can someone help and explain to me how to do all these problems?

Following are three separate transactions that pertain to prepaid items. Evaluate each item and prepare the journal entries that would be needed for the initial recording and subsequent end-of-20X3 adjusting entry. Assume the company uses the balance sheet approach, and the initial recording is to an asset account. The company has a calendar year-end and does not make any adjusting entries prior to December 31. (1) (2) (3) The company purchased an 18-month insurance policy for $18,000 on June 1, 20X3. The company started 20X3 with $20,000 in supplies (this was previously recorded, and you do not need to make an entry for the beginning balance), purchased $30,000 in supplies during the year, and found only $13,000 in supplies on hand at the end of 20X3. The company paid $2,500 to rent a truck. The rental period began on December 16, 20X3, and ends on February 14, 20X4. GENERAL JOURNAL Date 1-Jun Accounts Prepaid insurance Debit 18,000 Cash 31-Dec Credit 18,000 Insurance Expense 7,000 Prepaid Insurance 7,000 GENERAL JOURNAL Date Accounts Debit Credit Accounts Debit Credit various 31-Dec GENERAL JOURNAL Date 16-Dec 31-Dec 15 Mohamed Bakar Alidini recently formed a business in the Republic of Yemen to process liquefied natural gas for export to other countries. Natural gas can be converted to a liquid by cooling it to -163 degrees Celsius. It then assumes a highly compressed state and can be transported by specially designed cryogenic vessels. Mohamed's business invested 80,000,000 (Yemeni Rials/YER) in a cooling/containment chamber with a 4year life. The chamber will have no remaining value at the end of the 4-year period. (a) Prepare journal entries to record annual depreciation for each of the four years, assuming Alidini uses the straight-line method. (b) Show how the annual depreciation will appear in each year's income statement. (c) Show how the asset, and related accumulated depreciation, will appear in each year's balance sheet. GENERAL JOURNAL Date 20X1 20X2 20X3 20X4 Accounts Debit Credit ALIDINI CORPORATION Income Statement For the Year Ending December 31, 20X1 ... Expenses ... Depreciation ... ALIDINI CORPORATION Balance Sheet December 31, 20X1 Assets ... Cooling chamber Less: Accumulated depreciation ... ALIDINI CORPORATION Income Statement For the Year Ending December 31, 20X2 ... Expenses ... Depreciation ... ALIDINI CORPORATION Balance Sheet December 31, 20X2 Assets ... Cooling chamber Less: Accumulated depreciation ... ALIDINI CORPORATION Income Statement For the Year Ending December 31, 20X3 ... Expenses ... Depreciation ... ALIDINI CORPORATION Balance Sheet December 31, 20X3 Assets ... Cooling chamber Less: Accumulated depreciation ... ALIDINI CORPORATION Income Statement For the Year Ending December 31, 20X4 ... Expenses ... Depreciation ... ALIDINI CORPORATION Balance Sheet December 31, 20X4 Assets ... Cooling chamber Less: Accumulated depreciation ... Stargate Publishing issues the Weekly Window. The company's primary sources of revenue are sales of subscriptions to customers and sales of advertising in the Weekly Window. Stargate owns its building and has excess office space that it leases to others. The following transactions involved the receipt of advance payments. indicated journal entries for each set of transactions. Prepare the (1) On September 1, 20X5, the company received a $24,000 payment from an advertising client for a 6-month advertising campaign. The campaign was to run from November, 20X5 through the end of April, 20X6. Prepare the journal entry on September 1 and the December 31 end-of-year adjusting entry. (2) The company began 20X5 with $120,000 in unearned revenue relating to sales of subscriptions for future issues. During 20X5, additional subscriptions were sold for $1,230,000. Magazines delivered during 20X5 under outstanding subscriptions totaled $1,020,000. Prepare a summary journal entry to reflect the sales of subscriptions and the end-of-year adjusting entry to reflect magazines delivered. (3) The company received a $3,000 rental payment on December 16, 20X5 for the period running from mid-December to Mid-January. Prepare the December 16 journal entry as well as the December 31 end-of-year adjusting entry. GENERAL JOURNAL Date Accounts Debit Credit Accounts Debit Credit Accounts Debit Credit 1-Sep 31-Dec GENERAL JOURNAL Date various 31-Dec GENERAL JOURNAL Date 16-Dec 31-Dec Creative Hearing Technologies of London recently introduced a Bluetooth-enabled hearing aid that allows hearing-disabled users to not only hear better, but also interface