View History Bookmarks Window Help Help t Weoges oat sarc ca

View History Bookmarks Window Help Help t. Weoges oat sarc carmed by workers but not puid as o cember 31 2017 b. Depreciation on the company\'s equipment for 2017 is $12.040. c. The Office Supplies account had a $380 debit balance on December 31, 2016. During 2017, $4.811 of office supplies are purchased. A physical count of supplies at December 31, 2017, shows $531 of supplies available d. The Prepaid Insurance account had a $5.000 balance on December 31, 2016. An analysis of insurance policies shows that $3,000 of unexpired insurance benefits remain at December 31, 2017 e. The company has earned (but not recorded) $650 of interest from investments in CDs for the year ended December 31., 207. The interest revenue will be received on January 10. 2018. t. The company has a bank loan and has incurred (but not recorded) interest expense of $4,500 for the year ended December 31, 2017. The company must pay the interest on January 2. 2018. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2017 Journal entry worksheet Wages of $6,000 are earned by workers but not paid as of December 31 Note: Enter debits before credts Prev1ofE Next 2 3 5 6 8 9

Solution

General Journal Sl.No. Date Accounts Titles Debit Credit a December 31, 2017 Wages Expenses $6,000 Wages Payable $6,000 b December 31, 2017 Depreciation-office equipment $12,040 Accumulated depreciation-office equipment $12,040 c December 31, 2017 Supplies Expense $4,660 Office Supplies $4,660 d December 31, 2017 Insurance Expense $2,000 Prepaid Insurance $2,000 e December 31, 2017 Interest Receivable $650 Interest Revenue $650 f December 31, 2017 Interest expense $4500 Interest payable $4500