Problems 3-1 and 3-2 pg 139

One-third of the work related to $15000 cash received in advance is performed this period

Debit Unearned Fee Revenue Credit Fee Revenue

The office supplies account had a $700 debit balance on December 31, 2012; and 3,480 of office supplies were purchased during the year. The December 31, 2013, physical count showed $298 of supplies available

Debit office supplies expense credit office supplies

Depreciation on the company's equipment for 2013 is $185330

Debit Depreciation Expense-Equipment Credit Accumulated Depreciation-equipment

Depreciation on the company's equipment for 2013 is computed to be 18,000

Debit Depreciation Expense-equipment Credit accumulated Depreciation-Equipment

The Prepaid Insurance account had a $4000 balance on December 31, 2012. An Analysis of insurance policies shows that $1200 of unexpired insurance benefits remains at December 31, 2013

Debit Insurance Expense Credit Prepaid Insurance

The Prepaid Insurance account related to $6800 debit balance at December 31, 2013, before adjusting for the costs of any expired coverage. An analysis of insurance policies showed that $5800 of coverage had expired.

Debit Insurance expense credit prepaid insurance

The office Supplies account had $240 debit balance on December 31, 2012. During 2013, $5239 office supplies are purchased. A physical count of supplies at December 31 2013, shows at $487 of supplies available

Debit Office Suplies Expense Credit Office Supplies

Wages expenses of $3200 have been incurred but are not paid as of December 31, 2013.

Debit Wages Expense Credit Wages Payable

Wages of $8000 are earned by workers but not paid as of December 31, 2013

Debit Wages Expense Credit Wages Payable

Prepaid expense account had a $6000 debit balence at December 31 2013, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1100 of unexpired insurance coverage remains

Debit insurance expense Credit prepaid insurance

Two- thirds of the work related to $15000 of cash received in advance was performed this period.

debit unearned fee revenue credit fee revenue