Common law is a body of cases decided by legislatures
a. True
b. False
Indicate whether the statement is true or false
False
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Based on the unadjusted trial balance for Highlight Styling and the adjusting information given below, prepare the adjusting journal entries for Highlight Styling.Highlight Stylings' unadjusted trial balance for the current year follows:Highlight StylingTrial BalanceDecember 31Cash…………………………………………………. $ 2,200?Prepaid insurance …………………………………...1,680?Shop supplies .............................................................790?Shop equipment …………………………………….3,860?Accumulated depreciation-shop equipment ……….. ? $ 770Building……………………………………………...59,500?Accumulated depreciation-building………………..?3,840Land
………………….55,000?Unearned rent………………………………………..?2,600Long-term notes payable…………………………….?50,000Common stock ……………………………….?40,000Retained earnings ……………………………….?8,860Rent earned ………………………………………….?2,400Fees earned ………………………………………….?23,400Wages expense ……………………………………...3,200?Utilities expense ……………………………………690?Property taxes expense …………………………….600?Interest expense ……………………………………4,350________Totals ………………………………………………..$131,870 $131,870Additional information:a. An insurance policy examination showed $1,040 of expired insurance.b. An inventory count showed $210 of unused shop supplies still available.c. Depreciation expense on shop equipment, $350.d. Depreciation expense on the building, $2,020.e. A beautician is behind on space rental payments, and this $200 of accrued revenues was unrecorded at the time the trial balance was prepared.f. $800 of the Unearned Rent account balance was still unearned by year-end.g. The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded.i. One month's interest on the note payable, $600, has accrued but is unrecorded. What will be an ideal response?
Which of the following accounts would be found on the debit side of the adjusted trial balance?
A) Accumulated Depreciation-Equipment B) Common Stock C) Dividends D) Wages Payable
Technical support refers to the service desk's ability to resolve incidents at the service desk without escalation to another level of support.
Answer the following statement true (T) or false (F)
Which is a use of cash?
a. an increase in inventory b. a decrease in accounts receivable c. decrease in equipment d. an increase in accounts payable e. an increase in bonds payable