Answer Happy

a. Depreciation on the company's equipment for the year is computed to be $18,000. b. The Prepaid Insurance account had a $8,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,350 of unexpired insurance coverage remains. c. The Supplies account had a $270 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $319 of supplies available. d. One-third of the work related to $15,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $5,300 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,950 of prepaid rent had expired. f. Wage expenses of $6,000 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.

Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet 1 2 Transaction a. 3 Depreciation on the company's equipment for the year is computed to be $18,000. Note: Enter debits before credits. Record entry 4 5 6 General Journal Clear entry Debit Credit View general journal

Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet 1 2 Transaction b. 3 The Prepaid Insurance account had a $8,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,350 of unexpired insurance coverage remains. Note: Enter debits before credits. Record entry 4 5 6 General Journal Clear entry Debit Credit View general journal

Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet < 1 2 Transaction C. 3 Note: Enter debits before credits. Record entry 4 The Supplies account had a $270 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $319 of supplies available. 5 General Journal 6 Clear entry Debit Credit View general journal

Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet < 2 Transaction d. 3 Note: Enter debits before credits. Record entry 4 One-third of the work related to $15,000 of cash received in advance was performed this period. 5 General Journal 6 Clear entry Debit Credit View general journal

Prepare adjusting Journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet 1 2 3 Note: Enter debits before credits. Transaction e. The Prepaid Rent account had a $5,300 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $3,950 of prepaid rent had expired. 4 Record entry 5 General Journal 6 Clear entry Debit Credit View general journal

Prepare adjusting journal entries for the year ended December 31 for each separate situation. View transaction list Journal entry worksheet < 1 2 Transaction f. 3 Note: Enter debits before credits. Record entry 4 Wage expenses of $6,000 have been incurred but are not paid as of December 31. 5 General Journal 6 Clear entry Debit Credit View general journal