Tuttle Company Shows the Following Transactions for the Accounting Period

question 96

Essay

Tuttle Company shows the following transactions for the accounting period ending December 31, 2013:
1) Sold books to customers for $34,000 on account
2) Collected $28,000 from customers
3) Issued common stock for $8,000 cash
4) Prepaid four months' rent for $4,400 on October 1, 2013
5) Purchase supplies for $10,500 cash
6) Physical count shows $3,250 of supplies left over on December 31, 2013
7) Recorded adjustment for prepaid rent used
Show how the above transactions and year end adjustments affect the financial statements on the accounting equation:

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Definitions:

Role Playing

An activity in which individuals assume roles and act out characters in a specific scenario, often used in training or therapy.

Cognitive Dissonance

A psychological phenomenon involving discomfort experienced by an individual who holds contradictory beliefs, ideas, or values at the same time.

Peripheral Route Persuasion

A method of persuasion that relies on superficial cues rather than on the content of the message, such as the attractiveness of the speaker or emotional appeal.

Attributions

Attributions refer to the process by which individuals infer the causes of their own and others' behavior.