Question
Required information [The following information applies to the questions displayed below] a. Wages of $8,000 are earned by workers but not paid as of
Required information [The following information applies to the questions displayed below] a. Wages of $8,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $10,600. c. The Supplies account had a $410 debit balance at the beginning of the year. During the year, $5,966 of supplies are purchased. A physical count of supplies at December 31 shows $647 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $3,200 of unexpired insurance benefits remain at December 31. e. The company has earned (but not recorded) $550 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10. f. The company has a bank loan and has incurred (but not recorded) interest expense of $5,000 for the year ended December 31. The company will pay the interest five days after the year-end on January 5, For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended December 31. View transaction list Journal entry worksheet < 1 2 3 4 5 6 Wages of $8,000 are earned by workers but not paid as of December 31. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal >
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