Prepare the annual adjusting journal entries for the year ended December 31^st 2014 for Van De Lay Industries for each of the following independent situations in (a) to (g).

A. The balance in the Supplies account on December 31^st before year-end adjustments is $5,528. A physical count of supplies, however, reveals that the amount of supplies on hand on December 31^st is $1,742 Prepare the December 31^st 2014 year end adjusting entry.

B. On May 1^st 2014, purchased a two-year insurance policy for its buildings for $11,496 paying the full amount at that time. Prepare the year end adjusting entry for December 31^st 2014.

C. On June 1^st 2014 signed a one-year lease to rent a building for $67,512 and paid the amount in full at that time. Prepare the December 31^st 2014 year end adjusting entry.

D. On September 1^st 2014, Van De Lay agreed to lease some unused office space to a tenant for a one-year period and received $74,472 in advance. Prepare the December 31^st 2014 year end adjusting entry.

E. Van De Lay provides professional services to its clients and charges them an hourly rate. Clients are billed on the 15^th day of every month. As at December 31^st 2014, the company provided services to six clients which have not been billed. The company performed 425 hours of service for each client at a rate of $140. Prepare the December 31^st 2014 adjusting entry.

6. The employees Elaine, George and Newman are paid every Friday. The company has a 5 day work week which runs from Monday to Friday and totals $3,000 and the last time the company paid the employees was on Friday December 27^th. Prepare the December 31^st 2014 adjusting entry.

7. On January 1^st 2014 the company purchased assets totaling $216,260 that will depreciate at $10,813 each year. Prepare the December 31^st 2014 adjusting entry.