Question

Fix the boxes in Red.

The Oriole Company opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Oriole Co

In addition to those accounts listed on the trial balance, the chart of accounts for Oriole Company also contains the followi

Debit Credit No. Date Account Titles and Explanation May 1. Insurance Expense 31 232 Prepaid Insurance 232 2. May 31 Supplies

Cash No. 101 Balance Date Explanation Ref Debit Credit May 31 Balance ✓ 4060 Supplies Date No. 126 Balance Explanation Ref De

No. 142 Accumulated Depreciation- Buildings Date Explanation Ref Debit Credit Balance May 31 Adjusting J1 290 No. 149 EquipmeUnearned Rent Revenue Date Explanation No. 208 Balance Ref Debit Credit May 31 Balance ✓ 3828 J1 2552 May 31 Adjusting SalariAdvertising Expense Date Explanation May 31 Balance No. 610 Balance Ref Debit Credit ✓ 696 Depreciation Expense Date Explanat

Utilities Expense Date Explanation No. 732 Balance Ref Debit Credit May 31 Balance ✓ 1044

Oriole Company Adjusted Trial Balance May 31, 2022 Debit Credit Cash $ $ Supplies Prepaid Insurance Land Buildings Accumulate

Interest Payable Common Stock Rent Revenue Advertising Expense Depreciation Expense Supplies Expense Interest Expense InsuranOriole Company Income Statement $ $

Prepare a retained earnings statement for the month of May 31. Oriole Company Retained Earnings Statement $ $Oriole Company Balance Sheet Assets $ A A $Liabilities and Stockholders Equity $ $ 9

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Answer #1
No. Date Account Titles and Explanation Debit Credit
3 May 31 Depreciation expense 426
Accumulated depreciation-buildings ($3480/12) 290
Accumulated depreciation-equipment ($1632/12) 136
4 May 31 Interest expense 464
Interest payable ($46400 x 12% x 1/12) 464
Supplies
Date Explanation Ref Debit Credit Balance
May 31 Balance 2420
May 31 Adjusting J1 1550 870
Prepaid Insurance
Date Explanation Ref Debit Credit Balance
May 31 Balance 2784
May 31 Adjusting J1 232 2552
Accumulated Depreciation-Buildings
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 290 290
Accumulated Depreciation-Equipment
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 136 136
Unearned Rent Revenue
Date Explanation Ref Debit Credit Balance
May 31 Balance 3828
May 31 Adjusting J1 2552 1276
Salaries and Wages Payable
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 885 885
Interest Payable
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 464 464
Rent Revenue
Date Explanation Ref Debit Credit Balance
May 31 Balance 10868
May 31 Adjusting J1 2552 13420
Depreciation Expense
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 426 426
Supplies Expense
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 1550 1550
Interest Expense
Date Explanation Ref Debit Credit Balance
May 31 Adjusting J1 464 464
Salaries and Wages Expense
Date Explanation Ref Debit Credit Balance
May 31 Balance 3828
May 31 Adjusting J1 885 4713
Oriole Company
Adjusted Trial Balance
May 31, 2022
Debit Credit
Cash 4060
Supplies 870
Prepaid Insurance 2552
Land 13920
Buildings 69600
Accumulated depreciation-buildings 290
Equipment 16320
Accumulated depreciation-equipment 136
Notes payable 46400
Accounts payable 12976
Unearned rent revenue 1276
Salaries and wages payable 885
Interest payable 464
Common stock 40600
Rent revenue 13420
Advertising expense 696
Depreciation expense 426
Supplies expense 1550
Interest expense 464
Insurance expense 232
Salaries and wages expense 4713
Utilities expense 1044
Totals $ 116447 116447
Oriole Company
Income Statement
For the Month Ended May 31, 2022
Revenues
Rent revenue 13420
Expenses
Advertising expense 696
Depreciation expense 426
Supplies expense 1550
Interest expense 464
Insurance expense 232
Salaries and wages expense 4713
Utilities expense 1044
Total expense 9125
Net income $ 4295

Per HOMEWORKLIB RULES, 4 parts have been done. Please post the remaining separately. Thank you.

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