REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following trial balances are available. 
a) Reconstruct the adjusting entries and give a brief explanation of each.
b) What is the amount of net income?
Definitions:
Animal Spirits
A term used to describe the instinctive or emotional aspects of human behavior, often used in economic contexts to explain fluctuations in consumer confidence and decision-making.
Analytic Geometry
A branch of mathematics that uses algebraic equations to represent and solve geometric problems in a coordinate system.
"Ghost" In Machine
A metaphor denoting the consciousness or mind present within the physical body, especially in philosophical discussions about mind-body dualism.
Brain As Machine
The metaphorical concept comparing the brain's functions and processes to those of a machine, focusing on computational and mechanistic approaches to understanding cognition.
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