Journalize the Necessary Year-End Adjusting Entries Based on the Following

question 29

Essay

Journalize the necessary year-end adjusting entries based on the following account balances before adjustments.
$\begin{array}{c}\text {Trial Balance (partial)}\\\text {December 31, 20--}\\\\\begin{array}{lr}\text { Cash } & 12,340 \\\text { Supplies } & 2,100 \\\text { Prepaid Insurance } & 1,800 \\\text { Equipment } & 34,000\\\text { Accumulated Depreciation-Equipment } & & 8,000 \\\text { Accounts Payable } & & 6,430 \\\text { Wages Expense } & 17,333& \\\text { Insur ance Expense } & 3,333 &\end{array}\end{array}$

a.
The inventory of supplies on hand at December 31,20--,was $230.
b.
The 4-month insurance premium of $1,800 was purchased on December 1,20--.
c.
The $34,000 of equipment was purchased on January 1,two years ago.It has a salvage value of $2,000.Straight-line depreciation was used to compute depreciation at the end of last year.
d.
Wages accrued at December 31,20--,were $3,700.

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Definitions:

Intergroup Relations

Interactions and behaviors between members of different groups, which are influenced by social norms, stereotypes, and prejudice.

Autocratically

Pertains to a ruling or decision-making style characterized by unilateral decision-making and centralized authority, often without input or consent from others.

Rhetoric

The art of effective or persuasive speaking or writing, often utilized in argumentation or to influence the attitudes or behaviors of others.

Ingroup

A social group to which an individual identifies as being a member, often sharing a sense of solidarity and identity.