The prepaid insurance account had a 5000 balance on

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Reference no: EM13579156

A. Three-fourths of the work related to $13,000 cash recieved in advance is performed this period.

B. Wages of $8,000 are earned by workers but not paid as of December 31, 2013.

C. Depreciation on the company's equipment is 2013 is $10.960.

D. The office Supplies account had a $310 debit balance on December 31, 2012. During 2013, $5,160 of office supplies are purchased. A physical count of supplies at December 31. 2013, shows $566 of supplies available.

E. The Prepaid Insurance account had a $5,000 balance on December 31, 2012. An analysis of insurance policies shows that $2,700 of unexpired insurance benefits remain at December 31, 2013.

f. The company has earned (but not recorded( $850 of interest from investments in CDs for the year ended December 31, 2013. The interest revenue will be received on January 10, 2014. g. The company has a bank loan and has incurred (but not recorded) interest expense of $4,500 for the year ended December 31, 2013. The company must pay the interest on January 2, 2014.

Reference no: EM13579156

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