M4-4 Recording Adjusting Journal Entries [LO 4-2]
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1.
Supplies for office use were purchased during the year for $860, of which $280 remained on hand (unused) at year-end.
2.
Interest of $430 on a note receivable was earned at year-end, although collection of the interest is not due until the following year.
3.
At year-end, salaries and wages payable of $5,400 had not been recorded or paid.
4.
At year-end, one-half of a $3,800 advertising project had been completed for a client, but nothing had been billed or collected.
5. Redeemed a gift card for $780 of services.

M4-6 Recording Adjusting Journal Entries [LO 4-2]
For each of the following transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

a.
Collected $3,450 rent for the period October 1 to December 31, which was credited to Unearned Revenue on October 1.
b.
Paid $2,040 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount.
c.
Used a machine purchased on October 1 for $52,200. The company estimates annual depreciation of $5,220.

M4-8 Recording Adjusting Journal Entries [LO 4-2]

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya. jan. 3purchased on account 350 widgets for $11 each. b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c. jan. 10purchased on account 625 widgets for $12 each. d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company. e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered. f.jan. 13paid for the purchases made on jan. 3.g. jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h. jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition. i.jan. 25received payment for the sale made on jan. 5.j. jan. 26paid for the purchases made on jan. 10.k. jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."

Lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal.

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.