Silver Lake Resort opened for business on July 1 with eight air-conditioned units. Its trial balance before adjustment on December 31 in as follows.

Silver Lake Resort, Inc. Unadjusted Trial Balance December 31,2014
	Debit	Credit
Cash	$ 19,600
Supplies	3,300
Prepaid Insurance	6,000
Land	25,000
Buildings	125,000
Equipment	26,000
Accounts Payable		$6,500
Unearned Rent Revenue		7,400
Mortgage Payable		80,000
Share Capital-Ordinary		100,000
Dividends	5,000
Rent Revenue		80,000
Maintenance and Repairs Expense	3,600
Salaries and Wages Expense	51,000
Utilities Expense	9,400
	$273,900	$273,900

Other data for the adjustments (assuming no monthly adjustments before the fiscal year end):

Prepare adjusting journal entries for the following items.

1. Prepaid insurance of $6,000 was recorded on Sep 1, 2014 and the Insurance expires at the rate of $500 per month

2. A count of supplies on December 31 shows $1,000 on hand.

3. Depreciation for the period is $4,500 on buildings and $2,400 on equipment.

4. Unearned rent revenue of $4,000 out of previous balance $7,400 was now earned for services performed prior to December 31.

5. Salaries of $1,000 were unpaid at December 31.

6. Rentals of $3,000 were due from tenants at December 31 (use Accounts Receivables) [not yet received].

Prepare the adjusted trial balance, income statement, statement of retained earnings, and balance sheet. (you may use a separate sheet)