A Review of the Ledger of Weakly Service Co

question 20

Essay

A review of the ledger of Weakly Service Co. at December 31, 2014, produces the following data pertaining to the preparation of annual adjusting entries:
(a) Notes Payable $80,000: This is a 9-month note, dated September 1, 2014, with a 9% interest rate.
(b) Prepaid Rent $648,000. The company rents offices throughout the Midwest. During 2014 it signed 10 leases as shown below: (c) Unearned Service Revenue $171,000. During 2014 the company entered into 13 monthly service contracts with clients. The clients prepaid for the services to be provided over the contract period in an even manner. Instructions:
Prepare the adjusting entries at December 31, 2014. Show all computations.

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Definitions:

Testosterone

A steroid hormone that plays a key role in the development of male reproductive tissues and secondary sexual characteristics, though it is present in both sexes.

Aggressive Cues

Environmental or psychological triggers that can provoke aggressive responses or behaviors.

Climate

The average weather conditions of a region measured over extended periods of time, encompassing elements like temperature, humidity, and rainfall.

Crime

An illegal act punishable by a state or other authority.