Initial entry for prepayment of rent (expense method)

Debit: Rent Expense

Credit: Cash

Initial entry for prepayment of rent (asset method)

Debit: Prepaid Rent
Credit: Cash

Initial entry for prepayment of insurance (expense method)

Debit: Insurance expense
Credit: cash

Initial entry for prepayment of insurance (asset method)

Debit: Prepaid Insurance
Credit: Cash

Adjusting Entry for Office Supplies (Asset Method)

Debit: Office Supplies Expense (Unadjusted Balance - physical count/on hand)
Credit: Office Supplies

Adjusting Entry for Periodic Inventory count

(To empty beginning inventory)
Debit: Income Summary
Credit: Inventory/Beg. Inventory

(To account for on hand ending inventory)

Debit: Inventory/End. inventory
Credit: Income Summary

Adjusting Entry for unpaid salaries

Debit: Salaries Expense
Credit: Salaries Payable/Accrued Salaries Payable

Adjusting of Prepaid Insurance (Expense Method)

Debit: Prepaid Insurance
Credit: Insurance Expense

Adjusting of Prepaid Rent (Expense Method)

Debit: Prepaid Rent
Credit: Rent Expense

Adjusting of Depreciation ((Total Value of Asset - Salvage Value)/Useful life in

months)*months of adjusting depreciation
Debit: Dep Expense - Asset
Credit: Acc Dep - Asset