The following selected transactions took place during the current year for a company: 
(a) Prepare the journal entries for these transactions.
(b) If Retained Earnings had a $155,000 credit balance on January 1, calculate its year-end balance as of December 31.
Definitions:
Erikson
Erik H. Erikson, a developmental psychologist and psychoanalyst known for his theory on the social development of human beings and coined the phrase "identity crisis".
Sense of Competence
Describes an individual's belief in their own abilities to successfully execute tasks.
Psychosocial Development
The theory proposed by Erik Erikson that human development occurs in eight predetermined stages from infancy to adulthood, each characterized by a specific psychological struggle.
Autonomy
The right or condition of self-government, often used in the context of individuals’ ability to make their own decisions.
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