Becky has just been hired as a case manager for the department of children’s services. during her first two weeks of work, becky has felt overwhelmed and has been behind in her paperwork. she is surprised by the large number of clients that she has been assigned, and is not able to complete all of the necessary forms for each client without taking some of her work home with her. becky is frustrated, and her supervisor, louis, recognizes her frustration. louis asks becky to come to his office for a meeting, and becky is able to describe her frustrations to louis. because louis has been working for the agency for 15 years, he immediately recognizes the source of becky’s frustration, and reassures her that all she needs is a time-management system. in developing an effective time management system for becky, louis might suggest which of the following as a first step?

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Explain how can you avoid conflict by adjusting

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?