4) The company has $16,827 of supplies remaining on hand as of December 31 . Describe the effects of this transaction on the accounting equation in terms of debits and credits Assets = Liabilities Prepare the appropriate journal entry for this transaction 2) For the questions in Q1, first conduct a transaction analysis and indicate the dollar effects of the transaction on the accounting identity in the appropriate debit or credit column. Then prepare the journal entry, selecting the appropriate accounts from the dropdown menu. Round all calculations to the nearest dollar. For example: Takes out a note from the bank in exchange for $10,000 in cash. Describe the effects of this transaction on the accounting equation in terms of debits and credits. Asset 10 Prepare the appropriate journal entry for this transaction 3) In Q2, post the journal entries from Q1 to their appropriate cells in the worksheet. Then prepare the adjusted trial balance. 1) The company previously purchased equipment in a previous accounting period for a cost of $758,164. When purchased, the equipment had an expected life of 22 years. If this transaction on the accounting equation in terms of debits and credits =Liabilities Prepare the appropriate journal entry for this transaction 2) The company paid $2,688 for insurance on November 30 for the following twenty four months. Describe the effects of this transaction on the accounting equation in terms of debits and credits Assets =Liabilities Prepare the appropriate journal entry for this transaction Describe the effects of this transaction on the accounting equation in terms of debits and credits - Lisbilities Prepare the appropriate journal entry for this transaction