Adjusting Entries
Selected Ledger Accounts Used by American Advertising, Inc

question 44

Essay

Adjusting entries
Selected ledger accounts used by American Advertising, Inc., are listed along with identifying numbers. Following this list of account numbers and titles is a series of transactions. For each transaction, you are to indicate the proper accounts to be debited and credited.
$$\begin{array} { | l | l | l | l | l | l | } \hline 1 & \text { Cash } & 22 & \text { Accounts Payable } & 41 & \text { Fees Earned } \\\hline 2 . & \text { Accounts Receivable } & 23 & \text { Income Taxes Payable } & 51 & \text { Salaries Expense } \\\hline 3 & \text { Office Supplies } & 24 & \text { Unearned Fees } & 52 & \text { Office Supplies Expense } \\\hline 4 & \text { Unexpired Insurance } & 25 & \text { Dividends Payable } & 53 & \text { Rent Expense } \\\hline 5 & \text { Office Equipment } & 31 & \text { Capital Stock } & 54 & \text { Insurance Expense } \\\hline 6 & \text { Accumulated Depr. } & 32 & \text { Retained Earnings } & 55 & \text { Depreciation Expense: } \\\hline & \text { Expense Office Equip } & 33 & \text { Dividends } & & \text { Office Equip. } \\\hline & & & & 56 & \text { Income Taxes Expense } \\\hline & & & & & \\\hline\end{array}$$ $$\begin{array} { | l | l | c | c | } \hline & \text { Account(s) } & \text { Accounts(s) } \\\hline & \text { Transactions } & \text { Debited } & \text { Credited } \\\hline & \begin{array} { l } \text { Example: Paid rent on the building for the current } \\\text { period. }\end{array} & 53 & 1 \\\hline \text { a) } & \begin{array} { l } \text { Received an advance payment from a client for } \\\text { services to be rendered over next six months. }\end{array} & & \\\hline \text { b) } & \text { Paid salaries of employees. } & \\\hline \text { c) } & \begin{array} { l } \text { Bought a three-year insurance policy and paid in } \\\text { full. }\end{array} & & \\\hline \text { d) } & \begin{array} { l } \text { Performed services for a client; received part of } \\\text { fee in cash remainder to be collected in 30 days. }\end{array} & & \\\hline \text { e) } & \begin{array} { l } \text { Purchased office equipment; paid [part] in cash, } \\\text { balance payable in 60 days. }\end{array} & & \\\hline \text { f) } & \begin{array} { l } \text { Purchased a large quantity of office supplies on } \\\text { credit. }\end{array} & & \\\hline \text { g) } & \text { Declared a dividend to be paid in 45 days. } & & \\\hline \text { h) } & \begin{array} { l } \text { Made an adjusting entry for the portion of the } \\\text { insurance premium which had expired. }\end{array} & & \\\hline \text { i) } & \begin{array} { l } \text { Made an adjusting entry to record depreciation for } \\\text { the period. }\end{array} & & \\\hline \text { j) } & \begin{array} { l } \text { Made an. adjusting entry for office supplies used } \\\text { during this period. }\end{array} & & \\\hline \text { k) } & \begin{array} { l } \text { Made an adjusting entry to recognize that a } \\\text { portion of the fee received in advance (transaction } \\\text { a) had now been earned. }\end{array} & & \\\hline \text { 1) } & \text { Paid the dividend declared in transaction g. } & \\\hline\end{array}$$

Educate patients on exercises for improving urinary incontinence.

Set appropriate goals for patients with urinary incontinence regarding lifestyle and dietary adjustments.

Understand the effects of diet, medication, and lifestyle choices on bowel health and function.

Identify signs, symptoms, and interventions for common bowel issues such as hemorrhoids, constipation, and infections.

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Definitions:

Dividends

Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders.

Treasury Stock

Treasury Stock refers to shares that were once part of the outstanding shares of a company but were later reacquired by the company itself.

Issued Shares

The total number of shares that have been allocated to shareholders, including both public investors and company officers.

Outstanding Shares

Refers to the total number of shares of a corporation that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.