The trial balance for Cheyenne Corp. appears as follows:
Cheyenne Corp.
Trial Balance
D...
Mathematics, 16.11.2020 04:30 FutureDB
The trial balance for Cheyenne Corp. appears as follows:
Cheyenne Corp.
Trial Balance
December 31, 2022
Cash $320
Accounts Receivable 564
Prepaid Insurance 89
Supplies 194
Equipment 4320
Accumulated Depreciation, Equipment $650
Accounts Payable 415
Common Stock 1300
Retained Earnings 1510
Service Revenue 3232
Salaries and Wages Expense 1080
Rent Expense 540
$7107 $7107
If, on December 31, 2022, the insurance still unexpired amounted to $22, the adjusting entry would contain a:
debit to Prepaid Insurance for $22.
debit to Prepaid Insurance for $67.
credit to Prepaid Insurance for $22.
debit to Insurance Expense for $67.
Answers: 1
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