I am working on a 10 colunm end of the year worksheet and I need help with prepaid insurance and earned rental income.I can't get my adjusted trail balance to equal out. The prepaid trail balance is 8100.00.what would the adjustment be if I have a 12 month prepaid insurance that was purchase on Feb 1 of the current year.I am working on Sept. End of the year worksheet.How would I debit and credit this amount.My next problem is the earned rental income which need to have a adjustment of 5000.00. The unearned rent account has a credit amount of 15000.00.Where will I put this adjustment of 5000.00.Will I credit the unearned rent revenue and debit the rent revenue with the 5000.00.Please help.. thank you

For Prepaid Insurance you will take your amount * 8/12 for 9 months of use (Feb to Sept) out of 12 months.

So $8100 * 8/12 equals the amount of insurance used during the period.

Your entry will be:
Debit Insurance Expense for the amount calculated above
Credit Prepaid Insurance for the amount

Your entry for rental income will be:
Debit Unearned Rental Revenue for the amount given
Credit Rental Revenue for the amount