need help filling in the tabel a-e from questions a-e please help
Adjusting Journal Entries Assignment (2) Enable Editing Layout References Mailings Review View Help the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. 1. Prepare any necessary adjusting journal entries on December 31, 2017, in relation to transactions and events a through e. Reminder -- Each journal entry should have a description 2. Prepare T-accounts for the accounts affected by the adjusting entries, and post the adjusting entries. Determine the adjusted balances for the Unearned Services Revenue and the Prepaid Insurance accounts. 3. Complete the table provided in Excel (example is shown below) and determine the amounts and effects of your adjusting entries on the year 2017 income statement and the December 31, 2017 balance sheet. Use the word "increase" to indicate an increase in the "Effect on" columns and include the amount of the increase. Use the word "decrease" to indicate a decrease in the "Effect on" columns and include the amount of the decrease. Enter "No effect" in the "Effect on" columns if the entry does not have an effect on the financial statement. I Amount of the entry Effect on Net Income Effect on Total Assets Effect on Total Liabilities Effect on Total Equity Entry a b d Tips for Planning the Solutions for each requirement: . Analyze each event (a through e) to determine which accounts need to be updated with an adjustment Focus O e a. The company's modulely payroll is $8,750, paid each Friday for a five-day workmodule. Assume December 31, 2017, falls on a Monday, but the employees will not be paid their wages until Friday, January 4, 2018. b. Eighteen months earlier, on July 1, 2016, the company purchased equipment that cost $20,000. Its useful life is predicted to be five years, at which time the equipment is expected to be worthless (zero salvage value). c. On October 1, 2017, the company agreed to work on a new housing development. The company is paid $120,000 on October 1 in advance of future installation of similar alarm systems in 24 new homes. The $120,000 was credited to the Uneared Services Revenue account Between October 1 and December 31, work on 20 homes was completed. ACCT110 - Adjusting Journal Entries d. On September 1, 2017, the company purchased a 12-month insurance policy for $1,800 The transaction was recorded with an $1,800 debit to Prepaid Insurance e. On December 29, 2017, the company completed a $7,000 service that has not been billed or recorded as of December 31, 2017 D. Focus D M D d