Answered step by step
Verified Expert Solution
Question
1 Approved Answer
for the adjusted trail balance there is a total of 22 lines The Cheyenne Corp. opened for business on May 1,202.2. Its trial balance before
for the adjusted trail balance there is a total of 22 lines
The Cheyenne Corp. opened for business on May 1,202.2. Its trial balance before adjustment on May 31 is as follo In addition to those accounts listed on the trial balance, the chart of accounts for Cheyenne Corp. also contains the follov and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Expense, and No. 722 Insurance Expense. In addition to those accounts listed on the trial balance, the chart of accounts for Cheyenne Corp. also contains the lollowing accounts and account numbers: No. 142 Accumulated Depreciation - Buildings, Na. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense. No. 631 Supplies Expense, No. 718 interest Expense, and No. 722 insurance Expense. Other data; 1. Prepaid insurance is a 1-year policy starting May 1, 2022 2. A count of supplies shows $855 of unused supplies on May 31. 3. Annual depreciation is $3,420 on the buildings and $1,608 on equipment. 4. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid aldng with interest in 2 years) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries and wages of $885 are unpaid and unrecorded at May 31. Do nse ledent monustirl the aspusticg entries (Post entriet in the otder of jeurnal entries pasted in the previeus part af the duentian) Accunvulated Depreclation- Buildings Lquipment \begin{tabular}{|l|l|l|l|l|l|l|l|} \hlineQ & W & E & R & T & Y & U & I \\ \hlineA & S & D & F & G & H & J \\ \hline \end{tabular} Croysese Carp. Crefit Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started