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

question 35

Essay

Read the description of following adjustments that are required at the end of the accounting period for Anise's 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, $1,600.
B. Purchased supplies for $4,000 on January 1, 2013. Inventory of supplies was $1,200 on January 30, 2013.
C. Depreciation is computed using the straight-line method. Equipment purchased on January 1, 2013, for $3,000 has an estimated useful life of 5 years with no salvage value.
D. Signed a 3-month contract for $450 of prepaid advertising on January 1, 2013.

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Definitions:

Excuse Game

A behavioral pattern where individuals routinely justify their actions or decisions with excuses, often to avoid responsibility.

Making Excuses

The act of creating reasons or explanations to justify behavior, often to deflect blame or avoid taking responsibility.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions, as well as the emotions of others.

Predictor

A variable or factor that can be used to forecast or estimate future behavior, outcomes, or trends based on current or past data.