E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The following transactions relate to a magazine company called My Style Mag (MSM). Required: You will use your understanding of the relationships among (1) business activities, (2) accounting equation effects. (3) Journal entries. and (4) T-accounts to complete a four-part table out of which one part is already calculated. Items (a-i are independent of one another. Complete this question by entering your answers in the tabs below. Event A Event Event B Event Event Event Event Event E Event Event F Event F Event (a) 1. Given below the description of the business activity. On January 22, 2018, MSM received $24,000 cash from customers for one-year subscriptions to the magazine for February 2018 - January 2010 2. Complete the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets = Liabilities + Stockholders' Equity 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Account Title Debit Credit 4. Post the journal entries to the appropriate T-Accounts. (Enter transaction into T-accounts. Ignore beginning and ending balances.) Cash Accounts Receivable Deferred Revenue Event A Event B > Complete this question by entering your answers in the tabs below. Event A Events Event B Events Event e Event Evento Event D Events Event E Event Event F Event (b) 1. Complete the description of the business activity. MSM received utilities services at a cost of 2. Complete the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign) Assets Liabilities + Stockholders' Equity 3. Given below the appropriate journal entries. Account Title Debit Credit 3.000 Utilities Expense Accounts Payable 3.000 4. Post the journal entries to the appropriate T-Accounts (Enter transaction into T-accounts. Ignore beginning and ending balances.) Accounts Payable Utilities Expense Event A Event B Event Event D Event E Event F Event (c) 1. Complete the description of the business activity. On Feb 28, MSM provided of subscriptions for which it had previously received payment. 2. Given below the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities Deferred Revenue -2,000 + + Stockholders' Equity Subscription Revenue +2,000 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Account Title Debit Credit 4. Post the journal entries to the appropriate T-Accounts. (Enter transaction into T-accounts. Ignore beginning and ending balances.) Deferred Revenue Subscription Revenue Event A Event B Event Event D Event E Event F Event (c) 1. Complete the description of the business activity. On Feb 28, MSM provided of subscriptions for which it had previously received payment. 2. Given below the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities Deferred Revenue -2,000 + + Stockholders' Equity Subscription Revenue +2,000 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Account Title Debit Credit 4. Post the journal entries to the appropriate T-Accounts. (Enter transaction into T-accounts. Ignore beginning and ending balances.) Deferred Revenue Subscription Revenue Complete this question by entering your answers in the tabs below. Event A Event B Event Event Event D Event Event E Events Event F Event F Event (d) 1. Given below the description of the business activity. On March 31, 2018, MSM recorded an adjusting entry for the month's depreciation on equipment of $10,000. 2. Complete the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities + Stockholders' Equity 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Account Title Debit Credit 4. Post the journal entries to the appropriate T-Accounts. (Enter transaction into T-accounts. Ignore beginning and ending balances.) Accumulated Depreciation Equipment Depreciation Expense Equipment Complete this question by entering your answers in the tabs below. Event A Event B Event Event D Event E Event F Event (e) 1. Complete the description of the business activity On April 1, MSM paid - Trent in advance of obtaining e rent in advance of obtaining its benefits. 2. Complete the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets = Liabilities + Stockholders' Equity 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Account Title Debit Credit 4. Given below the appropriate T-Accounts. Cash Prepaid Rent 5.000 5.000 Complete this question by entering your answers in the tabs below. Event A Event a Event B Event Event c Event Event E Event F Event F Event (6) 1. Complete the description of the business activity On April 30, MSM billed customers for - of advertising services 2. Complete the accounting equation. (Select any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign) Assets Liabilities + Stockholders' Equity 3. Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Account Title Debit Credit 4. Given below the appropriate T-Accounts. Service Revenue Accounts Receivable 10,000 10,000