At the End of a Month,a Sole Proprietorship Has the Following

question 64

Essay

At the end of a month,a sole proprietorship has the following ending balances in its accounts in the ledger.
$$\begin{array} { | l | r | } \hline \text { Cash } & \$ 5,000 \\\hline \text { Accounts Receivable } & 1,200 \\\hline \text { Office Supplies } & 200 \\\hline \text { Land } & 20,000 \\\hline \text { Accounts Payable } & 1,300 \\\hline \text { Larsen, Capital } & 1,000 \\\hline \text { Service Revenue } & 35,500 \\\hline \text { Rent Expense } & 4,500 \\\hline \text { Salaries Expense } & 6,000 \\\hline \text { Utilities Expense } & 900 \\\hline\end{array}$$ Use this data to prepare a trial balance.

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Definitions:

Projecting

The psychological defense mechanism of attributing one's own attitudes, feelings, or desires to someone or something else.

Preexisting Expectations

Anticipations or beliefs about something that exist before any new information or experiences.

ABC's of Behavior

An analysis framework for understanding behavior, consisting of antecedents, behaviors, and consequences.

Vicarious Learning

The process of learning by observing the actions and outcomes of others' behaviors, rather than through direct experience.