Using the Following Data, Make the Adjustments, and Complete the Worksheet

question 8

Essay

Using the following data, make the adjustments, and complete the worksheet for the month.
(a) Equipment costing $750 with a residual value of $150 has an expected life of 12 months.
(b) Accrued salaries of $100.
(c) Supplies ledger balance $900, supplies used $400.
Account Trial Balance Adjustments Adj. Trial Bal Inc. St'ment Balance Sheet

	DR	CR	DR	CR	DR	CR	DR	CR	DR	CR
cash	1,000
accts. rec.	400
supplies	900
equipment	750
Accts. payable		700
capital		1,950
withdrawals	200
fees earned		900
sal. expense	300
totals	3,550

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Definitions:

Componential Intelligence

A facet of Sternberg's Triarchic Theory of Intelligence that involves analytical problem-solving abilities, including the ability to evaluate, analyze, and compare.

Contextual Intelligence

Contextual intelligence is the ability to understand the limits of our knowledge and to adapt that knowledge to an environment different from the one in which it was developed.

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The knowledge or awareness of one’s own cognitive processes, and the ability to monitor and control those processes.

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Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience.