22 ces Fes Company is making adjusting journal entries for the year ended December 31, 2021. In developing information for the adjusting journal entries, you learned the following: a. A two-year insurance premium of $8,100 was paid on January 1, 2021, for coverage beginning on that date. As of December 31, 2021, the unadjusted balances were $8,100 for Prepaid Insurance and $0 for Insurance Expense. b. At December 31, 2021, you obtained the following data relating to supplies. Unadjusted balance in Supplies on December 31 Unadjusted balance in Supplies Expense on December 31 Supplies on hand, counted on December 31 Required: $ 19,500 81,000 13,600 1. Of the $8,100 paid for insurance, what amount should be reported on the 2021 income statement as Insurance Expense? What amount should be reported on the December 31, 2021, balance sheet as Prepaid Insurance? 2. What amount should be reported on the 2021 income statement as Supplies Expense? What amount should be reported on the December 31, 2021, balance sheet as Supplies? 3. Indicate the accounting equation effects of the adjustment required for (a) insurance and (b) supplies aw Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prov 1 of 3 Next > Help 1. Of the $8,100 paid for insurance, what amount should be reported on the 2021 income statement as Insurance Expense? What amount should be reported on the December 31, 2021, balance sheet as Prepaid Insurance? 2. What amount should be reported on the 2021 income statement as Supplies Expense? What amount should be reported on the December 31, 2021, balance sheet as Supplies? 3. Indicate the accounting equation effects of the adjustment required for (a) insurance and (b) supplies. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Of the $8,100 paid for insurance, what amount should be reported on the 2021 income statement as Insurance Expense? What amount should be reported on the December 31, 2021, balance sheet as Prepaid Insurance? Insurance Expense Prepaid Insurance Required 2 > Unadjusted balance in Supplies Expense on December 31 Supplies on hand, counted on December 31 Required: 81,000 13,600 50:46 1. Of the $8,100 paid for insurance, what amount should be reported on the 2021 income statement as Insurance Expense? W amount should be reported on the December 31, 2021, balance sheet as Prepaid Insurance? 2. What amount should be reported on the 2021 income statement as Supplies Expense? What amount should be reported on December 31, 2021, balance sheet as Supplies? 3. Indicate the accounting equation effects of the adjustment required for (a) insurance and (b) supplies. ok ht Complete this question by entering your answers in the tabs below. nt ences Required 1 Required 2 Required 3 What amount should be reported on the 2021 income statement as Supplies Expense? What amount should be reported on the December 31, 2021, balance sheet as Supplies? Supplies Expense Supplies 1. Of the $8,100 paid for insurance, what amount should be reported on the 2021 income statement as Insurance Expense? What amount should be reported on the December 31, 2021, balance sheet as Prepaid Insurance? 2. What amount should be reported on the 2021 income statement as Supplies Expense? What amount should be reported on the December 31, 2021, balance sheet as Supplies? 3. Indicate the accounting equation effects of the adjustment required for (a) insurance and (b) supplies. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Check my work Indicate the accounting equation effects of the adjustment required for (a) insurance and (b) supplies. (Enter any decreases to Assets, Liabilities, or Stockhold sign.) Transaction Assets Liabilities