Presented Below Are the Year-End Balances at December 31 of Laura's

question 74

Short Answer

Presented below are the year-end balances at December 31 of Laura's Laundry Service. (All accounts have normal balances.)
$$\begin{array} { | l | r | } \hline \text { Accounts receivable } & \$ 12,000 \\\hline \text { Accounts payable } & 25,000 \\\hline \text { Accumulated depreciation - Catering equipment } & 30,000 \\\hline \text { Advertising expense } & 4,000 \\\hline \text { Cash } & 42,000 \\\hline \text { Depreciation expense - Catering equipment } & 12,000 \\\hline \text { Insurance expense } & 3,000 \\\hline \text { Catering equipment } & 125,000 \\\hline \text { Catering service revenue } & 200,000 \\\hline \text { Notes payable } & 65,000 \\\hline \text { Common stock } & 3,000 \\\hline \text { Retained earnings } & 14,000 \\\hline \text { Dividends } & 18,000 \\\hline \text { Prepaid insurance } & 1,500 \\\hline \text { Salaries payable } & 4,000 \\\hline \text { Salary expense } & 97,000 \\\hline \text { Supplies } & 1,500 \\\hline \text { Supplies expense } & 9,000 \\\hline \text { Repair expense } & 7,000 \\\hline \text { Unearned catering service revenues } & 500 \\\hline \text { Utilities expense } & 9,500 \\\hline\end{array}$$
a. Prepare the necessary closing entries at December 31.
b. Prepare a post-closing trial balance at December 31.

Differentiate between qualitative and quantitative research methods.

Grasp the nature of inductive and deductive reasoning in the development of sociological theories and research.

Explain the various purposes behind sociological research and critically evaluate different research approaches.

Articulate the concepts of decolonization and empowerment in sociological research contexts.

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Civil Rights Act

Landmark legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin, primarily associated with the Civil Rights Act of 1964.

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Unfair or unequal treatment of people based on race or ethnicity, leading to disadvantages in employment, education, and in the legal system.

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Refers to the country where a person was born, or more broadly, the country from which an individual or their ancestors originally come.

Sexual Orientation

A person's emotional, romantic, or sexual attraction to others, often categorized as heterosexual, homosexual, bisexual, among others.