Able Industries Has the Following Information Is Related to Its $\bullet$

question 129

Essay

Able Industries has the following information is related to its adjusting entries at the end of December.
$\bullet$ On December 31, 2010, the insurance expired amounted to $100.
$\bullet$ Of the unearned revenue, $335 of services had been performed.
What is the net effect that the necessary adjusting entries for this information have on net income for Able?
a. $435 increase.
b. $435 decrease.
c. $235 increase.
d. $235 decrease.

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Definitions:

Final Stage

Often refers to the last phase of a process or condition, such as the terminal stage of an illness or the resolution phase of a psychological model.

New Identities

The process of developing or adopting new aspects of oneself, often in response to changes in life circumstances or personal growth.

Health Care Proxy

A legal document that allows an individual to appoint someone else to make medical decisions on their behalf if they become unable to do so.

Sui Generis

A Latin term meaning "of its own kind" or "unique", often used to describe an entity that is in a class by itself.