The Adjusted Account Balances of the Wellness Center at July

question 155

Essay

The adjusted account balances of the Wellness Center at July 31 are as follows: $\begin{array}{lrlr} \underline{\text {Accounts}}&\underline{\text {Account Balances}}&\underline{\text {Accounts}}& \underline{\text {Account Balances}}\\\text { Cash } & \$ 16,000 & \text { Service Revenue } & \$ 107,000 \\\text { Accounts Receivable } & 15,000 & \text { Interest Revenue } & 8,500 \\\text { Supplies } & 4,000 & \text { Depreciation Expense } & 25,000 \\\text { Prepaid Insurance } & 8,000 & \text { Insurance Expense } & 6,000 \\\text { Buildings } & 300,000 & \text { Salaries and Wages Expense } & 40,000 \\\text { Accumulated Depreciation- } & & \text { Supplies Expense } & 8,000 \\\text { Buildings } & 120,000 & \text { Utilities Expense } & 13,000 \\\text { Accounts Payable } & 19,000 & & \\\text { Owner's Capital } & 195,000 & & \\\text { Owner's Drawings } & 11,000 & &\end{array}$
Instructions
Prepare the end of the period closing entries for the Wellness Center.

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Definitions:

Retrieve From Memory

The process of recalling or bringing into conscious thought previously stored information or experiences from one's memory.

Accessibility Of Attitudes

The ease with which an attitude can be retrieved from memory, influencing how quickly and consistently it is expressed.

Negative Perception

The interpretation of an event, individual, or information in a pessimistic or unfavorable light.

Insensitivity To Change

The failure to notice changes in one's environment or within a specific context, often because of gradual or subtle changes.