Problem 2-33 Effect of adjusting entries on the accounting equation LO 2-1, 2-2, 2-3, 2-4, 2-5, 2-(6 Required Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. The first event is recorded as an example. (Do not round intermediate calculations & Round your final answer to nearest whole dollar.) a. Paid $6,100 cash in advance on October 1 for a one-year insurance policy b. Received an $4,900 cash advance for a contract to provide services in the future. The contract required a one-year commitment, starting April 1. c. Purchased $1,850 of supplies on account. At year's end, $240 of supplies remained on hand d. Paid $11,160 cash in advance on August 1 for a one-year lease on office space The Accounting Equation Total Assets Stockholders' Equity Event/ Liabilities+ Common Other Retained Adjustment Cash Stock Assets Earnings 6,1001= (6,100) + a. Adj (1,525) (1,525) 4,900+ 4,900+ b. Adj 1,850 1,850+ C. c. Adj 11,160- d. Adj