Prepare Adjusting Entries Dated December 31,2013,based on the Following Data

question 141

Essay

Prepare adjusting entries dated December 31,2013,based on the following data.
a.A two-year insurance policy costing $6,000 was purchased on October 31,2013.
b.Salaries owed to employees on December 31,2013,amount to $4,600.
c.The balance in Supplies before adjustment is $2,800.A physical count reveals $900 of supplies on hand on December 31,2013.
d.Depreciation on office equipment for the year is $1,869.

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Definitions:

Phosphate

An inorganic chemical compound containing phosphorus and oxygen, vital for energy transfer and storage in biological systems.

DNA Helicase

An enzyme that unwinds the DNA helix, separating the two strands and allowing them to be copied during DNA replication.

Semiconservative Replication

The method by which DNA replicates, where each original strand serves as a template for a new strand, resulting in two DNA molecules, each with one old and one new strand.

Okazaki Fragments

Short fragments of DNA that are synthesized on the lagging strand during DNA replication.