Deana DiAngelo opened a business called Deana's Decorators on January 6,2014.The company's unadjusted account balances (shown in T-account form) as of December 31,2104 follows.Deana's initially records prepaid expenses and unearned revenues in balance sheet accounts.The following information was gathered in anticipation of the recording of adjusting entries as of December 31,2014:
a.Prepare the required adjusting journal entry for each situation described below as of December 31,2014.Explanations are not required.
b.Post each adjusting entry to the related T-accounts and determine the adjusted account balances for the account affected by the adjusting entries.
Definitions:
Make Today Count
A motivational phrase encouraging individuals to value and make the most of the present moment.
Computer-mediated
Communication or interaction that occurs through the use of computers and the internet, facilitating exchanges not constrained by geographical location.
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A self-help group consists of people who share the same problem or concern and who meet regularly to discuss their experiences, share support, and offer each other advice.
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The application of remedies, therapies, or interventions to cure or manage diseases, conditions, or disorders.
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