Adjusting Entries

question 76

Essay

Adjusting entries.Reed Co. wishes to enter receipts and payments in such a manner that adjustments at the end of the period will not require reversing entries at the beginning of the next period. Record the following transactions in the indicated manner and give the adjusting entry on December 31, 2014. (Two entries for each part.)1. An insurance policy for two years was acquired on April 1, 2014 for $18,000.2. Rent of $12,000 for six months for a portion of the building was received on November 1, 2014.

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Definitions:

Aggression

A range of behaviors that can be physical or verbal, intended to harm or intimidate others.

Reinforced

Strengthened or emphasized, often in the context of behavior strengthened by a consequence in psychological terms.

Classical Conditioning

An instructional process in which two stimuli are regularly paired together; the response, which is at first produced by the second stimulus, is eventually produced by the first stimulus on its own.

Rules of Sexual Behavior

The social and cultural norms governing sexual activities and relationships.