Center Company Is Completing the Accounting Cycle at the End

question 102

Essay

Center Company is completing the accounting cycle at the end of the annual accounting period,December 31,2019.Adjusting entries have not been made during the year so three adjusting entries must be made at this date to update the accounts.The following accounts,selected from Center Company's chart of accounts,are to be used for this purpose.They are coded to the left of each title for convenient reference.
Indicate the appropriate account code and amount for each of the required adjusting entries at December 31,2019.

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Definitions:

Osteoblasts

Osteoblasts are specialized cells involved in the synthesis and mineralization of bone during both initial bone formation and later bone remodeling processes.

Basic Multicellular Unit

A functional unit of bone, responsible for bone remodeling, consisting of osteoclasts that resorb bone and osteoblasts that form new bone.

Ethmoid

A spongy bone located between the eyes that forms part of the nasal cavity and the orbits of the eyes, contributing to the structure of the face and the sense of smell.

Sphenoid

A complex bone at the base of the skull, involved in the formation of the cranial floor and containing the sphenoid sinus.