The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months:
a. The December 31 inventory count of computer supplies shows $640 still available.
b. Three months have expired since the 12-month insurance premium was paid in advance.
c. As at December 31, Lyn Addie has not been paid for four days of work at $115 per day.
d. The company's computer is expected to have a four-year life with no residual value.
e. The office equipment is expected to have a five-year life with no residual value.
f. Three of the four months' prepaid rent has expired.