Here are the responses to the accounting homework questions:
1. Prepare the adjusting entry for depreciation of equipment for the year.
Debit Depreciation Expense $12,000
Credit Accumulated Depreciation - Equipment $12,000
2. Prepare the adjusting entry for unearned revenue from gift certificates sold.
Debit Cash $4,000
Credit Unearned Revenue $4,000
3. Prepare the adjusting entry to record prepaid rent for the upcoming year.
Debit Prepaid Rent $6,000
Credit Cash $6,000
4. Prepare the adjusting entry to record accrued utilities.
Debit Utilities Expense $1,500