For each of the following independent situations, prepare the appropriate adjusting journal entry on the last day of the fiscal year end (FYE). Use the information provided below for each situation.
1 Note executed on July 01, 2012 and FYE is September 30. (92 days)
2 Note executed on April 01, 2012 and FYE is September 30. (6 months)
3 Note executed on October 15, 2012 and FYE is January 31. (108 days)
4 Note executed on January 01, 2012 and FYE is April 30. (4 months)
5 Note executed on September 01, 2012 and FYE is September 30. (30 days)
Definitions:
Physical Functioning
The ability to perform activities of daily living, including ambulation, feeding, dressing, and engaging in recreational activities.
Adolescent Egocentrism
A characteristic of adolescent thinking leading to an over-focus on self and a feeling of being unique and invulnerable.
Personal Fable
A belief held by adolescents that they are unique, invincible, and not subject to the same rules that govern others' behaviors and experiences.
Myth of Invincibility
A belief, especially among young people, that they are not susceptible to harm or consequences faced by others.
Q23: If the credit terms are 2/10, n/30,
Q48: The entry to record amortization:<br>A) increases total
Q59: Which of the following is NOT true
Q78: When preparing a bank reconciliation, which of
Q93: Using the aging-of-receivables method to estimate uncollectibles,
Q97: An asset that is appreciating in value
Q115: When a company sells a trading investment,
Q143: Intangibles can have finite or infinite lives.
Q185: Which account is credited in the adjusting
Q195: It is illegal to use one method