The unadjusted trial balance for Cheyenne Corp. is shown below. CHEYENNE CORP. Trial Balance October 31, 2022 Debit Credit Cash $15,620 Supplies 2,550 Prepaid Insurance 660 Equipment Notes Payable 5,490 $5,490 Accounts Payable 2,750 Unearned Service Revenue 1,980 Common Stock 11,330 Retained Earnings Dividends 520 Service Revenue 8,500 Salaries and Wages Expense 4,000 Rent Expense 1,210 $30.050 $30.050 Assume the following adjustment data. 1. Supplies on hand at October 31 total $510. 2. Expired insurance for the month is $110. 3. Depreciation for the month is $100. 4. As of October 31, services worth $970 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $260. 6. Interest expense accrued at October 31 is $75. 7. Accrued salaries at October 31 are $1,520. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit Oct. 1. 31 Ot. 2. 31 Oct. 3. 31 Ot. 4. 31 Oct. 5. 31 Oct. 6. 31 Oct. 7. 31
The unadjusted trial balance for Cheyenne Corp. is shown below. CHEYENNE CORP. Trial Balance October 31, 2022 Debit Credit Cash $15,620 Supplies 2,550 Prepaid Insurance 660 Equipment Notes Payable 5,490 $5,490 Accounts Payable 2,750 Unearned Service Revenue 1,980 Common Stock 11,330 Retained Earnings Dividends 520 Service Revenue 8,500 Salaries and Wages Expense 4,000 Rent Expense 1,210 $30.050 $30.050 Assume the following adjustment data. 1. Supplies on hand at October 31 total $510. 2. Expired insurance for the month is $110. 3. Depreciation for the month is $100. 4. As of October 31, services worth $970 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $260. 6. Interest expense accrued at October 31 is $75. 7. Accrued salaries at October 31 are $1,520. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit Oct. 1. 31 Ot. 2. 31 Oct. 3. 31 Ot. 4. 31 Oct. 5. 31 Oct. 6. 31 Oct. 7. 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
see image attached
![The unadjusted trial balance for Cheyenne Corp. is shown below.
CHEYENNE CORP.
Trial Balance
October 31, 2022
Debit
Credit
Cash
$15,620
Supplies
2,550
Prepaid Insurance
660
Equipment
Notes Payable
5,490
$5,490
Accounts Payable
2,750
Unearned Service Revenue
1,980
Common Stock
11,330
Retained Earnings
Dividends
520
Service Revenue
8,500
Salaries and Wages Expense
4,000
Rent Expense
1,210
$30.050
$30.050
Assume the following adjustment data.
1.
Supplies on hand at October 31 total $510.
2.
Expired insurance for the month is $110.
3.
Depreciation for the month is $100.
4.
As of October 31, services worth $970 related to the previously recorded unearned revenue had been performed.
5.
Services performed but unbilled (and no receivable has been recorded) at October 31 are $260.
6.
Interest expense accrued at October 31 is $75.
7.
Accrued salaries at October 31 are $1,520.
Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the
amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No.
Date Account Titles and Explanation
Debit
Credit
Oct.
1.
31
Ot.
2.
31
Oct.
3.
31
Ot.
4.
31
Oct.
5.
31
Oct.
6.
31
Oct.
7.
31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdce4fc3f-1ed5-48c5-a8ea-10d4d9bf378d%2F41b16eb5-16c1-4192-84b7-3b5e9f9d5b9e%2Fiqmk82p.png&w=3840&q=75)
Transcribed Image Text:The unadjusted trial balance for Cheyenne Corp. is shown below.
CHEYENNE CORP.
Trial Balance
October 31, 2022
Debit
Credit
Cash
$15,620
Supplies
2,550
Prepaid Insurance
660
Equipment
Notes Payable
5,490
$5,490
Accounts Payable
2,750
Unearned Service Revenue
1,980
Common Stock
11,330
Retained Earnings
Dividends
520
Service Revenue
8,500
Salaries and Wages Expense
4,000
Rent Expense
1,210
$30.050
$30.050
Assume the following adjustment data.
1.
Supplies on hand at October 31 total $510.
2.
Expired insurance for the month is $110.
3.
Depreciation for the month is $100.
4.
As of October 31, services worth $970 related to the previously recorded unearned revenue had been performed.
5.
Services performed but unbilled (and no receivable has been recorded) at October 31 are $260.
6.
Interest expense accrued at October 31 is $75.
7.
Accrued salaries at October 31 are $1,520.
Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the
amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No.
Date Account Titles and Explanation
Debit
Credit
Oct.
1.
31
Ot.
2.
31
Oct.
3.
31
Ot.
4.
31
Oct.
5.
31
Oct.
6.
31
Oct.
7.
31
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education