a. Depreciation on the company's equipment for the year is computed to be $13,000 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 $1,170 of unexpired insurance coverage remains, c. The Supplies account had a $290 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $342 of supplies available. d. One-third of the work related to $15,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $4,900 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,730 of prepaid rent had expired. f. Wage expenses of $4,000 have been incurred but are not paid as of December 31. Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet 4. 5 6 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 $1,170 of unexpired insurance coverage remains. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet The Supplies account had a $290 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $342 of supplies available. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Record entry Clear entry View general journal Prepare adjusting journal entries for the year ended December 31 for each separate situation, View transaction list Journal entry worksheet One-third of the work related to $15,000 of cash received in advance was performed this period. Note: Enter debits before credits. Transaction General Journal Debit Credit d. Record entry Clear entry View general journal Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet The Prepaid Rent account had a $4,900 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,730 of prepaid rent had expired. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet Wage expenses of $4,000 have been incurred but are not paid as of December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Record entry Clear entry View general journal
