Question 2 Adjusting entries (10 marks) For each of the following scenarios, indicate what amount will be shown on the financial statements using the suggested format below. Be sure to include both the account name and the amount (2 marks each). Balance Sheet effect Income Statement effect a. b. a. Dubai Expo has received AED 300,000 for 6 months' rent in advance from the India Pavilion. At the time of preparing the financial statements, 2 months have passed. Record this from the point of view of Dubai Expo. b. Souvenir Retail Express (SRE) paid AED 90,000 to rent a small stand at the Dubai Expo for 6 months. At the time of preparing the financial statements, I month has passed. Record this from the point of view of SRE. c. Fly Dubai has received and recorded cash in advance for tickets for Dubai Expo for AED 750,000. At the time of preparing the financial statements, 20% of the flights have taken place. d. ABC Contracting signed a contract with Dubai Expo to build a special booth for AED 50,000. At the time of preparing the financial statements, ABC has not received any cash and has not started working on the project. e. Fly Dubai purchased Supplies for AED 11,000. At the end of the month, they estimate that AED 3,000 worth of supplies are left on hand. a