3-7 question

a. Prepaid Insurance. b. Depreciation Experte e. Unearned Service Revenue d. Interest Payable Identify the major types of adjusting entries. BE34 (LO 1). AN Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (a) the status of the accounts before adjustment (for example, assets understated and revenue understates"). a. Supplies of $400 are on hand. Supplies account shows $1,600 balance. b. Services performed but unbilled total $700 c. Interest of $300 has accumulated and not been paid) on a note payable. d. Rent collected in advance totaling $1.100 has been earned Prepare adjusting entry for supplies BE3-5 (LO2). AP Lahey Advertising Company's trial balance at December 31 shows Supplies $8,800 and Supplies Expense so. On December 31, there are $1,100 of supplies on hand. Prepare the adjusting entry at December 31 and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account Prepare adjusting entry for depreciation, BE36 (LO.2), AP At the end of its first year, the trial balance of Rayburn Company shows Equipment $2,000 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense Depreciation for the year is estimated to be $2.750. Prepare the annual adjusting entry for depreciation at December 31. post the adjustments to T- accounts, and indicate the balance sheet presentation of the equipment at December 3 Prepare adjusting entry for prepaid expense. BE37 (0.2), AP on July 1, 2020, Line Co pee 12.400 to Marah Insurance Co, formatgear insurance contract. Both companies have fiscal years ending December 31. For Ting Co. oumalize and post the entry on July 1 and the annual adjusting entry on December 31 Prepare adjusting entry for neared revenue BE38 (L2), AP On July 1, 2030. Ling Co, pays $12.400 to Marsh Insurance Co. for a 2 year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July and the annual adjusting entry on December 31 for Marsh Insurance Co Marshatses the accounts named Service Revenue and Service Revenue Prepare adjusting entries for deferrals, BE3-9 (LO 2), AP The unadjusted trial balance of Northern Exposure Inc. had these balances for the following selected account Supplies $3.100, Ucarne Werte dated our read aloud feature Prepaid Rent $1,200. At the end of the period, a count showed $500 of supplies on hand Services of $2,000 had been performed related atyre 11 VIMI 40 00 pel. Mio. Read