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You can use the following chart of accounts Accounts Receivable: Supplies Prepaid Insurance, Equipment Accumulated Depreciation-Equipment: Wages Payable. Unearned Revenue Revenue; Wages Expense; Supplies Expense
You can use the following chart of accounts Accounts Receivable: Supplies Prepaid Insurance, Equipment Accumulated Depreciation-Equipment: Wages Payable. Unearned Revenue Revenue; Wages Expense; Supplies Expense Insurance Expense; Depreciation Expense-Equipment. a company purchased equipment in January 2020. It is depreciated for $9,000 every year, 3 mk The Prepaid Insurance account had a $4,000 debit balance in the start of the year. An analysis of the company's insurance policies showed that $3,200 insurance expired. 3 mk The Office Supplies account had a 54,500 debit balance on December 31, 2016. The December 31, 2017, physical count showed 5700 of supplies is available in hand. 3 mk 1. An advance of $18,000 cash was received for service to be performed. At the end of the year, 57,800 worth service was performed. 3 mk . Wages expenses of $20,000 have been incurred but are not paid as of December 31, 2017.3 mk Please copy and paste the template below into the answer area: Date Description Debit Credit
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