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mgrazioso920
Oct 11, 2008, 12:25 PM
Can someone please help me with this financial accounting homework? I have been working on this homework for a week. I want to get it right prior to submitting it to the professor. Thanks.

Melinda

GUNFLINTADVENTURES Adjusted Trial Balance June 30
Debit Credit
Prepaid airport rent $7,200
Unexpired insurance 3,500
Airplane 240,000
Accumulated depreciation: airplane $36,000
Unearned passenger revenue 90,000

Plane depreciates over 20 yrs; 6-mos rent pre-paid May 1; unexpired insurance remins from 12-mos policy purchased 2/1; Passenger revenue earned June $75,000

Question Answer
1. The age of the airplane 240 months
2. The monthly airport rent expense $1,200
3. The amount paid for the 12-month insur policy on $3,500

Curlyben
Oct 11, 2008, 12:42 PM
Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: Ask Me Help Desk - Announcements in Forum : Homework Help (https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html)