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israelduran2222
israelduran2222
18.06.2020 • 
Business

Wages of $13,000 are earned by workers but not paid as of December 31. Depreciation on the company’s equipment for the year is $11,680.
The Office Supplies account had a $450 debit balance at the beginning of December.
During December, $6,117 of office supplies are purchased.
A physical count of supplies at December 31 shows $662 of supplies available.
The Prepaid Insurance account had a $5,000 balance at the beginning of December.
An analysis of insurance policies shows that $1,700 of unexpired insurance benefits remain at December 31.
The company has earned (but not recorded) $800 of interest revenue for the year ended December 31.
The interest payment will be received on 10 days after the year-end January 10.
The company has a bank loan and has incurred (but not recorded) interest expense of $5,000 for the year ended December 31.
The company will pay the interest five days after the year-end on January 5.
For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2017.

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