Vaden Company reported revenue of $85,000 and expenses of $58,000 for the year ended December 31, 2018, before making any year-end adjusting entries. The following data are provided regarding adjusting entries:

1. On October 1, 2018, Vaden Company paid $13,500 for one years liability insurance beginning on that date. The rent payment was recorded as follows:

October 1, 2018:

Prepaid insurance $13,500

Cash $13,500

2. On November 1, 2018, Vaden purchased office supplies that cost $800 and placed the supplies in a storeroom for use as needed. The purchase was recorded as follows:

November 1, 2018:

Office supplies inventory $800

Cash $800

At December 31, 2018, a count showed unused office supplies of $270 in the storeroom. At the beginning of 2018, there was $135 worth of office supplies on hand.

3. As of December 31, 2018, there was $8,600 in payroll costs related to work that had been performed during December 2018. These wages will not be paid until the next payroll date which is January 7, 2019.

4. On December 1, 2018, Vaden rented some office space to another party. Vaden collected $800 rent for the two month period December 1, 2018 to February 1, 2019. The rent collected was recorded as follows:

December 1, 2018:

Cash $800

Unearned revenue 800

5. On December 31, 2018 a tenant renting some storage space from Vaden had not paid the rent of $250 for December 2018. This has not been recorded.

Prepare the required adjusting entries for each of these situations. Note that an adjusting entry is required for each item.

Please Provide a step-by-step solution in a structured manner like a pro.

Thanks in advance