The Accounting Records of Patricia Event Planning Service Include the Following

question 49

Multiple Choice

The accounting records of Patricia Event Planning Service include the following select unadjusted balances on December 31, 2014: Salaries Expense, $6,000; Service Revenue: $20,000; Unearned Revenue, $400; Supplies Expense, $600; Rent Expense, $300; Depreciation Expense-Equipment, $200. Later in December, she worked with a new client and provided event planning services for an upcoming event. When the event is complete in January, 2015, she will collect the full amount of $1,200 from her client. As of the end of December, 2015, she rendered one-third of the services covered by the contract. She made the accrual adjustments. The final adjusted balance of Service Revenue, as shown on the adjusted trial balance, should be a:

• A)debit balance of 21,200.
• B)credit balance of $20,000.
• C)debit balance of $1,200.
• D)credit balance of $20,400.

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Definitions:

Libido

A term used in psychoanalytic theory to denote the sexual drive or desire, often presented as an energy or force.

Psychic Energy

In psychoanalytic theory, a concept referring to the energy within the psyche that fuels human thoughts and behaviors.

Talking Cure

A method of psychotherapy that involves talking about one's feelings, thoughts, and behaviors, often associated with Freudian therapy.

Parapraxes

Also known as Freudian slips, unintentional actions or spoken errors believed to reveal subconscious thoughts or feelings.