Please submit your solution to problem in an excel file thorugh blackboard.

Ex-1. Cost Apportionment On April 1, 2022. Sara Lee Company paid the rent on the building it occupies for one year in advance. The amount was$9,600. a. Assuming Sara Lee's accounting year ends on December 31, how much of this $9,600 should be reported as rent expense in 2022 ? In 2023 ? b. How much of this $9,600 should be reported on the balance sheet as Prepaid Rent on December 31. 2022 ? December 31, 2023? c. Assume that when the rent w as paid. Prepaid Rent was debited of $9,600. Give the adjusting entry required on December 31,2022 assuming adjusting entries are made annually. Ex-2. Revenue Apportionment On Dotober 1, 2022, Atlas Company received $15,000 from one of its customers as a prepayment for 12 months of management services. Atlas accounting year ends on December 31. a. How much of the $15,000 should be reported as Management Fee Revenue on the December 31, 20122 income statement? On December 31, 2023 income statement? b. How much of the $15,000 should be reported as Unearned Management Fee on the December 31, 2022 balance sheet? On December 31, 2023 balance sheet? c. Assume that when the $15,000 was received, Atlas credited the Unearned Management Fees acoount for the entire amount and that adjusting entries are made annually, what adjusting entry should be made on December 31, 2022 ? C. Ex-1 The following information pertains to the Stafford Company as of December 31, 2022. Assuming that Stafford Company does not prepare monthly adjusting entries, prepare the appropriate year-end adjusting entry for each case: 1. DnFebruary 1 of the current year Stafford paid $4,500 in advance for a 12 -month advertising campaign. Stafford debited Prepaid Advertising for the entire amount when it was paid. 2. Dn May 1 of this year one of Stafford's customers paid $2,040 in advance for one year of services. Equal amounts of services are performed each month. Stafford credited Service Revenue when the money was received. 3. - Dn June 30 of the current year, the company paid $18,000 for a one-year fire insurance policy. The amount paid was charged to lnsurance expense at that time. 4. The Dffice Supplies account has a debit balance of $3,120. A physical count of office supplies on December 31 showed that there w as only $2,090 worth of supplies on hand. 5. Stafford owns the building it occupies. It cost $57,600 when it was acquired. At the time it was purchased several years ago, its estimated useful life was 20 years with no salvage value. Depreciation is caloulated on a straight-line basis. 6. Stafford owed interest on notes payable to the bank amounting to $1,800. The interest has not yet been recorded. 7. Dn Dotober 1, 2022, Stafford purchased office equipment for $8,500. The equipment was expected to have useful life of 5 years and a salvage value of $1,000. Depreciation is calculated on a straight-line basis. 8. Dn August 1, 2022, Stafford rented out a vacant space of its building to another company. Stafford received $6,000 for one year's rent in advance and charged this amount to Unearned Rent. 9. Interest amounting to $960 had acorued on the Notes Receivable at December 31 but had not been received. 10. Df the total $50,000 Acoounts Receivable, 5% is considered doubtful for collection. ADJUSTING ENTRIES A. For each of the following situations, give the journal entry necessary to adjust the books annually on December 31, 2022, the fiscal year-end. a. The building was purchased on January 1, 2012, at a cost of $210,000. At the time of purchase it was estimated to have a life of 20 years and no salvage value. Since the building was purchased depreciation has been calculated on a straight-line basis. b. The balance of the prepaid advertising account was $720. Df this amount $350 has been used up. c. Salaries owed to employees but not yet recorded amount to $10,000. d. The balance of Unearned Service Revenue account is $2,750. The amount of service revenue still unearned on December 31 , is $1,350. e. The cost of supplies is recorded in the Supplies account when purchases are made. The balance of this account on December 31 , is $4,300. There is only $1,050 worth of supplies on hand. f. An insurance policy covering a one-year period was purchased on April 1, 2022 for $24,000. When the purchase was made. Prepaid lnsurance was debited. g. Machinery purchased on February 1, 2019, at a cost of $125,000 was estimated at that time to have useful life of 10 years and a salvage value of $5,000. h. On Qotober 1, 2022, rent of equipment was prepaid in the amount of $18,000 for 12 months. The Prepaid Rent account had been debited for the entire amount. i. Interest earned but not yet received amounted to $1,650. k. Commissions of $1,150 that were recorded in the Unearned Commission Revenue account had been earned