Read the Description of Following Adjustments That Are Required at the End

question 34

Essay

Read the description of following adjustments that are required at the end of the accounting period for Paulo Consulting Services. Record the necessary adjusting entries required at the end of January on page 2 of a general journal. Omit the descriptions.
A. Equipment was purchased on January 1, 2019, for $60,000 and has an estimated useful life of 7 years with a salvage value of $3,720. Depreciation is computed using the straight-line method.
B. Signed a 5-month contract for $4,500 of prepaid advertising on January 1, 2019.
C. Prepaid rent for the year on January 1, 2019, in the amount of $22,200.
D. Purchased supplies for $3,200 on January 1, 2019. Inventory of supplies was $2,800 on January 31, 2019.

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Definitions:

Control Over Work

The extent to which individuals can influence their job tasks and work environment.

Freedom To Schedule

The autonomy granted to individuals or teams to determine their own working hours and schedules, often aimed at improving work-life balance and productivity.

Self-leadership

The process of influencing oneself to establish the self-direction and self-motivation needed to perform or achieve certain tasks.

Encouragement Conditions

The circumstances or environments that foster support and motivation among individuals or teams to achieve desired outcomes.