U4A2 assignment vA.xIsx - Excel Arial - 10 - A" A' BIU - - A v M49 K M N O P Q A B D E F G H 1 U4A2 Assignment Journalize the following adjustments in the journal page below. Use explanations for the transactions and leave a space between each transaction. These are eight (8) separate transactions. Do not assume that they relate to one another or are for the same company. These companies make adjustments on different dates so read carefully. 7 8 1. The supplies asset account balance December 31st was $14,000. In the supply storeroom, it was determined through a count that only $2,750 of supplies were remaining. Make the adjusting entry for December 31st to reflect this. 10 2. An insurance policy bought on August 1st, 2020 for $16,000 was to last for two (2) years. What will be the adjusting journal entry for Dec 31st, 2020? 11 12 3. Employees are paid $4,400 every two (2) weeks. Make the adjusting entry for June 30th if the last payday was June 23rd. 13 14 4. The Senior Accountant informs you that approximately 2% of all sales on account this month will likely not be collected. On May 31st sales on account amounted 15 to $29,547. 16 17 5. On December 31 there is $3400 in the Unearned Revenue account. A review of the contracts indicates that 50% of this money has now been earned. Record the 18 adjusting entry. 19 20 6. Machinery purchased January 1st, 2020 for $49,000 was expected to last for 20 years and would be worth $1,000 at that time. The company is using the straight- line method of amortization. What is the entry adjusting for December 31st? 21 22 7. Office Equipment purchased for $30,000 on May 1st, 2020 is amortized at the rate of 20% per year. What is the adjusting entry for December 31st 2020? 24 25 period ending June 30th? 8. A truck purchased for $20,000 has accumulated amortization of $6,000 on January 1st and is amortized at a rate of 10%. What's the entry for the 6 month 26 27 28