Center Company Is Completing the Accounting Cycle at the End

question 55

Essay

Center Company is completing the accounting cycle at the end of the annual accounting period, December 31, 2014. 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 easy reference.
Required:
Indicate the appropriate account code and amount for each of the required adjusting entries at December 31, 2014.

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Definitions:

Psychodynamic Perspective

An approach in psychology that emphasizes unconscious psychological processes and contends that childhood experiences are crucial in shaping adult personality.

Evolutionary Perspective

A theoretical approach in psychology that seeks to explain certain mental and psychological traits—such as memory, perception, or language—as adaptations, i.e., as the functional products of natural selection.

Neuroscience Perspective

An approach to understanding human behavior and mental processes through the study of the brain and nervous system.

Mental Life

The internal workings of the mind, including thoughts, feelings, memories, and perceptions that constitute an individual's conscious and unconscious experience.