Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work.

Dec 1 prepaid a 24 month insurance policy(coverage starting immediately) for $2,400 cash.

Dec 7 purchased supplies for $2,000 cash.

Dec13 agreed to do $10,000 worth of work for Telo over the next 30 days. payment is to be received when the work is completed on Jan 12.

Dec 24 received $4,000 cash in advance to perform work for ABX over the next four weeks.

Dec. 31 Year-End

Jan 5 paid wages of $800 csh to workers.

Jan 12 received $10,000 cash from Telo for work performed over the last 30 days

Additional Information as of December 31

Telo Job Completion at Year-End: Telo 60% Telo Complete

ABX Job Completion at Year-End:Abx 23% Complete

Supplies Remaining at Year-End:$700

Wages Earned By Workers but not yet Paid at Year-End:$500

1. For each December 31 adjusting entry, indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Liabilities + Assets -$100 Prepaid insurance Equity -$100 Insurance expense + + Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages d. Accrued Revenue e. Unearned Revenue + + + 2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Unadjusted Trial Balance Dr. Cr. 9,600 Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. 9,600 6,000 $ $ $ 6,000 | $ 700 No. Account Title 101 Cash 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 Common stock 404 Revenue 2,000 2,400 1,300 100 500 2,300 0 $ 1,000 4,000 10,000 of 500 3,000 10,000 7,000 1,000 6,000 | 0 0 623 Wages expense 637 Insurance expense 652 Supplies expense Total 5001 100 1,300 8,900 5001 100 1,300 20,500 $ 14,000 $ 14,000 $ $ 8,900 $ $ 20,500 1. For each December 31 adjusting entry, indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Assets Llabilities Equity -$100 Insurance expense -$100 Prepaid insurance Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages d. Accrued Revenue e. Uneamed Revenue 2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Adjustments Dr. Cr. Cr. No. Account Title 101 Cash $ Unadjusted Trial Balance Dr. 9,600 0 2,000 2,400 $ 6,000 $ Adiusted Trial Balance Dr. Cr. 9,600 6,000 700 2,300 $ 500 3,000 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 Common stock 404 Revenue NEL 1,3001 100 500 4,000 1.000 10,000 10.000 .000 1,000 6,000 623 500 637 100 Wages expense Insurance expense Supplies expense Total 500 100 1,300 8,900 652 1,300 20,500 14,000 $ 14,000 $ $ 8,900 $ $ 20,500 1. For each December 31 adjusting entry, indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Liabilities + Assets -$100 Prepaid insurance Equity -$100 Insurance expense + + Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages d. Accrued Revenue e. Unearned Revenue + + + 2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Unadjusted Trial Balance Dr. Cr. 9,600 Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. 9,600 6,000 $ $ $ 6,000 | $ 700 No. Account Title 101 Cash 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 Common stock 404 Revenue 2,000 2,400 1,300 100 500 2,300 0 $ 1,000 4,000 10,000 of 500 3,000 10,000 7,000 1,000 6,000 | 0 0 623 Wages expense 637 Insurance expense 652 Supplies expense Total 5001 100 1,300 8,900 5001 100 1,300 20,500 $ 14,000 $ 14,000 $ $ 8,900 $ $ 20,500 1. For each December 31 adjusting entry, indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Assets Llabilities Equity -$100 Insurance expense -$100 Prepaid insurance Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages d. Accrued Revenue e. Uneamed Revenue 2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Adjustments Dr. Cr. Cr. No. Account Title 101 Cash $ Unadjusted Trial Balance Dr. 9,600 0 2,000 2,400 $ 6,000 $ Adiusted Trial Balance Dr. Cr. 9,600 6,000 700 2,300 $ 500 3,000 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 Common stock 404 Revenue NEL 1,3001 100 500 4,000 1.000 10,000 10.000 .000 1,000 6,000 623 500 637 100 Wages expense Insurance expense Supplies expense Total 500 100 1,300 8,900 652 1,300 20,500 14,000 $ 14,000 $ $ 8,900 $ $ 20,500