hrome File Edit View History Bookmarks Profiles Tab bjs- Google Search x QuickLaunchSSO :: Single Siç x Window Help M Question 4-Chapter 3 Home .x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... Chapter 3 Homework i Saved 10 Help Save & B 4 3.56 points eBook Hint Exercise 3-7 (Algo) Adjusting and paying accrued wages LO P3 Pablo Management has three employees, each of whom earns $135 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the three employees worked Monday, December 31, and Wednesday, Thursday, and Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4. Ask Print References Mc Graw Hill k View transaction list Journal entry worksheet 1 2 Record the December 31 year-end adjusting entry for wages expense. Note: Enter debits before credits. Date December 31 W с General Journal Debit Credit MAY 30 < Prev 4 of 10 Next > #tv G Search or type URL % 4 Aa 8 9 C 0 Che hrome File Edit View History Objs - Google Search Bookmarks Profiles Tab x QuickLaunchSSO :: Single Sic x Window Help M Question 3- Chapter 3 Home .X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... 一口 Chapter 3 Homework i 3 Saved Help Save Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Exercise 3-6 (Algo) Preparing adjusting entries LO P1, P2, P3 Return 8.54 points a. Depreciation on the company's equipment for the year is computed to be $14,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $550 of unexpired insurance coverage remains. c. The Supplies account had a $480 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $566 of supplies available. d. One-fifth of the work related to $10,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $5,600 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An analysis of the rental agreement showed that $5,050 of prepaid rent had expired. f. Wage expenses of $2,000 have been incurred but are not paid as of December 31. Prepare adjusting journal entries for the year ended December 31 for each separate situation. Mc Graw Hill k Answer is not complete. No 1 Transaction General Journal a. Depreciation expense-Equipment Accumulated depreciation-Equipment 2 b. Insurance expense Prepaid insurance 30 Debit 14,000 Credit 14,000 550 550 < Prev 3 of 10 Next > tv♫ → с G Search or type URL ☆ Aa b