Question d

i X Independent Cases Data Journalize the adjustina ontanooded on December 31 the company's voor and for each of the following independent cas (Click the icon Accumulated AmortizationDesign Equipment Date Accumulated AmortizationOffice Furniture Debit Credit Amortization ExpenseDesign Equipment December 31 1,400 Amortization Expense-Office Furniture 1,400 Cash Consulting Revenue Design Equipment Insurance Expense Interest Receivable d. The company is di Interest Revenue and the client paid Crafty $160,000 several months to co Prepaid Insurance 70 percent of the total fee during the Record the service re Salaries Expense Salaries Payable Supplies Date Debit Credit Supplies Expense December 31 Trucks Unearned Consulting Revenue a. The beginning balance of Supplies was $6,200. During the year, the company purchased supplies costing $8,600, and at December 31, the inventory of supplies remaining on hand is $3,200. b. Each Friday, the company pays its employees for the current week's work. The amount of the payroll is $23,000 for a five-day workweek. The current accounting period ends on Thursday. c. Crafty has received notes receivable from some clients for professional services. During the current year, Crafty has earned interest revenue of $1,400, which will be received next year. d. The company is developing a wireless communication system for a large company, and the client paid Crafty $160,000 at the start of the project. Crafty recorded this amount as Unearned Consulting Revenue. The development will take several months to complete. Crafty executives estimate that the company has earned 70 percent of the total fee during the current year. e. Amortization for the current year includes the following: Office Furniture, $9,000, and Design Equipment, $320,000. Make a compound entry. (Hint: This means to show everything in one journal entry, not two.) f. Details of Prepaid Insurance are shown in the account. Prepaid Insurance Jan. 2 Bal. 7,600 Crafty Communications prepays a full year's insurance on January 2. Record insurance expense the year ended December 31 as one annual adjustment for what was used for the year. for To accrue consulting revenue. Print Done