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Take me to the text Chirp Ski Resort is owned by Christina Piller and provides training to novice ski enthusiasts. At the end of November
Take me to the text Chirp Ski Resort is owned by Christina Piller and provides training to novice ski enthusiasts. At the end of November 2021, the company had the following adjustments. Nov 30 Interest on the bank loan is set at 6%. One month of interest has accrued. Nov 30 The balance of prepaid rent is for the remaining 8 months of the lease. One month of rent has been used. The equipment was purchased three months prior at the beginning of the month and will have a useful life of 6 years, Nov 30 after which it will have residual value of $850. Depreciation is recorded every month. Record depreciation for November. Nov 30 Chirp Ski Resort provided services that accounted for $610 of the amount that was previously unearned. Unadjusted Trial Balance Chirp Ski Resort Worksheet November 30, 2021 Adjusted Trial Balance Adjustments Account DR CR DR CR DR 5600 Cash 5,600 Accounts Receivable 2,330 Prepaid Rent 8,800 Equipment 16,186 Accumulated 426 Depreciation Accounts Payable 2,300 Interest Payable Unearned Revenue 2,700 Bank Loan 6.3001 1100 32 CR Bank Loan Piller, Capital Piller, Withdrawals 1,500 Service Revenue Depreciation Expense Rent Expense Interest Expense 6,300 18,590 8,500 Insurance Expense 1,400 Salaries & Wages Expense 3,000 Total 38,816 38,816 Check 1100 32 1400 3000 Chirp Ski Resort is owned by Christina Piller and provides training to novice ski enthusiasts. At the end of November 2021, the company had the following adjustments. Nov 30 Interest on the bank loan is set at 6%. One month of interest has accrued. Nov 30 The balance of prepaid rent is for the remaining 8 months of the lease. One month of rent has been used. The equipment was purchased three months prior at the beginning of the month and will have a useful life of 6 years, Nov 30 after which it will have residual value of $850. Depreciation is recorded every month. Record depreciation for November. Nov 30 Chirp Ski Resort provided services that accounted for $610 of the amount that was previously unearned
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