Based on the Unadjusted Trial Balance for Highlight Styling and the Adjusting

question 240

Essay

Based on the unadjusted trial balance for Highlight Styling and the adjusting information given below,prepare the adjusting journal entries for Highlight Styling.
Highlight Stylings' $\bold{\text{unadjusted trial balance}}$ for the current year follows:
Additional information:
a.An insurance policy examination showed $1,040 of expired insurance.
b.An inventory count showed $210 of unused shop supplies still available.
c.Depreciation expense on shop equipment,$350.
d.Depreciation expense on the building,$2,020.
e.A beautician is behind on space rental payments,and this $200 of accrued revenues was unrecorded at the time the trial balance was prepared.
f.$800 of the Unearned Rent account balance was still unearned by year-end.
g.The one employee,a receptionist,works a five-day workweek at $50 per day.The employee was paid last week but has worked four days this week for which she has not been paid.
h.Three months' property taxes,totaling $450,have accrued.This additional amount of property taxes expense has not been recorded.
i.One month's interest on the note payable,$600,has accrued but is unrecorded.

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Definitions:

Ethnocentric

The belief in the superiority of one's own ethnic group or culture, often at the expense of understanding or respecting other cultures.

Isocentric

Referring to something having a central focus or point that is equal in all directions; often used in geometric contexts.

Regional

Refers to activities, strategies, or influences focused on specific geographic areas or regions, often taking into account local customs, needs, or resources.

Cross-Border Merger

A transaction where companies from different countries merge to create a new entity or one absorbs the other, expanding their global footprint and operational reach.