Assume it is now December 31, 2021, and Nicole has just completed her first year of operations at Nicole's Getaway Spa. After looking through her trial balance, she noticed that there are some items that have either not been recorded or are no longer up-to-date. a. Nicole's Getaway Spa is renting its space at a cost of $630 per month. On September 1, 2021, Nicole paid eight months' rent in advance using cash. This prepayment was recorded in the account Prepaid Rent back in September. b. The building, purchased at the beginning of the year for $50,000 cash, has estimated depreciation of $2,300 for 2021, but none has been recorded yet. c. Salaries and wages to the support staff at Nicole's Getaway Spa have been paid up to December 26, 2021. The support staff worked both December 27 and 28 and will be paid on January 5, 2022. Salaries and wages amount to $1,000 per day. The spa was closed December 29 to 31. d. The insurance policy, purchased on June 1 for $3,180 cash, provides coverage for 12 months. The part of the Insurance coverage for June to December has now been used up. e. The unadjusted amount in the Spa Supplies account was $2,300 at December 31, 2021, for supplies purchased on account. A year- end count showed $730 of supplies remain on hand. On the last day of December, a customer obtained spa services by using a $90 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded. Required: 1. For each of the items listed above, identify whether an accrual adjustment, a deferral adjustment, or no adjustment is required. 2. For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. 3. Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. Complete this question by entering your answers in the tabs below. Required: 1. For each of the items listed above, identify whether an accrual adjustment, a deferral adjustment, or no adjustment is required. 2. For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. 3. Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 For each of the items listed above, identify whether an accrual adjustment, a deferral adjustment, or no adjustment is required. Transaction Type of Adjustment 8 b. C d 0. f Required 1 Required 2 Required 3 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record renting of spa space at a cost of $630 per month. On September 1, 2021, Nicole paid eight months' rent in advance using cash. This prepayment was recorded in the account Prepaid Rent back in September. Note: Enter debits before credits. Transaction 8 General Journal Debit Credit View general journal Record entry Clear entry > Required 1 Required 2 Required 3 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 B Record the purchase of a building at the beginning of the year for $50,000 cash that has estimated depreciation of $2,300 for 2021, but none has been recorded yet. Note: Enter debts before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Required 3 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the entry for payment of Salaries and wages to the support staff at Nicole's Getaway Spa. The Salaries and wages have been paid up to December 26, 2021. The support staff worked both December 27 and 28 and will be paid. on January 5, 2022. Salaries and wages amount to $1,000 per day. The spa was closed December 29 to 31. Note: Enter debits before credits Transaction C General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Required 31 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the entry for insurance expense where an insurance policy, purchased on June 1 for $3,180 cash, provides coverage for 12 months. The insurance coverage since June has now been used up. Note: Enter debits before credits Transaction d General Journal Debit Credit View general journal Record entry Clear entry Required 1 Required 2 Required 3 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 4 5 6 Record the entry for spa supplies where the unadjusted amount in the Spa Supplies account was $2,300 at December 31, 2021, for supplies purchased on account. A year-end count showed $730 of supplies remain on hand. Note: Enter debits before credits. Transaction e. General Journal Debit Credit View general journal Clax anti Required 1 Required 2 Required 3 For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 5 6 Record the entry for the spa services obtained by a customer by using a $90 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded. Note: Enter debts before credits Transaction General Journal Debit Credit View general journal Required 1 Required 2 Required 3 Required 3 Prepare the adjusting journal entries mar should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.). View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the adjusting entry for the renting of spa space at the a cost of $630 per month. On September 1, 2021, Nicole paid eight months' rent in advance using cash. This prepayment was recorded in the account Prepaid Rent back in September Note: Enter debits before credits Transaction a General Journal Debit Credit Required 1 Required 2 Required 3 Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the adjusting entry for the purchase of a building at the beginning of the year for $50,000 cash, has estimated depreciation of $2,300 for 2021, but none has been recorded yet. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Required 1. Required 2 Required 3 Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the adjusting entry for the payment of Salaries and wages to the support staff at Nicole's Getaway Spa. The Salaries and wages have been paid up to December 26, 2021. The support staff worked both December 27 and 28 and will be paid on January 5, 2022. Salaries and wages amount to $1,000 per day. The spa was closed December 29 to 31. Note: Enter debits before credits Transaction General Journal Debit Credit > Required 1 Required 2 Required 3 Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 15 6 Record the adjusting entry for insurance expense where an Insurance policy, purchased on June 1 for $3,180 cash, provides coverage for 12 months. The Insurance coverage since June has now been used up. Note: Enter debits before credits Transaction General Journal Debit Credit d. Required 1 Required 2 Required 3 Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the adjusting entry for spa supplies where the unadjusted amount in the Spa Supplies account was $2,300 at December 31, 2021, for supplies purchased on account. A year-end count showed $730 of supplies remain on hand. Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1 Required 2 Required 31 Prepare the adjusting journal entries that should be recorded for Nicole's Getaway Spa at December 31, 2021, assuming that the items have not been adjusted prior to December 31, 2021. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 4 5 6 Record the adjusting entry for the spa services obtained by a customer by using a $90 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded. Note: Enter debits before credits. Transaction f General Journal Debit Credit