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Required: (a) For each of the numbered paragraphs (1 to 7), prepare the necessary adjusting entries as of December 31, 2021. (Explanation of Journal Entry is not required) (21 marks) (b) Determine the amounts and their normal balances (either Dr or Cr) to be reported in Samson Studio's year-end adjusted trial balance dated December 31, 2021 for each of the following accounts. Show workings. (12 marks) (1) Accounts receivable Studio supplies Studio revenue earned (iii) (c) By how much did Samson Studio's retained earnings increase or decrease as a result of the adjusting entries performed in part a? Show workings. (5 marks) (d) The company purchased all of its recording equipment when it first began business, for how many months has the equipment been in business as of December 31, 2021. Explain your answer and show workings. (5 marks) -End of Section - Required: (a) For each of the numbered paragraphs (1 to 7), prepare the necessary adjusting entries as of December 31, 2021. (Explanation of Journal Entry is not required) (21 marks) (b) Determine the amounts and their normal balances (either Dr or Cr) to be reported in Samson Studio's year-end adjusted trial balance dated December 31, 2021 for each of the following accounts. Show workings. (12 marks) (1) Accounts receivable Studio supplies Studio revenue earned (iii) (c) By how much did Samson Studio's retained earnings increase or decrease as a result of the adjusting entries performed in part a? Show workings. (5 marks) (d) The company purchased all of its recording equipment when it first began business, for how many months has the equipment been in business as of December 31, 2021. Explain your answer and show workings. (5 marks) -End of

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