#3- I am having difficulty understanding, I need explanation in why my entry $$$ is wrong .I utilize $50,400-$12000/60months =640

1) The balance In Prepald Insurance represents a 24-month policy that went Into effect on December 1. Review the unadjusted balance In Prepaid Insurance, and prepare the necessary adjusting entry, If any. 2) Based on a physical count, supples on hand total $5,550. Revlew the unadjusted balance In adjusting entry, If any 3) The equlpment is expected to have an 5-year useful life, and be worth about $12,000 at the end of five years. Revew the unadjusted balance In Accumulated depreclation, and prepare the necesssary adjusting entry to record the monthly depreclation, If Supplies, and prepare the necessary any 4) On December 26. the client pald a $12,600 60-day fee In advance, covering December 27 to February 24. Revlew the unadjusted balance In Uneamed Consulting Revenue, and prepare the necessary adjusting entry., If any. 5) Solid Systems's employee earns $220 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last pald on Friday, December 26. Review the unadjusted balance in Salaries expense, and prepare the necessary adjusting entry, If any 6) In the second week of December, Sold Systems agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $5,340. The terms of the Initial agreement call for Solid Systems to provide services from December 12, through January 10. or 30 days of service. The club agrees to pay Solld Systems $5,340 on January 10, when the service perlod Is complete. Revlew the unadjusted balance In Consulting revenue, and prepare the necessary adjusting entry. If any Answer is not complete. General Ledger General Income St Retained Impact on income Trial Balance Requirement Balance Sheet Earnings Journal Statement For transactions 1-6, review the unadjusted balance from the Trial Balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the financial statements for accuracy No Date Account Title Debit Credit Dec 31 250 1 Insurance expenser Prepaid insurance 250 2 Dec 31 Supplies expense 1,850 Supplies 1.850 Depreciation expense- Equipment 3 Dec 31 640 840 Accumulated depreciation- Equipment Solid Systems Trial Balance December 31, 2016 Account Title Debit Credit Cash Supplies 12.425 7,400 Prepaid insurance 6,000 Equipment 50,400 10,200 12,800 Accounts payable Uneamed consulting revenue Common stock 50,000 1,100 Dividends Consulting revenue 10,300 Rental revenue 750 40 Galaries expense Rent expense 2,400 385 Utilities expense 83,850 S Total 83,850