Use the Information That Follows Taken from the Unadjusted Accounting

question 127

Essay

Use the information that follows taken from the unadjusted accounting records of Sheena, Inc. for the year ending December 31, 2010 to answer problems 24 through 26.
The following information is needed for adjusting entries at the end of December.
a. On December 31, 2010, the insurance expired amounted to $80.
b. Of the unearned revenue, $250 of services had been performed.
c. Services have been performed for customers that have not yet been billed or paid totaling $180.
d. The office equipment computation for 2010 depreciation amounts to $200.
-Determine total liabilities for Sheena, Inc. for the year ending December 31, 2010.

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Definitions:

Decision Making

The process of making choices or conclusions based on available information, analysis, and preference.

Influencer

An individual who has the power to affect the purchasing decisions of others because of their authority, knowledge, position, or relationship with their audience.

Decision Maker

An individual or group responsible for making choices that will affect the outcome of a particular process or situation.

Purchaser

An individual or organization that buys goods or services for personal use or for further processing or manufacturing.