Question: d anyone know how to put this into a chart? Exercise 3.6 (Algo) Preparing adjusting entries LO P1, P2, P3 o. Depreciation on the company's
Exercise 3.6 (Algo) Preparing adjusting entries LO P1, P2, P3 o. Depreciation on the company's equipment for the year is computed to be $17,000. b. The Prepaid insurance account had a $5,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policles showed that $1,450 of unexpired insurance coverage remains. c. The Supplies account had a $460 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $543 of supplies available. d. Three fourths of the work related to $13,000 of cash received in advance was performed this period. e. The Prepald Rent account had a $5,500 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $4,050 of prepaid rent had expired. f. Wage expenses of $4,000 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. Journal entry worksheet
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