Exercise 3.6 (Algo) Preparing adjusting entries LO P1, P2, P3 0. Depreciation on the company's equipment for the year is computed to be $15,000 b. The Prepaid lnsurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,190 of unexpired insurance coverage remains. c. The Supplies account had a $340 debit balance at the beginning of the yeat, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $401 of supplies avallable d. Two-thirds of the work related to $12,000 of cash recelved 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 $3710 of prepaid rent had expired f. Wage expenses of $3,000 have been incurted but ore not paid as of December 31 Prepare adjusting jouthal entries for the year ended December 31 for each separate situation Journal entry worksheet Depreciation on the comvpary'i eguipenent for the year is compated to be 515,000 e. The Prepaid Rent account had a $4,900 debit balance at December 31 before adjusting for the costs of expir analysis of the rental agreement showed that $3710 of prepaid rent had expired. f. Wage expenses of $3,000 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. Journal entry worksheet Depreciation on the company's equipment for the year is computed to be $15,000 Note: Enter debits before credits. e. The Prepaid Rent account had a $4,900 debit balance at December 31 before adjusting for the costs of expired prepaid re analysis of the rental agreement showed that $3.710 of prepaid rent had expired. f. Wage expenses of $3,000 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. Journal entry worksheet 56 The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,190 of unexpired insurance coverage remains. Notet Enter debits before credits. 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 $3,710 of prepaid rent had expired f. Wage expenses of $3,000 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. Journal entry worksheet Wotest Eriter debits befure credits. e. The Prepaid Rent account had a $4,900 debt balance at Decembet 31 before adjusting for the costs of expired prepaid rent An analysis of the rental agreement showed that $3710 of prepaid rent had expired 1. Wage expenses of $3,000 have been incurred but are not paid as of December 31 . Prepare adjusting joumal entries for the year ended December 31 for each separate situation. Journal entry worksheet Two-thirds of the wock retated to $12,000 ot 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 $3,710 of prepaid rent had expired f. Wage expenses of $3,000 have been incurred but are not paid as of December 31 . trepare adjusting journal entries for the year ended December 31 for each separate situation. Journal entry worksheet The Prepaid Rent account had a 54,900 debit balance at December 31 before adjusting for the costs of explred prepaid rent. An analysis of the rental agreerment whowed that $3,710 of prepaid ront had expired. Hoke i Later debits before credits 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 $3710 of prepaid rent had expired 1. Wage expenses of $3,000 have been incurred bat are not paid as or December 31 . Prepare adjusting journdl entries for the year ended December 31 for each separate situation. Journal entry worksheet
