Ellis Company Accumulates the Following Adjustment Data at December 31

question 5

Essay

Ellis Company accumulates the following adjustment data at December 31.
1. Fees of $800 collected in advance have been earned.
2. Salaries of $600 are unpaid.
3. Prepaid rent totalling $450 has expired.
4. Supplies of $550 have been used.
5. Fees earned but unbilled total $750.
6. Utility expenses of $200 are unpaid.
7. Interest of $250 has accrued on a note payable.
8. Depreciation of office equipment is $300.
Instructions
a. For each of the above items indicate:
i. The type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).
ii. The account relationship (asset/liability, liability/revenue, etc.).
iii. The status of account balances before adjustment (understatement or overstatement).
iv. The accounts that will be affected.
v. The profit effect.
Prepare your answer in the tabular form presented below. The first item is shown for illustrative purposes.

Understand the basic principles and goals of different therapeutic approaches.

Differentiate between various therapeutic techniques and their underlying theories.

Recognize the role of therapist-client relationship in therapy effectiveness.

Appreciate the importance of cultural competence in therapy.

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Definitions:

Board Of Directors

A group of individuals elected to represent shareholders and oversee the management and policy decisions of an organization.

Priority Directors

Directors within a corporation or board who are given precedence for specific tasks or decision-making processes.

Government Agencies

Organizations established by a government to carry out specific government functions.

Small Businesses

Enterprises with a small number of employees and relatively low volume of sales.