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The Data Below Concerns Adjustments to Be Made at the Tyson

question 41

Essay

The data below concerns adjustments to be made at the Tyson Company. Record the adjusting entries on page 12 of a general journal as of December 31, 2013. On the same page of the general journal, record the reversing entries as of January 1, 2014. Include descriptions.
Adjustment data:
(a) On October 1, 2013, the firm paid rent of $18,000 in advance for a 6-month period.
(b) A total of $15,000 should be recorded as depreciation of equipment for 2013.
(c) On December 31, 2013, the firm owed salaries of $12,000 that will not be paid until January 2014.
(d) On December 31, 2013, the firm owed the employer's social security (6.2%) and Medicare (1.45%) taxes on all of the accrued salaries.

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Definitions:

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A measure used in statistics that quantifies the variation or dispersion of a set of data points.

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A statistical test used to determine the effect of two nominal predictor variables on a continuous outcome, assessing interaction between the two factors.

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A statistical method used to analyze the variability among experimental conditions while controlling for variance due to specified blocking factors.

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