Saved a. Depreciation on the company's equipment for the year is computed to be $12,000. b. The Prepaid Insurance account had a $7,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,390 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-third of the work related to $15,000 of cash received in advance was performed this period. The Prepaid Rent account had a $5,900 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $4,510 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. View transaction list Journal entry worksheet 2 3 4 5 6 Depreciation on the company's equipment for the year is computed to be $12,000. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry View general journal 1 Depreciation on the company's equipment for the year is computed to be $12,000. 's 2 The Prepaid Insurance account had a $7,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the comp insurance policies showed that $1,390 of unexpired insurance coverage remains. 3 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. 4 One-third of the work related to $15,000 of cash received in advance was norformad this narind Note: = journal entry has been entered EX be Credi View transaction list 3 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. 4 One-third of the work related to $15,000 of cash received in advance was performed this period. 5 The Prepaid Rent account had a $5,900 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $4,510 of prepaid rent had expired. 6 Wage expenses of $3,000 have been incurred but are not paid as of December 31. Note: = journal entry has been entered