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 $11,560. the office supplies account had a $450 debit balance at the beginning of december. during december, $4,967 of office supplies are purchased. a physical count of supplies at december 31 shows $547 of supplies available. the prepaid insurance account had a $5,000 balance at the beginning of december. an analysis of insurance policies shows that $3,000 of unexpired insurance benefits remain at december 31. the company has earned (but not recorded) $900 of interest from investments in cds for the year ended december 31. the interest revenue will be received ten days after the year-end on january 10. the company has a bank loan and has incurred (but not recorded) interest expense of $3,500 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.
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Wages of $13,000 are earned by workers but not paid as of december 31. depreciation on the company’s...
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