Question: the question Saved Help Save 3 Homework i Prepare adjusting journal entries for the year ended December 31 for each separate situation. a. Depreciation on
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Saved Help Save 3 Homework i 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 computed to be $13,000. b. The Prepaid Insurance account had a $7,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,910 of unexpired insurance coverage remains. c. The Supplies account had a $530 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $625 of supplies available. d. One-third of the work related to $15,000 of cash received in advance was performed this period. e. The Prepaid 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 $3,590 of prepaid rent had expired. . Wage expenses of $5,000 have been incurred but are not paid as of December 31. View transaction list Journal entry worksheet 2 3 5 6 Depreciation on the company's equipment for the year is computed to be $13,000. Note: Enter debits before credits. Transaction General Journal Debit Credit MacBook Pro C G Search or type URL @ $ %Step by Step Solution
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