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Required information The following information applies to the questions displayed below) a. Wages of $6,000 are earned by workers but not paid as of December
Required information The following information applies to the questions displayed below) a. Wages of $6,000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11.680 c. The Supplies account had a $330 debit balance at the beginning of the year. During the year, $4,881 of supplies are purchased. A physical count of supplies at December 31 shows $538 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 $2,600 of unexpired insurance benefits remain at December 31 e. The company has earned (but not recorded) $700 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10, The company has a bank loan and has incurred (but not recorded interest expense of $2,500 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, analyze each adjusting entry by showing its effects on the accounting equation--specifically identify the accounts and amounts including ) increase or (-) decrease) for each transaction or event Assets Liabetes Equity Wages payable . a Wages experte Deprecation expert Equipment Show All items - (+) increase (-) decrease
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