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

question 76

Essay

Read the description of following adjustments that are required at the end of the accounting period for AAA Appliance Repair Services. Record the necessary adjusting entries on page 2 of a general journal. Omit the descriptions.
A. Prepaid rent for the year on January 1, 2013. Rent expired during the month of January 2013, $2,000.
B. Purchased supplies for $7,600 on January 1, 2013. Inventory of supplies was $1,600 on January 30, 2013.
C. Depreciation is computed using the straight-line method. Equipment purchased on January 1, 2013, for $15,000 has an estimated useful life of 5 years with no salvage value.
D. Signed a 3-month contract for $600 of prepaid advertising on January 1, 2013.

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Definitions:

Terminal Buttons

The small knobs at the end of an axon that release chemicals called neurotransmitters into the synapse to transmit a neural message to another neuron.

Synapses

are the junctions between neurons in the brain, allowing for the transmission of electrical or chemical signals from one neuron to another.

Terminal Button

The end part of an axon that makes synaptic connections with another nerve cell or with an effector cell.

Synapse

A junction between two nerve cells, consisting of a minute gap across which impulses pass by diffusion of a neurotransmitter.