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Selected Data from Babel Co

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Selected data from Babel Co.'s accounting system are provided below.All balances are before year-end adjustments and all data relate to the year ended December 31,2011.Determine the amount that will be reported for each of the items in the table below,after the appropriate adjustments have been made using the following information:
a.The note has been unpaid all year and bears interest at 5 %.
b.The equipment,which was owned and used all year,has a 3-year estimated useful life with a $0 estimated residual value.
c.$500 of the supplies were used during the year.
d.The Prepaid insurance balance relates to a 6-month policy purchased on April 1,2011.
e.$5,000 of the unearned revenue is now earned.
f.The Salaries expense account balance does not include $25,000 of employee salaries earned but unpaid.
Selected data from Babel Co.'s accounting system are provided below.All balances are before year-end adjustments and all data relate to the year ended December 31,2011.Determine the amount that will be reported for each of the items in the table below,after the appropriate adjustments have been made using the following information: a.The note has been unpaid all year and bears interest at 5 %. b.The equipment,which was owned and used all year,has a 3-year estimated useful life with a $0 estimated residual value. c.$500 of the supplies were used during the year. d.The Prepaid insurance balance relates to a 6-month policy purchased on April 1,2011. e.$5,000 of the unearned revenue is now earned. f.The Salaries expense account balance does not include $25,000 of employee salaries earned but unpaid.

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Definitions:

Personal Goal Setting

The practice of establishing objectives for oneself to achieve personal growth, improvement, or success in various aspects of life.

Self-leadership

This concept refers to the process of influencing oneself to establish the self-direction and self-motivation needed to perform or achieve certain goals.

Experienced Meaningfulness

The feeling employees have of their work being valuable and making a significant impact, contributing to job satisfaction and performance.

Self-determination

A theory emphasizing the role of autonomy, competence, and relatedness in fostering intrinsic motivation and psychological growth.

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