each of the following independent events requires a year end adjusting entry show 384714

Each of the following independent events requires a year end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. a. Paid $3,000 cash in advance on April 1 for a one year insurance policy. b. Purchased $1,600 of supplies on account. At years end, $100 of supplies remained on hand. c. Paid $6,000 cash in advance on March 1 for a one year lease on office space. d. Received a $15,000 cash advance for a contract to provide services in the future. The contract required a one year commitment starting September 1. e. Paid $12,000 cash in advance on October 1 for a one year lease on office space. (Leave no cells blank be certain to enter “0” wherever required. Amounts in parentheses do not require a minus sign in front of them. Omit the “$” sign in your response.) The Accounting Equation Total Assets Stockholders Equity Event/ Adjustment Cash + Other Assets = Liabilities + Common Stock + Retained Earnings a. () a. Adj.1 () () b. b. Adj.2 () () c. () c. Adj.3 () () d. d. Adj.4 () e. () e. Adj.5 () () 1 $ Af— / 12 = $ 2 $ ‘ = $ 3 $ Af— / 12 = $ 4 $ Af— / 12 = $ 5 $ Af— / 12 = $