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:
Nominal GDP
Nominal Gross Domestic Product refers to the market value of all final goods and services produced within a country in a given period, measured in current market prices.
Expansionary Monetary Policy
A monetary policy strategy used by central banks to increase the money supply to stimulate economic growth, typically by lowering interest rates.
Aggregate Expenditure
The total spending on final goods and services in an economy over a specific time period, including consumption, investment, government purchases, and net exports.
Unemployment
The condition of being jobless and actively seeking employment, often measured as a percentage of the labor force.
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