Question

a. Depreciation on the company's wind turbine equipment for the year is $5,600, b. The Prepaid Insurance account for the solar panels had a $2,600 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $900 of unexplred Insurance coverage remains at year-end. c. The company received $4,800 cash in advance for sustainability consulting work. As of December 31, one third of the sustainability consulting work had been performed. d. As of December 31, $1,800 in wages expense for the organic produce workers has been incurred but not yet paid. e. As of December 31, the company has eamed, but not yet recorded, $460 of interest revenue from investments in socially responsible bonds. The interest revenue is expected to be received on January 12. For each of the above separate cases, prepare the required December 31 year-end adjusting entries. View transaction list Journal entry worksheet < 1 2 3 4 5 Depreciation on the company's wind turbine equipment for the year is $5,600 Note: Enter debits before credits Transaction Credit General Journal Depreciation expense---Equipment Debit 5,600 Prev 1 of 5 !!! Next >

Answer 1

Adjusting entries:

Transaction	General Journal	Debit	Credit
a.	Depreciation expense- Equipment a/c	$5600
	To Accumulated depreciation- equipment a/c		$5600
b.	Insurance expense a/c {$2600-$900}	$1700
	To Prepaid Insurance a/c		$1700
c.	Unearned revenue a/c {$4800* 1/3}	$1600
	To Consulting revenue a/c		$1600
d.	Wages expense a/c	$1800
	To wages payable a/c		$1800
e.	Interest receivable a/c	$460
	To Interest revenue a/c		$460

-----------------*-----------------

DO VOTE, ALL THE BEST

HAPPY CHEGGING