Deana DiAngelo Opened a Business Called Deana's Decorators on January

question 110

Essay

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.

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Definitions:

Metamemory

The ability to think about one’s memory processes.

Memory Organization

The way in which memories are stored and connected in the brain, allowing for efficient recall and use of information.

Elaboration

A memory strategy that involves making connections between two or more things to be remembered.

Metamemory

An individual’s knowledge about their own memory abilities and strategies to aid memory, including the understanding of how memory works.