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For each of the above cases prepare adjusting entries required of financial sttements for the year ended 31 dec 13 assume that prepaid expenses are

image text in transcribedFor each of the above cases prepare adjusting entries required of financial sttements for the year ended 31 dec 13 assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance of work are intially recorded as liabilities
value 20.00 polnts a. Two-thirds of the work related to $12,000 cash received in advance is performed this period b. Wages of $13,000 are earned by workers but not paid as of December 31, 2013 G. Depreciation on the company's equipment for 2013 is $11,320 d. The Office Supplies account had a $320 debit balance on December 31, 2012. During 2013, $5,713 of office supplies are purchased. A physical count of supplies at December 31, 2013, shows $821 of supplies avalilable policies shows that $2,800 of unexpired insurance benefits remain at December 31, 2013. The company has eamed (but not recorded) $800 of interest from investments in CDs for the year ended December 31, 2013. The interest revenue will be received on January 10, 2014 The company has a bank loan and has incurred (but not recorded) interest expense of $4,000 for the year ended December 31, 2013. The company must pay the interest on January 2, 2014. o. The Prepaid Insurance aocount had a $5,000 balance on December 31, 2012. An analysis of insurano g. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2013. (Assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance of work are initially recorded as liabilities.) view transaction ist view general journal Journal Entry Worksheet Two-thirds of the work related to $12,000 cash received in advance is performed this perioc saction General Journal Debit Credit Enter debits before credits

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