The yenne Corp.opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows. Cheyenne Corp. Trial Balance May 31, 2019 Account Number Debit Credit 101 Cash $3,500 126 Supplies 2,000 130 Prepaid Insurance 2,400 140 Land 14,000 141 Buildings 61,600 149 Equipment 14,900 201 Accounts Payable $ 11,300 208 Unearned Rent Revenue 3,200 275 Mortgage Payable 40,000 311 Common Stock 35,300 275 Mortgage Payable 40,000 311 Common Stock 35,300 429 Rent Revenue 13,400 610 650 726 Advertising Expense Salaries and Wages Expense Utilities Expense 3,200 732 950 $103,200 $103.200 In addition to those accounts listed on the trial balance, the chart of accounts for Cheyenne Corp. 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 Interest Expense, and No. 722 Insurance Expense. Other data: 1. 2 Prepaid insurance is a 1-year policy starting May 1, 2019. A count of supplies shows 5700 of unused supplies on May 31 Annual depreciation is $3,084 on the buildings and $1.488 on equipment 3 4 The mortgage interest rate is 1296. (The mortgage was taken out on May 1.) In addition to those accounts listed on the trial balance, the chart of accounts for Cheyenne Corp. 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 Interest Expense, and No. 722 Insurance Expense. Other data: 1. 2. 3. Prepaid insurance is a 1-year policy starting May 1, 2019. A count of supplies shows $700 of unused supplies on May 31. Annual depreciation is $3,084 on the buildings and $1,488 on equipment. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue has been earned. 4 5. 6. Salaries of $800 are accrued and unpaid at May 31. (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 the order of journal entries posted in the previous part of the question. Round answers to o decimal places, eg. 5,275.) Cash No. 101 Date Explanation Ref Debit Credit Balance May 31 Balance V Supplies No. 126 Date Explanation Ref Debit Credit Balance May 31 Balance V J1 May 31 Adjusting Prepaid Insurance No. 130 Date Explanation Ref Debit Credit Balance May 31 Balance No. 130 Prepaid Insurance Date Explanation Ref Debit Credit Balance May 31 Balance May 31 Adjusting ji Land No. 140 Date Explanation Ref Debit Credit Balance May 31 Balance No. 141 Red Debit Credit Balance Buildings Date Explanation May 31 Balance Accumulated Depreciation- Buildings Date Explanation No. 142 Ref Debit Credit Balance May 31 Adjusting J1 Equipment No. 149 No. 149 Ref Debit Credit Balance No. 150 Ref Debit Credit Balance Equipment Date Explanation May 31 Balance Accumulated Depreciation- Equipment Date Explanation May 31 Adjusting Accounts Payable Date Explanation May 31 Balance Unearned Rent Revenue Date Explanation May 31 Balance J1 No. 201 Ref Debit Credit Balance No. 208 Ref Debit Credit Balance V May 31 Adjusting 31 Salaries and Wages Payable No. 212 Unearned Rent Revenue No. 208 Ref Debit Credit Balance J1 No. 212 Ref Debit Credit Balance J1 Date Explanation May 31 Balance May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Interest Payable Date Explanation May 31 Adjusting Mortgage Payable Date Explanation May 31 Balance Common Stock Date Explanation No. 230 Ref Debit Credit Balance 01 No. 275 Ref Debit Credit Balance No. 311 Ref Debit Credit Balance May 31 Balance Common Stock No. 311 Ref Debit Credit Balance Date Explanation May 31 Balance Rent Revenue Date Explanation May 31 Balance No. 429 Ref Debit Credit Balance V J1 No. 610 Ref Debit Credit Balance May 31 Adjusting Advertising Expense Date Explanation May 31 Balance Depreciation Expense Date Explanation May 31 Adjusting No. 619 Ref Debit Credit Balance 01 Supplies Expense No. 631 os Depreciation Expense No. 619 Ref Debit Credit Balance Ji No. 631 Ref Debit Credit Balance J1 No. 718 Date Explanation May 31 Adjusting Supplies Expense Date Explanation May 31 Adjusting Interest Expense Date Explanation May 31 Adjusting Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation Ref Debit Credit Balance 31 No. 722 Ref Debit Credit Balance J1 No. 726 Ref Debit Credit Balance May 31 Balance Salaries and Wages Expense No. 726 Date Explanation Ref Debit Credit Balance May 31 Balance May 31 Adjusting J1 Utilities Expense Date Explanation No. 732 Ref Debit Credit Balance May 31 Balance V e Textbook and Media List of Accounts