Question: please make general journal with the information Exercise 3.6 (Algo) Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the
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 $16.000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $960 of unexpired insurance coverage remains. c. The Supplies account had a $200 debit balance at the beginning of the yeat, and $2.680 of supplies were purchased during the year. The December 31 physical count showed $236 of supplies avallable. d. Twothirds of the work related to $12,000 of cash recelved in advance was performed this period. e. The Prepaid Rent account had a $5,700 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $4,740 of prepaid rent had expired. f. Wage expenses of $5,000 have been incurred but are not paid as of December 31 . Prepare adjusting journal entries for the year ended December or each separate situation
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