For each of the following separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2013. (Assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance of work are initially recorded as liabilities.)

a. One-third of the work related to $15,000 cash received in advance is performed this period.

b. Wages of $8,000 are earned by workers but not paid as of December 31, 2013.

c. Depreciation on the company’s equipment for 2013 is $18,531.

d. The Office Supplies account had a $240 debit balance on December 31, 2012. During 2013, $5,239 of office supplies are purchased. A physical count of supplies at December 31, 2013, shows $487 of supplies available.

e. The Prepaid Insurance account had a $4,000 balance on December 31, 2012. An analysis of insurance policies shows that $1,200 of unexpired insurance benefits remain at December 31, 2013.

f. The company has earned (but not recorded) $1,050 of interest from investments in CDs for the year ended December 31, 2013. The interest revenue will be received on January 10, 2014.

g. The company has a bank loan and has incurred (but not recorded) interest expense of $2,500 for the year ended December 31, 2013. The company must pay the interest on January 2, 2014.