In the Journal Provided,prepare Year-End Adjustments for the Following Situations

question 140

Essay

In the journal provided,prepare year-end adjustments for the following situations.Omit explanations.
a. Accrued interest on notes receivable is $105.
b. Of the $12,000 received in advance of earning a service, one-third was still unearned by year end.
c. Three years' rent, totaling $36,000, was paid in advance at the beginning of the year.
d. Services totaling $5,300 had been performed, but not yet billed.
e. Depreciation on trucks totaled $3,400 for the year.
f. Supplies available for use totaled $690. However, by year end, only $100 in supplies remained.
g. Payroll for the five-day work week, to be paid on Friday, is $30,000. Year end falls on a Monday.
h. Estimated federal income taxes were $4,160.

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Definitions:

Standard Errors

Measures of the statistical accuracy of an estimate, reflecting how much an estimated parameter varies under repeated sampling.

Process Distribution

The pattern of variation that a process exhibits, often characterized by a probability distribution that describes how process measurements are dispersed or spread.

S Chart

A type of control chart used for monitoring the variability of a process as measured by the sample standard deviation.

Standard Deviation

A measure assessing the fluctuation of data from the mean, indicating the degree to which data points are distributed.