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ured#lockdow!! DAMS) The following selected account balances are taken from a company's trial balances on June 2021. The unadjusted columns set for the general ledger
ured#lockdow!! DAMS) The following selected account balances are taken from a company's trial balances on June 2021. The unadjusted columns set for the general ledger balances before the adjusting entries were posted. The adjusted" entries reflect the month-end adjusting entries. Cir laadjusted Debill 57.620 LA 220 Adjusted Devil Candir 0 1.100 SI 160 A Ticke Phyudi Odliskan hand Amipramini Amund pale Unarmed Mits path Lures arabe 26 2.1CM Answer the following questions: a. The company purchased a 36-month insurance policy on June 1, 2020. Reconstruct the adjusting journal entry for insurance on June 30, 2021. (Assume the company adjusts its books monthly.) b. What was the original cost of the insurance policy The company purchased office supplies on account amounting to $5,300 in June. Reconstruct the adjusting journal entry for office supplies for June 30, 2021. d. The company's Accounts Payable account is used only for office supplies. How much cash did the company pay its suppliers for June? e The equipment was purchased on February 1, 2020 for $9,600. The company uses straight-line depreciation and estimates that the equipment will have no salvage value. Reconstruct the journal entry for depreciation on June 30, 2021. f. What is the equipment's estimated useful life in number of months? &. The company signed a contract providing a year's worth of services for a customer and received cash in advance on February 1, 2021. Reconstruct the journal entry on June 30, 2021 for unearned revenues h. How would assets, liabilities, and equity be affected if the adjusting entry for unearned revenues was inadvertently omitted? i. The company signed a two-year note payable on Feb. 1, 2020, for the purchase of equipment. Interest on the note accrues on a monthly basis and will be paid at maturity along with the principal amount of $9,600. Reconstruct the adjusting entry for interest on June 30, 2021. 7. What is the annual interest rate on the loan
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