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please help i only need help w the ones in red those are the ones i got wrong The Skysong, Inc. opened for business on
please help i only need help w the ones in red those are the ones i got wrong
The Skysong, Inc. opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Skysong, Inc. Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $ 3,080 126 1.832 130 Supplies Prepaid Insurance Land 2,112 140 10,560 141 52,800 Buildings Equipment 149 12,960 200 Notes Payable $ 35,200 201 Accounts Payable 9,840 208 Unearned Rent Revenue 2.904 311 30.800 Common Stock Rent Raven 92222 311 30,800 429 8,824 610 Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 528 726 2,904 732 792 $ 87,568 $ 87,568 In addition to those accounts listed on the trial balance, the chart of accounts for Skysong, Inc also contains the following account 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 Interest Expense, and No. 722 Insurance Expense. Other data: 1. 2 Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $ 660 of unused supplies on May 31, Annual depreciation is $ 2,640 on the buildings and $1.296 on equipment 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 3. 4 A count of supplies shows $ 660 of unused supplies on May 31. Annual depreciation is $ 2,640 on the buildings and $ 1.296 on equipment. 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.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $885 are unpaid and unrecorded at May 31. No. Date Account Titles and Explanation Debit Credit 1 May 31 Insurance Expense 2112 Prepald Insurance 2112 2 May 31 Supplies Expense 1.832 Supplies 1832 3. May 31 Depreciation Expense 372 Accumulated Depreciation Buildings 52.800 Accumulated Depreciation Equipment 12.960 4 May 31 Interest Expense 400 400 Interest Payable Move Accumulated Depreciation-Buildings 52800 Accumulated Depreciation Equipment 12.960 4 May 31 Interest Expense 400 Interest Payable 400 5 May 31 Unearned Rent Revenue 8.824 Rent Revenue 8,824 ON May 31 Salaries and Wages Expense 2.904 Staries and Wes Pavalle 2.904
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