Answer:
Sunland Inc.
Adjusting Journal Entries:
Account Titles and Explanation Debit Credit
Interest Expense $1,152
Interest Payable $1,152
To record accrued interest for 8 months.
Rent Revenue $2,600
Deferred Revenue $2,600
To record deferred rent revenue for 2 months.
Supplies Expense $1,570
Supplies $1,570
To record supplies expense for the period.
Explanation:
a) Data and Calculations:
1. Interest Expense $1,152 Interest Payable $1,152 ( $28,800 * 6% * 8/12)
2. Rent Revenue $2,600 Deferred Revenue $2,600 ($7,800 * 2/6)
3. Supplies Expense $1,570 Supplies $1,570 ($2,110 - $540)
b) The above adjusting journal entries are made in order to reverse the earlier entries made. The purpose is to bring the accounts in line with the accrual concept and the matching principle of generally accepted accounting principles. These require that expenses and revenues for the period are matched and recognized whether or not cash is exchanged.
Answer:
The correct option is B: "The change in Accounts Receivable is a source; The change in Inventory is a use"
Explanation:
However, you will need to look at the asset section as well in order to determine the correct response to this question statement. Depending on how the accounts receivable and inventory changes, you will be able to ascertain which is a source and which is a use. For instance, if the balance in Accounts Receivable and the Inventory has increased, the change is a use. And vice versa.
Answer:
EXPLAINING STRESSFUL EVENTS BY ATTRIBUTING THEM TO A TEMPORARY SITUATION.
Explanation:
Attribution theory deals with how the social perceiver uses information to arrive at causal explanations for events. It examines what information is gathered and how it is combined to form a causal judgment.
Explanatory style is the characteristic, habitual way individuals explain the causes of good and bad events they experience.
Stressful events can either be good or bad. People may attribute stressful events to factors that are either temporary or permanent and specific or universal.
Carmela's thought means she is explaining her stressful work (event) by attributing it to a temporary situation since she thinks she will get the hang of it in a few months.
Therefore, an example of the explanatory style is EXPLAINING STRESSFUL EVENTS BY ATTRIBUTING THEM TO TEMPORARY EVENTS.
1,D u answered it 2,B 3,A 4,E 5,C
COBRA- Consolidated Omnibus Budget Reconciliation Act, is the name of the federal law that guarantees employees who have lost their jobs continuing access to health insurance.
<h3>What is Federal COBRA?</h3>
When your employment terminates or your hours are reduced, federal COBRA is a law that enables you to preserve your group health coverage. All insured employees, their spouses, ex-spouses, and dependent children must be provided with continuous coverage under federal COBRA. Employers and group health plans with 20 or more members are subject to the federal COBRA.
<h3>How does COBRA work?</h3>
Under certain conditions, including voluntary or involuntary job loss, a reduction in hours worked, a change in employment, death, divorce, and other life events, the COBRA allows employees and their families who lose their health benefits to choose to continue receiving group health benefits from their group health plan for a finite amount of time. The full price for coverage up to 102% of the plan's cost may be demanded of qualified persons.
To know more about Federal laws visit: brainly.com/question/29439408
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