The Accounting Records of Mason Service Company Include the Following

question 198

Essay

The accounting records of Mason Service Company include the following selected,unadjusted balances at June 30: Accounts Receivable,$2,700;Office Supplies,$1,800;Prepaid Rent,$3,600;Equipment,$15,000;Accumulated Depreciation - Equipment,$1,800;Salaries Payable,$0;Unearned Revenue,$2,400;Office Supplies Expense,$2,800;Rent Expense,$0;Salaries Expense,$15,000;Service Revenue,$40,500.
The following data developed for adjusting entries are as follows:
a.Service revenue accrued,$1,400
b.Unearned Revenue that has been earned,$800
c.Office Supplies on hand,$700
d.Salaries owed to employees,$1,800
e.One month of prepaid rent has expired,$1,200
f.Depreciation on equipment,$1,500
Journalize the adjusting entries.Omit explanations.

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Definitions:

Defense Mechanisms

Devices the ego uses to keep threatening material out of awareness and thereby reduce or avoid anxiety.

Neurotic Anxiety

A form of anxiety resulting from an unconscious fear that the ego's control over unacceptable impulses of the id will fail, leading to punishment for inappropriate thoughts or behaviors.

Unconscious

In Freud’s topographic model, the part of personality that contains material that cannot easily be brought into awareness.

Implicit Punishments

Penalties for undesirable behavior that are not directly expressed or are implied, affecting behavior modification subtly.