HWCH3: Q1/2 (b)

Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in order of entries posted in previous question)

The Sheridan Company opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Sheridan Company also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No, 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interes 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 $675 of unused supplies on May 31 . 3. Annual depreciation is $2,700 on the buildings and $1,320 on equipment. 4. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years) 5. Two-thirds of the uncarned rent revenue has been earned. 6. Salaries and wages of $885 are unpaid and unrecorded at May 31. Journalize the adjusting entries on May 31. (Credit account titles are outomatically indented when the amount is entered. Do not indent manualty.) Question 1 of 2 8.01/50 Supplies 1,199 3. May Depreciation Expense 335 Accumulated Depreciation-Buildings 225 Accumulated Depreciation-Equipment 110 4. May Interest Expense 360 \begin{tabular}{r} \hline 110 \\ \hline \\ \hline \end{tabular} Interest Payable 360 5. 31 Unearned Rent Revenue 1,980 Rent Reverue 4 1,980 6. 31M Salaries and Wages Expense 885 Sataries and Wages Parable 885 Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Question 1 of 2 8.01/50 Question 1 of 2 8.01/50 May 31 Adjusting J1 Interest Payable No. 230 \begin{tabular}{ccccc|} \hline Date & Explanation & Ref & Debit & Credit \\ \hline May 31 & Adjusting & 31 & & \\ \hline \end{tabular} Common Stock No. 311 \begin{tabular}{ccccc} Date Explanation & Ref & Debit & Credit \\ May 31 & Balance & & & \\ \hline \end{tabular} No. 429 Rent Revenue No. 610 May 31 Adjusting 31 Depreciation Expense No. 619 Question 1 of 2 8.01/50 \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & j1 & & & \\ \hline \multicolumn{5}{|c|}{ Supplies Expense } & No, 631 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & j1 & & & \\ \hline \multicolumn{5}{|c|}{ Interest Expense } & No. 718 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Insurance Expense } & No. 722 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Salaries and Wages Expense } & No. 726 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & \\ \hline \end{tabular} 3 Question 1 of 2 8.01/50 \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Insurance Expense } & No. 722 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Salaries and Wages Expense } & . 726 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Utilities Expense } & . 732 \\ \hline Date & Explanation & Ref & Debit & Credit & Bafance \\ \hline May 31 & Balance & & & & \\ \hline \end{tabular} eTextbook and Media The Sheridan Company opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Sheridan Company also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No, 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interes 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 $675 of unused supplies on May 31 . 3. Annual depreciation is $2,700 on the buildings and $1,320 on equipment. 4. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years) 5. Two-thirds of the uncarned rent revenue has been earned. 6. Salaries and wages of $885 are unpaid and unrecorded at May 31. Journalize the adjusting entries on May 31. (Credit account titles are outomatically indented when the amount is entered. Do not indent manualty.) Question 1 of 2 8.01/50 Supplies 1,199 3. May Depreciation Expense 335 Accumulated Depreciation-Buildings 225 Accumulated Depreciation-Equipment 110 4. May Interest Expense 360 \begin{tabular}{r} \hline 110 \\ \hline \\ \hline \end{tabular} Interest Payable 360 5. 31 Unearned Rent Revenue 1,980 Rent Reverue 4 1,980 6. 31M Salaries and Wages Expense 885 Sataries and Wages Parable 885 Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Question 1 of 2 8.01/50 Question 1 of 2 8.01/50 May 31 Adjusting J1 Interest Payable No. 230 \begin{tabular}{ccccc|} \hline Date & Explanation & Ref & Debit & Credit \\ \hline May 31 & Adjusting & 31 & & \\ \hline \end{tabular} Common Stock No. 311 \begin{tabular}{ccccc} Date Explanation & Ref & Debit & Credit \\ May 31 & Balance & & & \\ \hline \end{tabular} No. 429 Rent Revenue No. 610 May 31 Adjusting 31 Depreciation Expense No. 619 Question 1 of 2 8.01/50 \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & j1 & & & \\ \hline \multicolumn{5}{|c|}{ Supplies Expense } & No, 631 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & j1 & & & \\ \hline \multicolumn{5}{|c|}{ Interest Expense } & No. 718 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Insurance Expense } & No. 722 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Salaries and Wages Expense } & No. 726 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & \\ \hline \end{tabular} 3 Question 1 of 2 8.01/50 \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Insurance Expense } & No. 722 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Salaries and Wages Expense } & . 726 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & \\ \hline May 31 & Adjusting & 31 & & & \\ \hline \multicolumn{5}{|c|}{ Utilities Expense } & . 732 \\ \hline Date & Explanation & Ref & Debit & Credit & Bafance \\ \hline May 31 & Balance & & & & \\ \hline \end{tabular} eTextbook and Media