Prepare adjusting journal entries, as needed, for the following items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a. The Supplies account shows a balance of $600, but a count of supplies reveals only $230 on hand at year-end.
b. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year-end shows a balance of $550 in Prepaid Insurance. A review of insurance policies reveals that $130 of insurance is unexpired.
c. Employees work Monday through Friday, and salaries of $3,500 per week are paid each Friday. The company's year-end falls on Tuesday.
d. At year-end, the company received a utility bill for December's electricity usage of $250 that will be paid in early January.

(a). supply expense = for both debit and credit = $370.

(b). Insurance expense= for both debit and credit sides = $130.

(c).Salary expense and salary payable = for both debit and credit sides = $1400

(d). Electricity expense =$ 250.

Explanation:

NOTE: Please check the attachment for the proper drafting of the adjusting journal entry.

The term "adjusting journal entry" is used in accounting to determine the the expenses for a particular period of time. The  "adjusting journal entry" is needed for efficient and effective accounting record because it can also be used in the correction of an accounting record that had been recorded before that particular period of time.

Here in the  "adjusting journal entry"  there is going to be the debit side and the credit side for each accounts.

(a). The supply expense and the supplies = 600 - 230 = 370 for the credit and the debit sides.

(b). Insurance expense = $130.

(c). Salary expense and salary payable = 3500 × 2 / 5 = $1400.

(d). Electricity expense and expense payable = $250

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