Prepare adjusting journal entries, as needed, for the following items. (a) the supplies account shows a beginning balance of $500. the company purchases an additional $3,500 of office supplies for cash but a count of supplies reveals only $700 on hand at year-end. (b) the company purchases 12 months of insurance on july 1st for $24,000 by debiting prepaid insurance. it is now december 31st and 6 months of insurance has been used. record the necessary adjusting entry as of december 31st. (c) a company borrows $20,000 with 8% interest on october 1st, 2010. this amount plus interest is due on march 31st, 2011. record the adjusting entry on december 31, 2010. (d) at year-end, the company received a utility bill for december's electricity usage of $200 that will be paid in early january. (e) a company purchases new equipment for $24,000 cash on january 1st, 2010. the equipment is expected to have a $6,000 salvage at the end of it's 4 year useful life. record the adjusting entry for depreciation using straight-line as of december 31st, 2010

When slick heating company switched to an activity based costing system, it realized that it was allocating a much lower percentage of factory overhead to a product line that the marketing department was trying to push. the product line may contain which type of products?

In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.