terbish company started operations on january 1 2014 it is now december 31 2014 the 4374786

Terbish Company started operations on January 1, 2014. It is now December 31, 2014, the end of the fiscal year. The part- time bookkeeper needs your help to analyze the following three transactions: a. During 2014, the company purchased office supplies that cost $ 1,600. At the end of 2014, office supplies of $ 400 remained on hand. b. On January 1, 2014, the company purchased a special machine for cash at a cost of $ 12,000. The machine’s cost is estimated to depreciate at $ 1,200 per year. c. On July 1, 2014, the company paid cash of $ 600 for a one- year premium on an insurance policy on the machine; coverage begins on July 1, 2014. Required: Complete the following schedule of the amounts that should be reported for 2014:
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Terbish Company started operations on January 1 2014 It is

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