Current Attempt in Progress A partial tabular summary for Sheffield Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Liabilities Prepaid Supplies + Insurance + 4,010 2,520 Stockholders' Equity Reatined Earnings Com. + Stock + Rev. Exp. . Div Acc. Depr. Equip. -7,530 Unearn, Rent Rev. Int. Pay. + 0 Equip. 25.100 Notes Pay. 19,300 + al. 11.800 1. An analysis of the accounts shows the following The equipment depreciates $330 per month. 2. Half of the unearned rent revenue was earned during the quarter. Interest of $300 is accrued on the notes payable. Supplies on hand total $870. Insurance expires at the rate of $280 per month. 3. 4. 5. Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Acc. Depr Equip. Supplies Prepaid Insurance Equip. 3. 4. Interest of $300 is accrued on the notes payable. Supplies on hand total $870. Insurance expires at the rate of $280 per month. 5. Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Supplies Equip Prepaid Insurance 2.520 Acc. Depr: Equip -7.530 Bal. 4,010 25.100 1. 2. 3. 4. 5. eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later 4. Supplies on hand total $870. Insurance expires at the rate of $280 per month. 5. Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Int. Pay. Notes Pay. Unearn. Rent Rev. Com. Stock 0 19.300 11,800 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Insurance expires at the rate of $280 per month. epare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction sults in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the mount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Exp. Rev. Div eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later