a. A two-year insurance premium of $7,300 was paid on January 1,2021, for coverage beginning...
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a A twoyear insurance premium of $ was paid on January for coverage beginning on that date. As of December the unadjusted balances were $ for Prepaid Insurance and $ for Insurance Expense. b At December you obtained the following data relating to supplies. Unadjusted balance in Supplies on December Unadjusted balance in Supplies Expense on December $ Supplies on hand, counted on December Required: Of the $ paid for insurance, what amount should be reported on the income statement as Insurance Expense? What amount should be reported on the December balance sheet as Prepaid Insurance? What amount should be reported on the income statement as Supplies Expense? What amount should be reported on the December balance sheet as Supplies? Indicate the accounting equation effects of the adjustment required for a insurance and b supplies. Complete this question by entering your answers in the tabs below. Required Required Required Indicate the accounting equation effects of the adjustment required for a insurance and b supplies. Enter any decreases to Assets, Liabilities, or Sto, sign. 
a A twoyear insurance premium of $ was paid on January for coverage beginning on that date. As of December
the unadjusted balances were $ for Prepaid Insurance and $ for Insurance Expense.
b At December you obtained the following data relating to supplies.
Unadjusted balance in Supplies on December
Unadjusted balance in Supplies Expense on December $
Supplies on hand, counted on December
Required:
Of the $ paid for insurance, what amount should be reported on the income statement as Insurance Expense? What
amount should be reported on the December balance sheet as Prepaid Insurance?
What amount should be reported on the income statement as Supplies Expense? What amount should be reported on the
December balance sheet as Supplies?
Indicate the accounting equation effects of the adjustment required for a insurance and b supplies.
Complete this question by entering your answers in the tabs below.
Required
Required
Required
Indicate the accounting equation effects of the adjustment required for a insurance and b supplies. Enter any decreases to Assets, Liabilities, or Sto,
sign.
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