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

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