Question
2.Depreciation on the companys equipment for the year is $10,120. 3.The Supplies account had a $410 debit balance at the beginning of the year. During
2.Depreciation on the companys equipment for the year is $10,120.
3.The Supplies account had a $410 debit balance at the beginning of the year. During the year, $5,891 of supplies are purchased. A physical count of supplies at December 31 shows $639 of supplies available.
4.The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $2,600 of unexpired insurance benefits remain at December 31.
5.The company has earned (but not recorded) $700 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10.
6.The company has a bank loan and has incurred (but not recorded) interest expense of $2,500 for the year ended December 31. The company will pay the interest five days after the year-end on January 5.
Required information [The following information applies to the questions displayed below.] a. Wages of $7,000 are earned by workers but not paid as of December 31 . b. Depreciation on the company's equipment for the year is $10,120. c. The Supplies account had a $410 debit balance at the beginning of the year. During the year, $5,891 of supplies are purchased. A physical count of supplies at December 31 shows $639 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $2,600 of unexpired insurance benefits remain at December 31 . e. The company has earned (but not recorded) $700 of interest revenue for the year ended December 31 . The interest payment will be received 10 days after the year-end on January 10. f. The company has a bank loan and has incurred (but not recorded) interest expense of $2,500 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. reach of the above separate cases, prepare adjusting entries required of financial statements for the year ended December 31. Journal entry worksheet 3446 Wages of $7,000 are earned by workers but not paid as of December 31 . Note: Enter debits before credits
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