Selected Transactions of Ventura Corporation Are Presented Below:
March $\$ 9,000$

question 135

Essay

Selected transactions of Ventura Corporation are presented below:
March 1 -Received $\$ 9,000$ in payment for 6 months advance rent from Franken Company and recorded it as rent revenue. May 1 -Paid Acme Insurance $\$ 6,000$ for a 2-year liability policy and recorded it as insurance expense. Policy begins on May 1. June 1 -Received $\$ 5,400$ from Kennedy Corporation as an advance payment for a 6 -month advertising contract and recorded it as advertising revenue. Contract begins on June 1 . Required: Prepare the adjusting entries that would be required on June 30.

---

Definitions:

Personnel Policies

Guidelines and procedures related to the management of employees within an organization.

Recruiter Traits

The set of characteristics or qualities that are effective for someone who is responsible for identifying, attracting, and hiring talent for jobs.

Due-Process Policy

A policy that ensures fair treatment through a formal process for employees facing disciplinary action, ensuring that rights to a fair hearing and an explanation of the evidence are upheld.

Promote From Within

A hiring policy favoring the advancement of current employees to higher positions over bringing in external candidates.