The ledger of ABC Co., March 31, 2001. include the following selected accounts before preparing adjusting entries:
In analysis of the accounts shows the following:
1 . The equipment depreciates $250 per month.
2. One-third of the unearned rent was earned during the quarter.
3. Interest of $500 is accrued on the notes payable.
4. Insurance expires at the rate of $300 per month.
5. Supplies on hand total $850.
Instructions: assuming that adjustments arc made quarterly:
1. Compute the depreciation expense, rent revenue, interest expense. insurance expense and supplies expense recognized during the first quarter of 2011.
2. Prepare a partial adjusted trial balance on March 31, 2011.