The Following Unadjusted Account Balance Was Taken from the Accounting

question 134

Essay

The following unadjusted account balance was taken from the accounting records at December 31, 2019:

A)Prepare any adjusting entries necessary at December 31, 2019, for each of the transactions that follow:
1.During the year, the company sold 12-month subscriptions for its flagship magazine. Half of the subscriptions began October 1, 2019, while the other half began December 1, 2019.
2.The company estimates its income taxes to be 40 percent of its estimated income of $500,000.
B)Prepare the current liabilities section of the balance sheet by listing any current liabilities and the related amounts as a result of the adjustments in Part A.

• A)Prepare any adjusting entries necessary at December 31, 2019, for each of the transactions that follow: 1.During the year, the company sold 12-month subscriptions for its flagship magazine. Half of the subscriptions began October 1, 2019, while the other half began December 1, 2019. 2.The company estimates its income taxes to be 40 percent of its estimated income of $500,000.
• B)Prepare the current liabilities section of the balance sheet by listing any current liabilities and the related amounts as a result of the adjustments in Part A.

Grasp the characteristics and implications of specific genetic disorders, such as sickle-cell anemia.

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Definitions:

FlexJobs

A job platform that specializes in offering flexible work arrangements, such as remote work, part-time positions, and freelance opportunities, to help individuals find work-life balance.

Millennials

A generational cohort following Generation X, typically regarded as being born between the early 1980s and late 1990s.

Free Agent

An independent professional who offers services to various clients or organizations without a long-term commitment to any of them.

Different Companies

Various organizations involved in commercial, industrial, or professional activities, each with distinct identities and business practices.