i 6 a. The Office Supplies account started the year with a $3,375 balance. During 2017, the company purchased supplies for $13,939, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2017, totaled $2,970. b. An analysis of the company's insurance policies provided the following fects 10 polnes April 1, 2015 eBook Print References 24 36 12 $11, 400 10, 224 9,000 B April 1, 2016 Auguat 1, 2017 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years) c. The company has 15 employees, who earn a total of $2,250 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2017, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full deys on Monday, January 6, 2018 d. The company purchased a building on January 1,.2017.cost 5895000 and is expected to have a S$45,000 salvege vblue at the e. Since the company is not large enough to occupy the entire building it owns. it rented space to a tenant at $3,200 per month end of its predicted 25 year life. Annual depreciation is $34,000 starting on November 1, 2017. The rent was paid on time on November 1, and the amount received was credited to the Rent Earned account. However, the tenant has not paid the December rent. The has promised to pay both December and January rent in full on January 15. The tenant has agreed not to fall behind again. company hes worked out an agreement with the tenant, who f. On November 1, the company rented space to another tenant for $2,899 per month. The tenant paid five months' rent in advance on thot date. The payment was recorded with a credit to the Uneaned Rent account K Prev6 of 9! Next> Exercises and Problems Required: 1. Use the Information to prepare adjusting entries as of December 31, 2017, 2 Prepare journal entries to record the first subsequent cash transaction in 2018 for parts cand e Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the information to prepare adjusting entries as of December 31, 2017 View transaction list Journal entry worksheet The Office Supplies account started the year witha $3.375 balance. During 2017, the company purchased supplies for $13.939, which was added to the Office Supplies account. The inventory of supplies available at December 31 2017, totaled $2.970. Noter Enter debics before credits ransaction General Journal Debit Credit Prev6 of 9 Next oe re to search i 6 a. The Office Supplies account started the year with a $3,375 balance. During 2017, the company purchased supplies for $13,939, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2017, totaled $2,970. b. An analysis of the company's insurance policies provided the following fects 10 polnes April 1, 2015 eBook Print References 24 36 12 $11, 400 10, 224 9,000 B April 1, 2016 Auguat 1, 2017 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years) c. The company has 15 employees, who earn a total of $2,250 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2017, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full deys on Monday, January 6, 2018 d. The company purchased a building on January 1,.2017.cost 5895000 and is expected to have a S$45,000 salvege vblue at the e. Since the company is not large enough to occupy the entire building it owns. it rented space to a tenant at $3,200 per month end of its predicted 25 year life. Annual depreciation is $34,000 starting on November 1, 2017. The rent was paid on time on November 1, and the amount received was credited to the Rent Earned account. However, the tenant has not paid the December rent. The has promised to pay both December and January rent in full on January 15. The tenant has agreed not to fall behind again. company hes worked out an agreement with the tenant, who f. On November 1, the company rented space to another tenant for $2,899 per month. The tenant paid five months' rent in advance on thot date. The payment was recorded with a credit to the Uneaned Rent account K Prev6 of 9! Next> Exercises and Problems Required: 1. Use the Information to prepare adjusting entries as of December 31, 2017, 2 Prepare journal entries to record the first subsequent cash transaction in 2018 for parts cand e Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the information to prepare adjusting entries as of December 31, 2017 View transaction list Journal entry worksheet The Office Supplies account started the year witha $3.375 balance. During 2017, the company purchased supplies for $13.939, which was added to the Office Supplies account. The inventory of supplies available at December 31 2017, totaled $2.970. Noter Enter debics before credits ransaction General Journal Debit Credit Prev6 of 9 Next oe re to search