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    mgrazioso920's Avatar
    mgrazioso920 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 11, 2008, 12:25 PM
    Financial Accounting - Adjusting Entries
    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's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    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
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