On December 31, 2014 Selected Accounts of the Brolin Personnel

question 134

Essay

On December 31, 2014 selected accounts of the Brolin Personnel Agency, after all year end adjusting entries, show the following data: Analysis indicates that adjusting entries were made for
1. $8,000 of commission revenue earned but not billed,
2. $2,500 of accrued but unpaid interest, and
3. $2,400 of utilities expense accrued but not paid.
Instructions
a. Prepare the closing entries at December 31, 2014.
b. Prepare the reversing entries on January 1, 2015.
c. Prepare the entries to record (1) the collection of the accrued commission on January 8, (2) payment of the utility bill on January 10, and (3) payment of all the interest due ($3,100) on January 15.
d. What is the interest expense for the month of January 2015?

Understand the implications and criticisms of management by objectives.

Recognize the application of motivation theories to real-world organizational issues.

Explain how motivation theories guide management practices and decision-making.

Understand the attributes and benefits of emotional intelligence in personal and professional settings.

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Definitions:

Net Neutrality

The principle that internet service providers should enable access to all content and applications regardless of the source, without favoring or blocking particular products or websites.

Broadband Service Providers

Companies that offer high-speed internet access to consumers and businesses through various technologies.

Dodd-Frank Act

A comprehensive financial reform law passed in 2010 in response to the financial crisis, aimed at reducing risks in the financial system.

TARP

Troubled Asset Relief Program, a government initiative to purchase toxic assets and equity from financial institutions to strengthen the financial sector during the 2008 financial crisis.