A) depreciation on the company's equipment for 2017 is computed to be $16,000.b) the prepaid insurance account had a $9,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company’s insurance policies showed that $900 of unexpired insurance coverage remains. c) the office supplies account had a $540 debit balance on december 31, 2016; and $2,680 of office supplies were purchased during the year. the december 31, 2017, physical count showed $637 of supplies available. d) one-fourth of the work related to $11,000 of cash received in advance was performed this period. e) the prepaid insurance account had a $5,100 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $4,200 of coverage had expired. f) wage expenses of $5,000 have been incurred but are not paid as of december 31, 2017.prepare adjusting journal entries for the year ended (date of) december 31, 2017, for each of these separate situations.

(A)

depreciation expense 16,000 debit

   accumulated depreciation       16,000 credit

(B)

insurance expense 8,100 debit

   prepaid insurance       8,100 credit

(C)

supplies expense 2,583 debit

           supplies                  2,583 credit

(D)

wages expense 2,750  debit

   wages payable        2,750 credit

(E)

insurance expense 4,200 debit

   prepaid insurance       4,200 credit

(F)

wages expense         5,000 debit

         wages payable                    5,000 credit

Explanation:

b) insurance:

total:        9,000

unexpired: 900

expired:  8,100 this will be the insurnace expense

c) Supplies:

beginning + purchase = ending + expense

540 + 2,680 = 637 + expense

expense= 540 + 2,680 - 637  =  2,583

d) wages accrued:

11,000 x 1/4 = 2,750

e)  insurance entry

expired 4,200 this will be the insurance expense

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

d. automatic stabilizers.

explanation: