Question Help Following is a partial list of financial statement items from the records of Eaton's Company at December 31, 2010, before any adjustments have been made: EE(Click the icon to view the list of financial statement items.) Additional information indludes the following: (Click the icon to view the additional information.) Requirements Requirement 1. Use the accounting equation to show the adjustments that must be made prior to the preparation of the financial statements for the year ended December 31, 2010. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines.) Enter each transaction below into the accounting equation. Some of the account names will be abbreviated. Begin with the first adjustment; The insurance policy indicates that on December 31, 2010, only four months remain on the 24-month policy that originally cost $16,800 (purchased on May 1, 2009). Shareholders' Equity iData Table Liabilities Contributed Capital Retained Earnings Assets + Account S Account unt $ count + + Prepaid insurance 11,200 + Prepaid rent 23,400 Eaton's has a note receivable with $3,500 of interest due from a customer on January 1, 2011. This amount has not been recorded. Interest receivable 0 Salaries payable 0 Shareholders' Equity Unearned revenue 39.000 Retained Earnings Assets Liabilities Contributed Capital + Interest revenue 17,000 Account $ Account Account Account Choose from any list or enter any number in the input fields and then continue to the next questlon. ? Print Done Eaton's has a note receivable with $3,500 of interest due from a customer on January 1, 2011. This amount has not been recorded. Shareholders' Equity Contributed Capital Retained Earnings Assets Liabilities + + $ Account Account Account Account + + + The accounting records show that two-third of the revenue paid in advance by a customer on July 1, 2010, has now been earned. Shareholders' Equity Contributed Capital Retained Earnings Liabilities Assets + + $ Account Account Account Account + + + + The company paid $23,400 for rent for nine months starting on September 1, 2010, recording the total amount as prepaid rent. Choose from any list or enter any number in the input fields and then continue to the next question The company paid $23,400 for rent for nine months starting on September 1, 2010, recording the total amount as prepaid rent. Shareholders' Equity Contributed Capital Retained Earnings Assets Liabilities Account Account Account Account S + + At year end, Eaton's owed $11,000 worth of salaries to employees for work done in December 2010. The next payday is January 5, 2011. The salary expense has not been recorded. Shareholders' Equity Contributed Capital Retained Earnings Assets Liabilities + + = $ $ $ Account Account Account Account + + + + Requirement 2. For the accounts shown, calculate the account balances that would be shown on Eaton's financial statements for the year ended December 31, 2010; balance sheet at December 31, 2010. Ending balance Prepaid insurance Prepaid rent Interest receivable Salaries payable Unearned revenue Interest revenue Fee income Rent expense Insurance expense Salaries expense