E4.6 Determining Adjustments and Accounting Equation &facts ILO 4-1. L04-2) Fes Company is making adjusting, journal entries for the year ended December 31. 2013. In developing information for the adjusting journal entries. you learned the following: a. A two-year insurance premium of 06.300 was paid on January 1. 2013. for coverage beginning on that date. As of December 31.2013. the unadjusted balances were 56.300 for Prepaid Insurance and SO for Insurance Expense. 5. At December 31.2013. you obtained the following data relating to supplies. Unadjusted balance in Supplies on December 31.2013 S 10.500 Unadjusted balance in Supplies Expense on 31.2013 63.000 Supplies on hard. counted on December 31.2013 0.400 Required: 1. Of the 56.300 paid for insurance. what amount should be reported an the 2013 income statement as Insurance Expense? What amount should be reported on the December 31. 2013. balance sheet as Prepaid Insurance? Insurance Expense I Prepaid Insurance 2. What amount should be reported on the 2013 income statement as Supplies Expense? What amount should be reported on the December 31.2013. balance sheet as Supplies? Supplies Expense 3. Indicate the accounting equation effects of the adjustment required for (e) insurance and (0) supplies. (Enter all amounts as positive values.)