Question

VIl. Adjusting Entries (17 points) . owing is an unadjusted trial balance for Han's Music The followin instruments and saxophone lessons. sole proprietor etorship specializing in band 12,780 24,840 850 2,800 Han's Music Unadjusted Trial Balance 31-Dec-2020 Cash Accounts Receivable Office Supplies Prepaid Insurance Notes Receivable Band Equipment Accumulated Depreciation Equipment Accounts payable Notes Payable Unearned revenues Han Dai, Capital Sales Revenues Salaries Expense Utilities Expense Rent Expense 13,920 6,000 2.680 1.820 12,000 3,860 25,480 57,800 33.000 1.750 7,700 103,640 103,640 Prepare the adjusting entries necessary as indicated in the westions 1.0 below. Space has been pro each entry. Clearly label your dcbits and credits. Explanations for the journal entries are not required. Any mathematical computations must be clearly shown to receive full credit All adjusting entries should be made as of 12/31/20. 1. The ending balance in the company's Office Supplies is $220. DATE ACCOUNT DEBIT CREDIT Insurance account is for a 14-month policy that was purchased on July 1" of this year, and no adjusting entries have been recorded to date. ACCOUNT DEBIT DATE CREDIT uipment is based on a year estimated useful life, with no salvage value 3. Depreciation on band equipment is based Depreciation for 2020 is 5000, but it has not been recorded DATE ACCOUNT DEBIT CREDIT

Answer 1

date	Accounts title	DR	CR
12/31/2020	Office supplies expenses	$630
	Office supplies		$630
	850-220
	beginning balance-ending balance of office supplies
12/31/2020	Insurance expenses	$1,200
	Prepaid insurance		$1,200
	2800/14 months x 6 months which is expired
12/31/2020	Depreciation expenses	$600
	Accumulated Depreciation-equipment		$600
if any doubt please comment