Question 4 of 5

Question 4 of 5 View Policies 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. Acc. Depr.- Equip. 9,240 Liabilities Notes 22,000 Stockholders' Equity Retained Earnings Rev. - Exp. Div Bal. Supplies 3,300 Assets Prepd Insur. 3,960 Equip. 27,500 Int. pay. Unearn. Rent Rev. 13,640 Com. Stock An analysis of the accounts shows the following. 1. 2. 3. 4. 5. The equipment depreciates $ 314 per month. Half of the rental services related to unearned rent revenue was provided during the quarter. Interest of $ 440 is accrued on the notes payable. Supplies on hand total $ 935. Insurance expires at the rate of $ 440 per month.