Homework 4 Saved 9 a. The unadjusted balance in Supplles was $990 at December 31, 2015. The unadjusted balance in Supplies Expense was $0 at December 31, 2015. A year-end count showed $170 of supplies on hand. b. Wages earned by employees during December 2015, unpald and unrecorded at December 31, 2015, amounted to $4,400. The last paychecks were Issued December 28; the next payments will be made on January 6, 2016. The unadjusted balance in Salartes and Wages Expense was $47,000 at December 31, 2015. C. A portion of the store's basement Is now being rented for $1,800 per month to K. Frey On November 1, 2015, the store collected stx months' rent in advance from Frey in the amount of $10,800. It was credited In full to Unearned Revenue when collected. The unadjusted balance In Rent Revenue was $0 at December 31, 2015. d. The store purchased delivery equipment at the beginning of the year. The estimated depreciation for 2015 is $2,700, although none has been recorded yet. e. On December 31, 2015, the unadjusted balance in Prepald Insurance was $3,280. This was the amount pald In the middle of the year for a two-year Insurance policy with coverage beginning on July 1, 2015. The unadjusted balance in Insurance Expense was $670, which was the cost of insurance from January 1 to June 30, 2015 f Jaworski's store did some ski repair work for Frey. At the end of December 31, 2015, Frey had not paild for work completed amounting to $820. This amount has not yet been recorded as Service Revenue. Collection is expected during January 2016. 10 points eBook Hint Print References Required For each of the transactions, Indicate the amount and direction of effects of the adjusting Journal entry on the elements of the accounting equation. Using the following format Indicate for Increase for the following sample. (Enter any decreases to Assets, Llabilities, or Stockholders Equity with a minus slgn.) for decrease. Include accournt names using the format shown Transaction Assets Liabilites Supplies (820) h depreciation for 2015 is $2,700, although none has been recorded yet e. On December 31, 2015, the unadjusted balance in Prepald Insurance was $3,280. This was the amount pald In the middle of the year for a two-year insurance policy with coverage beginning on July 1, 2015. The unadjusted balance in Insurance Expense was $670, which was the cost of Insurance from January 1 to June 30, 2015. t Jaworski's store did some skd repair work for Frey. At the end of December 31, 2015, Frey had not paid for work completed amounting to $820. This amount has not yet been recorded as Service Revenue. Collection Is expected during January 2016. Required: For each of the transactions, Indicate the amount and direction of effects of the adjusting Journal entry on the elements of the accounting equation. Using the folowing format, tndicate+ for Increase, - for decrease. Include account names using the format shown for the following sample. (Enter any decreases to Assets, Llablities, or Stockholders Equity with a minus sign.) Transaction Stockholder's Equity Assets Liabilites Supplies Expense Supplies (820) Next