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Read the Description of Following Adjustments That Are Required at the End

question 62

Essay

Read the description of following adjustments that are required at the end of the accounting period for Hubbard Repair Services. Determine the account and amount to be debited and the account and amount to be credited.
A. Purchased supplies for $2,000 on November 1, 2013. Inventory of supplies was $600 on November 30, 2013. Record the adjustment for the amount of the supplies that were used during the month of November 2013.
B. Signed a 4-month contract for $2,400 of prepaid advertising on November 1, 2013. Record the adjustment for the amount of the advertising contract that expired during the month of November 2013.
C. Prepaid rent for the year on November 1, 2013. Rent expired during the month of November 2013, $1,500. Record the adjustment on November 30, 2013.
D. Depreciation is computed using the straight-line method. Equipment purchased on November 1, 2013, for $6,000 has an estimated useful life of 5 years with no salvage value. Record the adjustment on November 30, 2013.

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Psychology

An examination of the human psyche and its capabilities, focusing on their impact on behavior in certain environments.

Motivation

The internal process that activates, guides, and maintains behavior towards achieving a goal.

Phenomenology

A research approach focusing on the subjective experience and interpretations of individuals.

Physiology

Physiology is the branch of biology that studies the functions and mechanisms operating within living organisms and their parts.

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