Using the Column Headings Provided Below, Show the Effect, If

question 18

Essay

Using the column headings provided below, show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name, amount, and indicating whether it is an addition (+) or subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity.
(1.) During the month, the board of directors declared a cash dividend of $1,200, payable next month.
(2.) Employees were paid $1,900 in wages for their work during the first three weeks of the month.
(3.) Employee wages of $600 for the last week of the month have not been recorded.
(4.) Merchandise that cost $900 was sold for $1,350. Of this amount, $1,000 was received in cash and the balance is expected to be received within 30 days.
(5.) A contract was signed with a local radio station for a $100 advertisement; the ad was aired during this month but will not be paid for until next month.
(6.) Store equipment was purchased at a cash price of $300. The original list price of the equipment was $400, but a discount was received.
(7.) Received $180 of interest income for the current month.
(8.) Accrued $310 of interest expense at the end of the month. $$\begin{array} { | c | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Transaction/ } \\\text { Adjustment }\end{array} & \text { Assets } & & \text { Liabilities } & \begin{array} { c } \text { Stockholders' } \\\text { Equity }\end{array} & \text { Net Income } \\\hline 1 . & & & & & \\\hline 2 . & & & & & & \\\hline \text { 3. } & & & & & & \\\hline 4 . & & & & & & \\\hline \text { 5. } & & & & & & \\\hline 6 . & & & & & & \\\hline \text { 8. } & & & & & & \\\hline\end{array}$$

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Definitions:

Dialectical Behavioral Training

A cognitive-behavioral treatment developed to help people manage difficult emotions and reduce conflict in relationships, particularly used in treating borderline personality disorder.

Borderline Personality Disorder

A mental health disorder characterized by unstable moods, behavior, and relationships, often resulting from a pattern of intense emotional experiences and insecurity.

Suicidal Intent

The degree to which a person has firm plans to end their own life or the intensity of their desire to actually achieve death through suicide.

Borderline Personality Disorder

A mental disorder characterized by unstable moods, behavior, and relationships, often resulting from a pattern of varying moods, self-image, and behavior.