The ledger of Sheridan Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit
Supplies $9,000
Prepaid Insurance 10,800
Equipment 75,000
Accumulated Depreciation
—Equipment $25,200
Notes Payable 60,000
Unearned Rent Revenue 37,200
Rent Revenue 180,000
Interest Expense 0
Salaries and Wages Expense 42,000
An analysis of the accounts shows the following.
1. The equipment depreciates $840 per month.
2. Half of the unearned rent revenue was earned during the quarter.
3. Interest of $1,200 is accrued on the notes payable.
4. Supplies on hand total $2,550.
5. Insurance expires at the rate of $1,200 per month.
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

Which of the following is an example of formal management controls? answers: a firm's culturethe willingness of employees to monitor each otherbudgeting and reporting activitiesmanagerial motivation

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?