Golden Eagle Company has the following balances at the end of the year before any adjustments:...

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Golden Eagle Company has the following balances at the end of the year before any adjustments: Balance Supplies Prepaid Insurance Salaries Payable Deferred Revenue $ 37,000 12,000 18,000 The following additional Information is known on December 31: 1. Supplies purchased during the year were recorded to the Supplies account. Supplies on hand at the end of December equal $4,000. 2. Insurance for 12 months was purchased on September 1 and recorded to Prepaid Insurance. 3. Salaries paid for the first 11 months of the year total $94,000. Salaries for December were $16,000 but have not been paid. 4. On December 1, Golden Eagle received $18,000 from a customer for rent for the period December through February and recorded Deferred Revenue at that time. By the end of December, one month of this rent has been provided. Rent Revenue for rent provided to other customers during the year totaled $70,000. Required: For each item, determine the accounts to be adjusted on December 31, the amount of the adjustment, and the ending balance. Assume no adjustments were previously made during the year. Note: Amounts to be deducted should be Indicated with a minus sign. 1. Account Supplies Supplies Expense Balance before adjustment $ 37,000 $ 0 December 31 Adjustment December 31 Ending balance $ 37,000 $ 0 2. Balance before adjustment December 31 Adjustment Insurance Expense $ 0 December 31 Ending balance $ 0 $ 0 3. Balance before adjustment $ 0 December 31 Adjustment December 31 Ending balance $ 0 $ 0 4. Balance before adjustment December 31 Adjustment December 31 Ending balance $ $ 0 Golden Eagle Company has the following balances at the end of the year before any adjustments: Balance Supplies Prepaid Insurance Salaries Payable Deferred Revenue $ 37,000 12,000 18,000 The following additional Information is known on December 31: 1. Supplies purchased during the year were recorded to the Supplies account. Supplies on hand at the end of December equal $4,000. 2. Insurance for 12 months was purchased on September 1 and recorded to Prepaid Insurance. 3. Salaries paid for the first 11 months of the year total $94,000. Salaries for December were $16,000 but have not been paid. 4. On December 1, Golden Eagle received $18,000 from a customer for rent for the period December through February and recorded Deferred Revenue at that time. By the end of December, one month of this rent has been provided. Rent Revenue for rent provided to other customers during the year totaled $70,000. Required: For each item, determine the accounts to be adjusted on December 31, the amount of the adjustment, and the ending balance. Assume no adjustments were previously made during the year. Note: Amounts to be deducted should be Indicated with a minus sign. 1. Account Supplies Supplies Expense Balance before adjustment $ 37,000 $ 0 December 31 Adjustment December 31 Ending balance $ 37,000 $ 0 2. Balance before adjustment December 31 Adjustment Insurance Expense $ 0 December 31 Ending balance $ 0 $ 0 3. Balance before adjustment $ 0 December 31 Adjustment December 31 Ending balance $ 0 $ 0 4. Balance before adjustment December 31 Adjustment December 31 Ending balance $ $ 0