I understand that I must follow the following instructions:…

I understand that I must follow the following instructions: (1) You may not use any electronic device besides your computer to take the exam. Attempting to use other devices during the exam will result in an Honor Code violation.(2) Any attempt to access other webpages, communication tools, resources, or software other than Codio or Canvas will result in an Honor Code violation.(3) For all questions, you are responsible for making sure your code passes the test cases. Your overall score for the exam is the score that is achieved by the autograder. (4) You must click “Check It!” at least once for each question, in order to attempt to receive credit for a particular question. (5) If your HonorLock is not active during any portion of your exam, your exam will be invalid. This means that your grade will be 0. (6) You must submit your Canvas quiz after, and only after, you have finished the Codio exam and marked it as complete. You can access the exam through the link HERE below; which will direct you to the Exam. If it does not, click on the CANVAS link below, and from there go to Modules > Week 5: Exam I > Exam I (Do Not Access without HonorLock) (7) Please click “I accept these terms” to indicate that you have accepted and will adhere to the terms. This constitutes your signature.

(2 points each) For each of the following events, write the…

(2 points each) For each of the following events, write the adjusting journal entry (if any) associated with the event from the point of view of the corporation Syzygy at year end (December 31). Write whether the adjusting entry is a “deferred expense”, “deferred revenue”, “accrued expense”, or “accrued revenue” adjusting entry.  If no journal entry is necessary, write, “No Journal Entry”. Show your work for any calculations. At year end (December 31), the corporation estimated depreciation for its equipment during the year to be $10,000. A customer paid the corporation $12,000 on July 1st to provide storage until July 1st of the following calendar year. The corporation credited the amount to Unearned Revenue on July 1st. At the beginning of the current year, the corporation had supplies of $10,000. During the year it purchased $20,000 additional supplies. The end of year supplies count was $15,000. On November 1st, The corporation borrowed $100,000 in cash from a creditor at a 12% annual interest rate. The loan requires the corporation to repay the interest and the principal after 3 years. On December 1st, the corporation purchased an insurance policy for $2,400 that provides one year of coverage starting on that date.