2 Exercise 3-6 Preparing adjusting entries LO P1 a. Depreclation on the company's equipment for 2017 is computed to be $16,000 b. The Prepaid Insurance account had a $5,000 debit balance at December 31, 2017, before adusting for the costs of any expired 12 points coverage. An analysis of the company's Insurance policies showed that $1,610 of unexpired Insurance coverage remains. C. The Office Supplies account had a $470 debit balance on December 31, 2016, and $2,680 of office supplies were purchased during the year. The December 31, 2017, physical count showed $555 of supplies avallable d. Two-thirds of the work related to $12,000 of cash received In advance was performed this period e. The Prepaid Insurance account had a $5,800 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of insurance policies showed that $4,190 of coverage had expired. f. Wage expenses of $1,000 have been Incurred but are not paid as of December 31, 2017 Hint Prepare adjusting journal entries for the year ended (date of) December 31, 2017, for each of these separate situations. Print View transaction list View journal entry worksheet Reference Credit No Transaction General Journal Debit Depreciation expense- Equipment 16,000 a. 16,000 Accumulated depreciation-Equipment Insurance expense 3,390 Prepaid insurance 3,390 Supplies expense Supplies C