Directions: Journalize the adjusting entries.

Adjustment for Prepaid Insurance The Prepaid Insurance account began the year with a balance of $460. During the year, insurance in the amount of $1,040 was purchased. At the end of the year (December 31), the amount of insurance still unexpired was $700. Prepare the year-end entry in journal form to record the adjustment for insurance expense for the year.

Adjustment for Supplies The Supplies account began the year with a balance of $380. During the year, supplies in the amount of $980 were purchased. At the end of the year (December 31), the inventory of supplies on hand was $440. Prepare the year-end entry in journal form to record the adjustment for supplies expense for the year.

Adjustment for Depreciation The depreciation expense on office equipment for the month of March is $100. This is the third month that the office equipment, which cost $1,900, has been owned. Prepare the adjusting entry in journal form to record depreciation for March and show the balance sheet presentation for office equipment and related accounts after the March 31 adjustment.

Adjustment for Accrued Wages Wages are paid each Saturday for a six-day workweek. Wages are currently running $1,380- per week. Prepare the adjusting entry required on June 30, assuming July 1 falls on a Tuesday.

Adjustment for Unearned Revenue During the month of August, deposits in the amount of $1,100 were received for services to be performed. By the end of the month, services in the amount of $760 had been performed. Prepare the necessary adjustment for the Service Revenue at the end of the month.

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