debit Credit Totals List of Accounts Exercise 3-10 Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Common Stock Cost of Goods Sold Current Maturity of Long-Term Debt Delivery Expense Depreciation Expense Dividends Dues Revenue Equipment Green Fees Revenue Income Summary Income Tax Expense Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Capital Owner's Drawings Prepaid Advertising Prepaid Insurance Prepaid Rent Property Tax Expense Property Tax Payable Rent Expense Rent Receivable Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Service Revenue Supplies Supplies Expenses Telephone and Internet Expense Utilities Expenses Unearned Admissions Revenue Unearned Dues Revenue Unearned Service Revenue Unearned Rent Revenue