equired: 1. Record the adjusting entry for advertisements at March 31 of the current year. 2. Record the adjusting entry for the use of construction equipment during the current year. 3. What amounts should be reported on the current year's income statement for the following items? 4. What amounts should be reported on the current year's balance sheet for the following items? Complete this question by entering your answers in the tabs below. What amounts should be reported on the current year's income statement for the following items? Journal entry worksheet Record the adjusting entry for the use ofthe construction equipment at March 31. Note: Enter debats before credits. 1. Record the adjusting entry for advertisements ot March 31 of the current year. 2. Record the adjusting entry for the use of construction equlpment during the current year. Note: if no entry is required for a transactionvevent, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry for advertising at March 31, assuming that the advertising purchased during the current year was debited in full to the account Prepaid Advertising. Note: Enter debits before credits. Gauge Construction Company is making adjusting entries for the year ended March 31 of the current year. In developing information for the adjusting entries, the accountant learned the following: a. The company paid $4,100 on January 1 of the current year to have advertisements placed in the local monthly neighborhood paper. The ads were to be run from lanuary through June. The bookkeeper debited the full amount to Prepaid Advertising on January 1. b. At March 31 of the current year, the following data relating to Construction Equipment were obtained from the records and supporting documents. Required: 1. Record the adjusting entry for advertisements at March 31 of the current year: 2. Record the adjusting entry for the use of construction equipment during the current year. 3. What amounts should be reported on the current year's income statement for the following items? 4. What amounts should be reported on the current year's balance sheet for the following items? Complete this question by entering your answers in the tabs below. 1. Record the adjusting entry for advertisements at March 31 of the current year. 2. Record the adjusting entry for the use of construction equipment during the current year neighborhood paper. The ads were to be run from January through June. The bookkeeper debited the full amo Prepaid Advertising on January 1. b. At March 31 of the current year, the following data relating to Construction Equipment were obtained from th supporting documents. 1. Record the adjusting entry for advertisements at March 31 of the current year. 2. Record the adjusting entry for the use of construction equipment during the current year. 3. What amounts should be reported on the current year's income statement for the following items? 4. What amounts should be reported on the current year's balance sheet for the following items? Complete this question by entering your answers in the tabs below. What amounts should be reported on the current year's balance sheet for the following items
