Journal entry worksheett Note: Enter debits before credits. 1. Depreciation on...
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Accounting
Journal entry worksheett
Note: Enter debits before credits.
1. Depreciation on the companys equipment for 2017 is computed to be $14,000.
2. The prepaid insurance account had a $6,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the companys insurance policies showed that $780 of unexpired insurance coverage remains.
3.The Office Supplies account had a $380 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017, physical count showed $448 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 insurance account had a $5,100 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of insurance policies showed that $4,320 of coverage had expired.
6. Wage expenses of $2,000 have been incurred but are not paid as of December 31, 2017.
Transaction
General Journal
Debit
Credit
a.
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