Depreciation on the companys wind turbine equipment for the year is $$6,400.$

The Prepaid Insurance account for the solar panels had a $$3,400$ debit balance at December $31$ before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $$1,300$ of unexpired insurance coverage remains at year$-$end.

The company received $$7,200$ cash in advance for sustainability consulting work. As of December $31,$ one$-$third of the sustainability consulting work had been performed.

As of December $31,$ $$2,600$ in wages expense for the organic produce workers has been incurred but not yet paid.

As of December $31,$ the company has earned, but not yet recorded, $$540$ of interest revenue from investments in socially responsible bonds. The interest revenue is expected to be received on January $12.$

For each of the above separate cases, determine the financial statement impact of each required year$-$end adjusting entry. Fill in the table below by indicating the amount and direction $((+)$ increase or $()$ decrease$)$ of the effect.

Answer rating: 100% (QA)

Heres the breakdown of the financial statement impact for each required yearend adjusting entry 1 De... View the full answer