Consider the following situations for Kirkland Welding

Services a Depreciation for #355

Consider the following situations for Kirkland Welding Services:a. Depreciation for the current
year includes equipment, $2,700.b. Each Monday, Kirkland pays employees for the previous
week’s work. The amount of weekly payroll is $3,500 for a seven-day workweek (Monday to
Sunday). This year, December 31 falls on Thursday.c. The beginning balance of Office Supplies
was $2,600. During the year, Kirkland purchased office supplies for $2,500, and at December
31 the office supplies on hand totaled $1,800.d. Kirkland prepaid a two full years’ insurance on
October 1 of the current year, $6,480. Record insurance expense for the year ended December
31.e. Kirkland had earned $3,400 of unearned revenue.f. Kirkland had incurred (but not
recorded) $150 of interest expense on a note payable. The interest will not be paid until
February 28.g. Kirkland billed customers $9,000 for welding services performed.Journalize the
adjusting entry needed on December 31 for each situation. Use the letters to label the journal
entries.View Solution:
Consider the following situations for Kirkland Welding Services a Depreciation for

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