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From the following data, make the following adjustments, and complete the worksheet for the month.
(a) Depreciation Expense is $250.
(b) Supplies available $250, supplies on hand $75.
(c) Prepaid Insurance balance $400, $100 has expired.
(d) Wages for the 5-day work-week are $500, the month ended on a Wednesday.
| DR | CR | DR | CR | DR | CR | DR | CR | DR | CR | |
| Cash | 750 | |||||||||
| Accts. Receivable | 400 | |||||||||
| Supplies | 250 | |||||||||
| Prepaid Ins. | 400 | |||||||||
| Equipment | 7,000 | |||||||||
| Accts. Payable | 900 | |||||||||
| Capital | 7,100 | |||||||||
| Capital | 900 | |||||||||
| Wages Expense | 100 | |||||||||
| Totals | 8,900 | 8,900 |
Deferred Annuity
An insurance product that provides future payments to the holder, typically starting at retirement, after an initial investment period.
Ordinary Annuity
A succession of equivalent remittances occurring at regular intervals for a certain stretch of time.
Deferred Annuity
An insurance product that provides future payments to the holder, usually after retirement, where payments are delayed for a certain period.
Ordinary Annuity
A financial product resulting in a stream of payments to the holder at regular intervals over a specified period of time, typically at the end of each period.
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