Exorciso 3.3 Prepare adjusting joumal entrics for the year ended (date 00) December 31, 2011, for ench of these separate. Proparing adfusting entries - siunations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees colP1 a. Depreciation on the company's equipment for 2011 is computed to be $16,000. b. The Prepaid Inverance account had a 57,000 debit balance at December 31, 2011. before adjusting for the costs of any expired coverage. An analysis of the company's insurance polictes showed that $1,040 of unexpired insurance coverage remains. Check ia Or. OHice Susolts c. The Office Supplies account had a $300 debit balance on December 31. 2010: and $2,680 of office supplies were purchased during the year. The December 31, 2011, physical count showed $354 of sup. Exidite. 59.690 plies available. d. Onehalf of the work related to $10,000 of cach received in advance was performed this period. e. The Prepaid Insurance account had a $5,600 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An analysis of insurance policics showed that 54.600 of coverage had expired. 1. Wage expenses of $4,000 have been incurred but are not paid as of December 31,2011