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a. Depreciation on the company's equipment for the year is computed to be $17,000. b. The Prepaid Insurance account had a $7,000 debit balance

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a. Depreciation on the company's equipment for the year is computed to be $17,000. b. The Prepaid Insurance account had a $7,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,390 of unexpired insurance coverage remains. c. The Office Supplies account had a $340 debit balance at the beginning of December; and $2,680 of office supplies were purchased in December. The December 31 physical count showed $401 of supplies available. d. One-fourth of the work related to $11,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $5,300 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of rental policies showed that $3,910 of rental coverage had expired. f. Wage expenses of $7,000 have been incurred but are not paid as of December 31.

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