Using the Following Accounting Equation Elements and Their Balances, Prepare

question 160

Essay

Using the following accounting equation elements and their balances, prepare, in good format a balance sheet in report form for Bright Futures Company for the month ended August 31. $$\begin{array} { l r } \text { Telephone expense } & \$ 1,150 \\\text { Cash } & 3,000 \\\text { Accounts payable } & 1,540 \\\text { Jason Bright, drawing } & 800 \\\text { Fees earned } & 15,700 \\\text { Rent expense } & 1,400 \\\text { Supplies } & 140 \\\text { Accounts receivable } & 1,500 \\\text { Computer equipment } & 20,000 \\\text { Jason Bright, capital (August 1) } & 14,320 \\\text { Wages expense } & 4,800 \\\text { Utilities expense } & 750 \\\text { Notes payable } & 2,400 \\\text { Office expense } & 420\end{array}$$

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Definitions:

Ethological Theory

A perspective in psychology that emphasizes the genetic and biological bases of behavior, as observed in the natural environment.

Behaviors

The actions or reactions of an organism, often in response to external stimuli, which can be observed and measured externally.

Appetitive Action Patterns

Sequences of behavior that occur in response to signals indicating the availability of a desired goal or reward.

Innate Releasing Mechanisms

Neurological structures that are triggered by specific stimuli, leading to an instinctive behavior in animals.