a. Introduction to Financial Accounting BUSI 1043 Learning Activity 2 -4% - 100 marks Q1: Write the adjusting journal entries for Lion Corp. on Dec 31, 2021, for the below situations. 60 marks Lion Corp. paid rent in advance $16,000, on Aug 1, 2021 for the next 12 months. b. Lion Corp. purchased a building on Jan 1, 2021 for $275,000 with useful life of 20 years. Write the depreciation journal entry for 2021. The Supplies account had a balance of $270 at the beginning of the year and additional supplies purchased during the year was for $250. On Dec 31, 2021 supplies on hand is $135. Account Debit Credit C