The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on a monthly basis. The following trial balance was prepared before recording the May 31 month-end adjustment HIGHLAND COVE RESORT Trial Balance May 31, 201/ Cash Prepaid Insurance Supplies Land Buildings Accumulated Depreciation-Buildings Furniture Accumulated Depreciation-Furniture Accounts Payable Unearned Revenue Mortgage Payable K. MacPhail, Capital K. MacPhail, Drawings Rent Revenue Depreciation Expense Insurance Expense Interest Expense Repairs Expense Salaries Expense Supplies Expense Utilities Expense $17,740 1,650 840 34,000 150,000 $47,750 33,000 12,925 7,700 14,100 118,000 80,000 42,035 227,285 5,775 6,050 6,490 14,400 154,430 4,150 37,200 $507,760 $507,760
