Question: please answer all the questions!! Exercise 3-6 (Algo) Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is






Exercise 3-6 (Algo) Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $12,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,980 of unexpired insurance coverage remains. c. The Supplies account had a $220 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $260 of supplies available. d. One-fourth of the work related to $11,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $6.000 debit balance at December 31 before adjusting for the costs of expired prepald rent. An analysis of the rental agreement showed that $4,020 of prepaid rent had expired. f. Wage expenses of $2,000 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 256 Depreciation on the company's equipment for the year is computed to be $12,000. Note: Enter debits before credits. Journal entry worksheet The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,980 of unexpired insurance coverage remains. Note: Enter debits before credits. Prepare adjusting joumal entries for the year ended December 31 for each separate situation. Journal entry worksheet The Supplies account had a $220 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $260 of supplies available. Note; Enter debits before credits. Journal entry worksheet One-fourth of the work related to $11,000 of cash received in advance was performed this period. Note: Enter debits before credits. Prepare adjusting journal entries for the year ended December 31 for each separate situation. Journal entry worksheet
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