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Check my workCheck My Work button is now enabled Item9 Item 9 1 points ...

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Accounting

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Item9

Item 9 1 points

  1. Depreciation on the company's equipment for the year is computed to be $12,000.
  2. The Prepaid Insurance account had a $8,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the companys insurance policies showed that $1,100 of unexpired insurance coverage remains.
  3. The Office Supplies account had a $600 debit balance at the beginning of December; and $2,680 of office supplies were purchased in December. The December 31 physical count showed $708 of supplies available.
  4. One-fifth of the work related to $10,000 of cash received in advance was performed this period.
  5. The Prepaid Rent account had a $5,400 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of rental policies showed that $4,300 of rental coverage had expired.
  6. Wage expenses of $5,000 have been incurred but are not paid as of December 31.

Prepare adjusting journal entries for the year ended (date of) December 31 for each of these separate situations.

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