I need help with transaction b

E nemannectmhedvcatinn.cum Cl 0 E ET] I Ch 03 Homework 0 Saved Help Save 8 Exit Submit Cnec k my work Problem 3-2A Preparing adjusting and subsequent journal entries LO A1. P1 20 Arnez Company's annual accounting period ends on December 31. 2013'. The following information concerns the adjusting entries to points be recorded as of that date. a. The Ofce Supplies account started the year with a $4.275 balance. During 2017, the company purchased supplies for $12656. which was added to the Office Supplies account. The inventory of supplies avaiiable at December 31. 2017. totaled $3.762. g b. An analysis of the company's insurance policies provided the following facts. eEauk 6 Months of W Policy Data of Purchase Dovrage Cost: \"" a April 1, 2015 24 $11,544 E April 1r 2016 36 10,296 C An us: 1, 2a]? 12 9,144 \"vi 9 References The total premium for each policy was paid in full (forali 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 'iS employees, who earn a total of $2,400 in salaries each working day. They are paid each Monday for their work in the ve-day workweek ending on the previous Friday. Assume that December 31, 2017. is a Tuesday. and ail 'iS employees worked the rst two days ofthat week. Because New Year's Day is a paid holiday. they will be paid salaries for five full days on Monday' January 6. 2018. d. The company purchased a building on January 1, 2017. It cost $610,000 and is expected to have a $45,000 salvage value at the end of its predicted 25-year life. Annuai depreciation is $22,600. 2. Since the company is not large enough to occupy the entire building it owns. it rented space to a tenant at $3.400 per month, starting on November'l, 2017. The rent was paid on time on November'i, and the amount received was credited to the Rent Earned account. However, the tenant has not paid the December rent. The company has worked out an agreement with the tenant, who has promised to pay both December and January rent in full on January'lS. The tenant has agreed not to fall behind again. f. 0n Novembert, the company rented space to another tenant for $3,080 per month. The tenant paid ve months' rent in advance on that date. The payment was recorded with a credit to the Unearned Rent account. Required: 1. Use the information to prepare adjusting entries as of December 31. 2017. 2. Prepare journal entries to record the rst subsequent cash transaction in 2018 for parts cand e. newconnect.mheducation.com X + Ch 03 Homework i Saved Help Save & Exit Submit Check my work 3 Complete this question by entering your answers in the tabs below. 20 points Required 1 Required 2 Use the information to prepare adjusting entries as of December 31, 2017. eBook View transaction list View journal entry worksheet (X No Transaction General Journal Debit Credit Print a Office supplies expense 18,169 Office supplies 18,169 References 2 b. Insurance expense Prepaid insurance 3 C. Salaries expense Salaries payable 4 d. Depreciation expense-Building Accumulated depreciation-Building 5 e. Rent receivable Rent earned 6 f. Unearned rent Rent earned Mc Graw