1 of 2 Homework Practice - Adjusting Entries [ACCT 301] Prepidemens P1 Focache came below follow the proceso de product December 31. Step 1: Determine what the current com bulunce Sup Determine what the current hand pail. Step 3 Record the December entry to go 2. Amother adjusting curies are made during the you Prepaid Imrance. The reproduce the 1.700 di boya A view of immunes policies and payment shows that 500 cm Prepaid Insurance. The repaid ca. de balance at the art of the yea Amicofinance policies and payments 1.040 inch expired by a Prepaident. On September of the current year, the company propu Sorot So facilities being occupied that day. The company debited Prepaid ad credial For each separate can below, follow the step process for adjusting the applicant account at os December 31. Step 1: Determine what the current account balance equals. Sep 2: Determine what the current account balance should cal. Step 3Record the December 31 juing catry to get from eple to step 2. Assume no other adjusting entries are made during they Supplies. The Supplies account has a 300debit balance to start the year. Ne supplies were perche during the current year. A December 31 physical count shows $110 of supplies rem b. Supplies. The Supplies accounts andchit balance to start the year. Supplies of $2,100 cm purchased during the current year and debited to the Supplies account. A December 31 physical.com shows S650 of supplies termining & Supplies. The Supplies account ha a 4.000 debit balance to start the year. During the current year supplies of $9.400 were purchased and debited to the Sapplics account. The inventory of supplies wailable at December 31 totaled 52.660 On July 1, 2015. Soliman Company paid $1.200 for six months of insurance coverage. No adjustments 03 have been made to the Prepaid Insurance account, and it is now December 31, 2015. Prepare the one nal entry to reflect expiration of the insurance as of December 31, 2015 P D. Zaki Company has a Supplies account balance of 5.000 on January 1, 2015. During 2015, it per chased $2,000 of supplies. As of December 31, 2015. a supplies inventory shows $300 of supplies wailable. Prepare the adjusting journal entry to correctly report the balance of the Supplies and the Supplies Expense account as of December 31, 2015 Focache separate cose below for the price for ting the accepte December 31, Step Determine what the current bulance Step Determine whether Current count balance shekul. Step Record the December ting try to get free! tep 2. Amecher duting made during the you Accumulated Depreciation. The King Tut Company's Acad Depreciation of $13 balance to start the year of depechedules 14.000 de the capithe recorded for the you Accumulated Depreciation. The company helyen fer poche start of this year. The whol con la stimated Site offive your de hero value at the end of the five year Accmated Depreciation. The cosy find the the start of this year. That was com 532.00 bal edited life of veya iste to head to the other BeCompany poche 330.000 en Jury 1, 2015. Their pete last freyears and be worth $2.000 then that time. Prepare there's depreciate cupone of the December 31, 2015 Le Company purchase of und damery 1, 2015. The land apelinde chy What time, if bude with respect the Law of December 31, 2015