Prepare adjusting journal entries for the year ended December 31 for each separate situation. a. Depreciation...

Transcribed Image Text:

Prepare adjusting journal entries for the year ended December 31 for each separate situation. a. Depreciation on the company's equipment for the year is $5,900. b. The Prepaid Insurance account had a $4,500 debit balance before adjustment. An examination of Insurance policies shows $2.400 of unexpired insurance remains. c. Salaries expenses of $2,300 have been incurred but are not paid as of December 31. d. On November 1, the company received $8,400 cash for 6 months' rent in advance from a tenant whose rent is $1.400 per month starting November 1. The $8,400 was credited to the Unearned Revenue account on November 1. No adjustments were made after November 1. View transaction list Journal entry worksheet 1 2 3 Depreciation on the company's equipment for the year is $5,900. Note: Enter debits before credits Transaction General Journal Debit Credit) Prepare adjusting journal entries for the year ended December 31 for each separate situation. a. Depreciation on the company's equipment for the year is $5,900. b. The Prepaid Insurance account had a $4,500 debit balance before adjustment. An examination of Insurance policies shows $2.400 of unexpired insurance remains. c. Salaries expenses of $2,300 have been incurred but are not paid as of December 31. d. On November 1, the company received $8,400 cash for 6 months' rent in advance from a tenant whose rent is $1.400 per month starting November 1. The $8,400 was credited to the Unearned Revenue account on November 1. No adjustments were made after November 1. View transaction list Journal entry worksheet 1 2 3 Depreciation on the company's equipment for the year is $5,900. Note: Enter debits before credits Transaction General Journal Debit Credit)

Answer rating: 100% (QA)

Here are the adjusting journal entries for each situ... View the full answer