In addition to those accounts listed on the trial balance, the chart of accounts for spring rover resort also contains the following accounts and account numbers NO. 112 accounts receivable. No. 144 Accumulated depreciations- cottages, No. 150 accumulated depreciation furniture, No.212 salaries payable, No. 230 Interest Payable, No. 620 Depreciation ExpenseCottages, No. 621 Depreciation Expense Furniture. No 631 Supplies Expense, No718 Interest Expense, and No. 722 insurance Expense.

Other Data

1. Insurance expires at the rate of $400 per month

2. A count of August 31 shows $900 of supplies on hand

3. Annual depreciation is $3,600 on Cottages and $2,400 on furniture

4. Unearned rent of $4,100 was earned prior to August 31

5. Salaries of $400 were unpaid at August 31

6. Rental of $800 were due from tenants at August 31 (use accounts receivable)

7. The mortgage interest rate is 9 percent per year. (The mortgage was taken out on August 1)

Instructions: Prepare Accountants Worksheet.

Determine Profit or Loss

Determine Book Value of Fixed Assets

Prepare nice looking Income statement for the Period June 1 to August 31, 3 months

Prepare nice looking Balance sheet as of August 31.

Trial Balance August 31, 2008 Account Number Debit Credit $19,600 3,300 6,000 101 Cash 126 130 Supplies Prepaid Insurance 140 Land 25,000 125,000 26,000 143 Cottages Furniture Accounts Payable Uncarned Rent Mortgage Payable Common Stock 149 201 $6,500 7,400 208 275 311 80,000 100,000 Retained Earnings Dividends Rent Revenue 320 332 429 622 5,000 80,000 Repair Expense Salaries Expense Utilities Expense 3,600 51,000 9,400 $273,900 726 732 $273,900