A usting Accounts for Financial Statements Exercise 3-9 Adjusting entries-different accounting periods en Ace Games (Q&A Games) runs its busin sames (Q&A Games) runs its business from January I to December 31 year-end) Q&A Games pays $12.000 for a one-year insurance policy that covers January 1, 2017 December 31, 2017 Record the journal entries for the following: Con the inc ry on January 1, 2017, when Q&A Games pays for the insurance policy The following are independent situations. Assume Q&A Games reports using the following ac- ounting periods Monthly (1 month)-Assunte Q&A Games reports on a monthly basis. Record the adjusting journal entry on January 30, 2017 6. Quarterly (3 months)- Assume O Camos reports on t y basis. Record the adjusting journal entry on March 30, 2017 c Semi-annual (6 months) Assunte Q&A Games reports on a semiannual basis. Record the adjusting journal entry on June 30, 2017 d. Annual (12 months)-Assume Q&A Games reports on an annual basis. Record the adjusting journal entry on December 31, 2017 Exercise 3-10 Adjusting entries (monthly) After winning the TV show competition. Star Cher Adriana started a cooking school, Adriana's Apron Adriana Apron prepares monthly financial statements. The following are the transactions for the mont of September 2017 On January 1. 2017. Adriana took out a bank loan for 300.000 with an interest rate of 5% Interest is payable on the first day of each following month b. Students paid $30.000 in advance for cooking classes. At the end of the month. Adriana finished teaching 810.000 worth of cooking classes c. During the month. Adriana purchased supplies for her cooking classes such as meats and cheese for $5.000. At the end of the month a physical count shows that $1,000 of supplies are left d. on September 1. Adriana purchased a refrigerator costing $2.400. This equipment will be used for 5 years and then donated to the food bank e. Adriana was hired to reach at a food festival. She taught the "Secrets to Italian Cooking on September 30 and sent the festival organizers an invoice for $9,350. The invoice was paid in full on October 15, 2017 f. Adriana will pay salaries of $3.360 for two weeks (14 days) on October 7, 2017. At the end of the month nine days of salaries are unpaid and unrecorded Required For transactions (a) to (n. help Adriana prepare the adjusting entries on September 30.2017 Exercise 3-11 Unearned and accrued revenues Landmark Properties owns and operates an apartment building and prepares annual financial state. mens based on a March 31 fiscal year-end Required Journalize the adjusting entry for each of (a) and (b) and the subsequent entry required in (c) The tenants of one of the apartments paid five months rent in advance on November 1 2016. The monthly rental is $2.200 per month The journal entru credited the Uneamed Rent