with their cell phones and digital music players. The company reports the following four transactions and events related to December of 20X7 and is seeking your help to prepare the end-of-year adjusting entries needed at December 31. (1) On December 1, the company borrowed 10,000,000 at an 8% per annum interest rate. The loan, and all accrued interest, is due in 3 months. (2) Early in December, the company licensed its new technology to Apple Bites Computer, Inc., for use in Apple's existing product lines. The agreement provides for a royalty payment from Apple to Creative based on Apple's sales of products using the licensed technology. As of December 31, 45,000 is due under the agreement for actual sales made by Apple to date. (3) Creative pays many employees on an hourly basis. As of December 31 there are 5,320 unpaid labor hours already worked at an average hourly rate of 17. (4) The company estimates that utilities used during December, for which bills will be received in January, amount to 20,000. GENERAL JOURNAL Date 31-Dec 31-Dec 31-Dec 31-Dec Accounts Debit Credit Berry Corporation prepared the following preliminary trial balance. The trial balance and other information was evaluated by Delton Wiser, CPA. Delton has returned a list of proposed adjustments that are necessary to facilitate preparation of correct financial statements for the year ending December 31, 20X3. BERRY CORPORATION Trial Balance December 31, 20X3 Debits Cash $ Accounts receivable Credits 30,540 $ - 45,000 - 7,000 - 244,500 - Accumulated depreciation - 46,500 Accounts payable - 12,700 Unearned revenue - 31,250 Notes payable - 80,000 Capital stock - 100,000 Retained earnings, Jan. 1 - 63,200 Dividends 12,000 - Revenues - 289,800 214,600 - 8,700 - Selling expense 41,610 - Depreciation expense 12,000 - 7,500 - Supplies Equipment Wages expense Utilities expense Interest expense $ 623,450 $ 623,450 Delton discovered that 40% of the unearned revenue appearing in the trial balance had actually been earned as of the end of the year. A physical count of supplies on hand revealed a year-end balance of only $3,000. Unpaid and unrecorded invoices for utilities for December amounted to $1,500. The last payday was December 26. Employees are owed an additional $3,900 that has not been recorded. Additional depreciation of $3,100 needs to be recorded. (a) Prepare journal entries relating to the adjustments. (b) Prepare an adjusted trial balance (you might utilize a partial worksheet for this task, as shown in the downloadable form). (c) Prepare an income statement and statement of retained earnings for 20X3, and a classified balance sheet as of the end of the year. (d) Berry's bookkeeper argued with Delton that there was no need to record the adjustments since they have no "net" effect on income. Evaluate whether this observation is true of false, and comment on the appropriateness of this logic. GENERAL JOURNAL Date Page Accounts Debit Credit BERRY CORPORATION Worksheet for Adjusted Trial Balance December 31, 20X3 Trial Balance Debits Cash Adjustments Credits Debits Adjusted Trial Balance Credits Debits Credits $30,540 - - - - - 45,000 - - - - - 7,000 - - - - - 244,500 - - - - - Accumulated depreciatio - $46,500 - - - - Accounts payable - 12,700 - - - - Utilities payable - - - - - - Wages payable - - - - - - Unearned revenue - 31,250 - - - - Notes payable - 80,000 - - - - Capital stock - 100,000 - - - - Retained earnings, Jan. 1 - 63,200 - - - - Dividends 12,000 - - - - - Revenues - 289,800 - - - - 214,600 - - - - - 8,700 - - - - - Selling expense 41,610 - - - - - Depreciation expense 12,000 - - - - - - - - - - - 7,500 - - - - - ### $ - Accounts receivable Supplies Equipment Wages expense Utilities expense Supplies expense Interest expense ### $ - $ - $ - BERRY CORPORATION Income Statement For the Year Ending December 31, 20X3 Revenues Services to customers $ - Expenses Wages $ - Utilities - Selling - Depreciation - Supplies - Interest - Net income $ - $ - BERRY CORPORATION Statement of Retained Earnings For the Year Ending December 31, 20X3 Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - $ - BERRY CORPORATION Balance Sheet December 31, 20X3 Assets Current assets Cash $ - Accounts receivable - Supplies - Property, plant & equipment Equipment $ Less: Accumulated depreciation - Total assets $ - $ - Liabilities Current liabilities Accounts payable $ - Utilities payable - Wages payable - Unearned revenue - Long-term liabilities Notes payable - Total liabilities $ - Stockholders' equity Capital stock Retained earnings $ - Total stockholders' equity Total liabilities and equity (d) $