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Armez Company's annual accounting petiod ends on December 31 . The following Information concerns the adjusting entries to be tecorded as of that date. 6. The Oftice Supplies account started the year with a $4,000 balance. During the year, the company purchased supplies for $13,400. which was added to the Oifice Supplies account. The inventory of supplies avallable at December 31 totaled $2,554. b. The Prepaid insurance account had a $20,000 debit balance at December 31 before adjusting for the costs of any explred coverage for the year. An analysis of prepaid insurance shows that $12.880 of unexpled insurance coverage remains at year-end. c. The company has 15 employees, who earn a total of $1,960 in solaries each working day. They are pald each Monday for their work in the five diyy workweek ending on the previous Fiday. Assurne that December 31 is a Fuesdoy, and all 15 employees worked the fist two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday. January 6 of next year d. The company purchased a bulding at the beginning of this year. it cost $960,000 and is expected to have a $45,000 saivage value at the end of its predicied 30-year ilfe. Annual depreciation is $30,500. e. Since the corrpany 5 not large enough to occupy the entire bilding it owns, it rented space to a tenant at $3,000 per month, starting on November 1 . The rent was paid on time on November 1 , and the amount received was credited to Rent Revenue. However, the teiant has not paid the December ient. The company has worked out an ogreement with the tenant, who has promeibed to pay both December and Janwary ient in full on danuary 31 . 1. On Novenber t the company rented space to another tenant for $2.800 per mocut. The tenant paid five months' rent in advance on that date. The payment was recorded with a credit to the Uneained Revenue account. Assume no other adkrting emties are maor daring the yeat Required: 1.Use the intommation to peepare adjusting enities as of December at. 2. Hepore lournal emaies to tecord ihe fint sutsequant cash transaclon in January of the next year for parts cande Armez Company's annual accounting petiod ends on December 31 . The following Information concerns the adjusting entries to be tecorded as of that date. 6. The Oftice Supplies account started the year with a $4,000 balance. During the year, the company purchased supplies for $13,400. which was added to the Oifice Supplies account. The inventory of supplies avallable at December 31 totaled $2,554. b. The Prepaid insurance account had a $20,000 debit balance at December 31 before adjusting for the costs of any explred coverage for the year. An analysis of prepaid insurance shows that $12.880 of unexpled insurance coverage remains at year-end. c. The company has 15 employees, who earn a total of $1,960 in solaries each working day. They are pald each Monday for their work in the five diyy workweek ending on the previous Fiday. Assurne that December 31 is a Fuesdoy, and all 15 employees worked the fist two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday. January 6 of next year d. The company purchased a bulding at the beginning of this year. it cost $960,000 and is expected to have a $45,000 saivage value at the end of its predicied 30-year ilfe. Annual depreciation is $30,500. e. Since the corrpany 5 not large enough to occupy the entire bilding it owns, it rented space to a tenant at $3,000 per month, starting on November 1 . The rent was paid on time on November 1 , and the amount received was credited to Rent Revenue. However, the teiant has not paid the December ient. The company has worked out an ogreement with the tenant, who has promeibed to pay both December and Janwary ient in full on danuary 31 . 1. On Novenber t the company rented space to another tenant for $2.800 per mocut. The tenant paid five months' rent in advance on that date. The payment was recorded with a credit to the Uneained Revenue account. Assume no other adkrting emties are maor daring the yeat Required: 1.Use the intommation to peepare adjusting enities as of December at. 2. Hepore lournal emaies to tecord ihe fint sutsequant cash transaclon in January of the next year for parts cande