Wages of $12,000 are earned by workers but not paid as of December 31, 2017.

1.

1. Wages of $12,000 are earned by workers but not paid as of December 31, 2017.
2. Depreciation on the company's equipment for 2017 is $11,680.
3. The Office Supplies account had a $350 debit balance on December 31, 2016. During 2017, $4,676 of office supplies are purchased. A physical count of supplies at December 31, 2017, shows $518 of supplies available.
4. The Prepaid Insurance account had a $5,000 balance on December 31, 2016. An analysis of insurance policies shows that $2,200 of unexpired insurance benefits remain at December 31, 2017.
5. The company has earned (but not recorded) $850 of interest from investments in CDs for the year ended December 31, 2017. The interest revenue will be received on January 10, 2018.
6. The company has a bank loan and has incurred (but not recorded) interest expense of $4,500 for the year ended December 31, 2017. The company must pay the interest on January 2, 2018.

For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2017. 

No	Transaction	General Journal	Debit	Credit
1	a.	Wages expenseselected answer correct	12,000selected answer correct	not attempted
		Wages payableselected answer correct	not attempted	12,000selected answer correct
2	b.	Depreciation expense—Equipmentselected answer correct	11,680selected answer correct	not attempted
		Accumulated depreciation—Equipmentselected answer correct	not attempted	11,680selected answer correct
3	c.	Supplies expenseselected answer correct	4,508selected answer correct	not attempted
		Suppliesselected answer correct	not attempted	4,508selected answer correct
4	d.	Insurance expenseselected answer correct	2,800selected answer correct	not attempted
		Prepaid insuranceselected answer correct	not attempted	2,800selected answer correct
5	e.	Interest receivableselected answer correct	850selected answer correct	not attempted
		Interest revenueselected answer correct	not attempted	850selected answer correct
6	f.	Interest expenseselected answer correct	4,500selected answer correct	not attempted
		Interest payableselected answer correct	not attempted	4,500selected answer correct

c=350+4676-518
d=5000-2200