Question details

Kristi Williams offers family counseling services specializing in financial and marital
$ 10.00

Kristi Williams offers family counseling services specializing in financial and marital problems. A chart of accounts and a trial balance taken on December 31, 20--, follow.

Information for year-end adjustments is as follows:

(a) Office supplies on hand at year-end amounted to $100.

(b) On January 1, 20--, Williams purchased office equipment that cost $18,000. It has an expected useful life of 10 years and no salvage value.

(c) On July 1, 20--, Williams purchased computer equipment costing $6,000. It has an expected useful life of three years and no salvage value. Assume that Williams computes depreciation to the nearest full month.

(d) On December 1, 20--, Williams paid a premium of $600 for a six-month insurance policy.

REQUIRED

1. Prepare the work sheet for the year ended December 31, 20--.

2. Prepare adjusting entries in a general journal.

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