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 $18,000. Note: Enter debits before credits. Journal entry worksheet One-fifth of the work related to $10,000 of cash received in advance was performed this period. Note: Enter debits before credits. Exercise 3-6 (Algo) Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $18,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,810 of unexpired insurance coverage remains. c. The Supplies account had a $400 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $472 of supplies available. d. One-fifth of the work related to $10,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $5,800 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,990 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 Depreciation on the company's equipment for the year is computed to be $18,000. Note: Enter debits before credits. Journal entry worksheet The Prepaid Rent account had a $5,800 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,990 of prepaid rent had expired. Note: Enter debits before credits. 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 The Supplies account had a $400 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $472 of supplies available. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 Wage expenses of $3,000 have been incurred but are not paid as of December 31. Note: Enter debits before credits. Journal entry worksheet 6 The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,810 of unexpired insurance coverage remains. Note: Enter debits before credits
