i attach files i need help no understanding

Instructions

• Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal.
• Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as be- ginning account balances and place a check mark in the posting reference column.

P3-2A Neosho River Resort opened for business on June 1 with eight air-conditioned units. Its trial balance before adjustment on August 31 is as follows.

Instructions Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. P3-2A Neosho River Resort opened for business on June 1 with eight air-conditioned units. Its trial balance before adjustment on August 31 is as follows. n 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 DepreciationCottages, No. 150 Accumulated DepreciationFurniture, No. 212 Salaries Payable, No. 230 Interest Payable, No. 620 Depreciation ExpenseCottages, No. 621 Depreciation ExpenseFurniture, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: Insurance expires at the rate of $400 per month. A count on August 31 shows $600 of supplies on hand. Annual depreciation is $6,000 on cottages and $2,400 on furniture. Unearned rent revenue of $4,100 was earned prior to August 31. Salaries of $400 were unpaid at August 31. Rentals of $1,000 were due from tenants at August 31. (Use Accounts Receivable.) The mortgage interest rate is 9% per year. (The mortgage was taken out on August 1.) Instructions Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31. Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (Use J1 as the posting reference.) Prepare an adjusted trial balance on August 31. Prepare an income statement and an owner's equity statement for the 3 months ending August 31 and a balance sheet as of August 31 ACCOUNTING 1 Accounting [Insert Name] [Institutional Affiliation] ACCOUNTING 2 Part A Date Account Titles Ref.no. Debit ($) Aug 31 Insurance Expense($400*3) Prepaid Insurance Supplies Expense($3,300-$600) Supplies Depreciation ExpenseCottages ($6,000*0.25) Accumulated Depreciation Cottages Depreciation ExpenseFurniture ($2,400*0.25) Accumulated Depreciation Furniture Unearned Rent Revenue Rent revenue Salaries Expense Salaries Payable Account Receivable Rent Receivable Interest Expense Interest Payable 1 [($80,000*9%)* 12 722 130 631 126 620 1,200 Credit ($) 31 31 31 31 31 31 31 144 621 150 209 429 726 212 112 429 718 1,200 2,700 2,700 1,500 1,500 600 600 4,100 4,100 400 400 1,000 1,000 600 230 600 Part B Cash Date Aug 31 Explanation Balance Account Receivable Date Explanation Aug 31 Adjusting Supplies Data Explanation Aug 31 Balance Ref Ref J1 Ref Debit Debit $1,000 Debit Credit No.101 Balance $19,600 Credit No.112 Balance $1,000 Credit No.126 Balance $3,300 ACCOUNTING 31 3 Adjusting Prepaid Insurance Date Explanation Aug 31 Balance Adjusting Land Date Explanation Aug 31 Balance J1 $2,700 Ref J1 Debit Ref Debit Credit $1,200 Credit Cottages Date Explanation Aug 31 Balance Ref Debit Credit Accumulated DepreciationCottages Date Explanation Aug 31 Adjusting Ref J1 Debit Credit $1,500 Furniture Date Explanation Aug 31 Balance Ref Debit Credit Accumulated DepreciationFurniture Date Explanation Aug 31 Adjusting Ref J1 Debit Credit $600 Accounts Payable Date Explanation Aug 31 Balance Ref Debit Credit Unearned Rent Revenue Date Explanation Aug 31 Balance 31 Adjusting Ref J1 Debit Credit Salaries Payable Date Explanation Aug 31 Adjusting Interest Payable Date Explanation Aug 31 Adjusting Mortgage Payable Date Explanation Aug 31 Balance Ref J1 Ref J1 Ref $4,100 Debit Debit Debit $600 No.130 Balance $6,000 $4,800 No.112 Balance $25,000 No.143 Balance $125,000 No.144 Balance $1,500 No.149 Balance $26,000 No.150 Balance $600 No.201 Balance $6,500 No.209 Balance $7,400 $3,300 Credit $400 No.212 Balance $400 Credit $600 No.230 Balance $600 Credit No.275 Balance $80,000 ACCOUNTING 4 Share CapitalOrdinary Date Explanation Aug 31 Balance Utilities Expense Date Explanation Aug 31 Balance Part C Ref Debit Credit No.311 Balance $100,000 Ref Debit Credit No.132 Balance $9,400 NEOSHO RIVER RESORT, INC. Adjusting Trail Balance August 31, 2011 Credit Cash Account Receivable Supplies Prepaid Insurance Land Cottages Accumulated DepreciationCottage Furniture Accumulated DepreciationFurniture Accounts Payable Unearned Rent Revenue Salaries Payable Interest Payable Mortgage Payable Share CapitalOrdinary Dividends Rent Revenue Depreciation ExpenseCottages Depreciation ExpenseFurniture Repair Expense Supplies Expense Interest Expense Insurance Expense Salaries Expense Utilities Expense $19,600 $1,000 $600 $4,800 $25,000 $125,000 $1,500 $2,600 $600 $6,500 $3,300 $400 $600 $80,000 $100,000 $5,000 $85,000 $1,500 $600 $3,600 $2,700 $600 $1,200 $51,400 $9,400 $278,000 $278,000 Part D NEOSHO RIVER RESORT, INC. ACCOUNTING 5 Income Statement for the Three Months Ended August 31, 2011 Revenues Rent revenue Expense Salaries expense $85,100 $51,40 0 $9,400 $3,600 $2,700 $1,500 $1,200 $600 $600 Utilities expense Repair expense Supplies expense Depreciation expensecottages Insurance expense Interest expense Depreciation expensefurniture Total expense Net income NEOSHO RIVER RESORT, INC. Retained Earnings Statement For the Three Months Ended August 31, 2011 Retained Earnings, June 1 Add: Net income Less: Dividends Retained Earnings, August 31 $71,000 $14,100 $0 $14,100 $14,100 $5,000 $9,100 NEOSHO RIVER RESORT, INC. Statement of Financial Position For the Three Months Ended August 31, 2011 Assets Land Cottages Less: Accum. depreciationcottages Furniture Less: Accum. depreciationfurniture Prepaid insurance Supplies Account receivable Cash Total assets Equity and Liabilities Equity Share capitalordinary Retained earnings Liabilities Account payable Mortgage Payable Unearned rent revenue Interest payable Salaries payable Total equity and liabilities $25,000 $125,000 $15,000 $26,000 $600 $100,000 $9,100 $6,500 $80,000 $3,300 $600 $400 $123,500 $25,400 $4,800 $600 $1,000 $19,600 $199,900 $109,100 $90,800 $199,900