Match each situation below to two applicable reasons that require an adjustment to be made.
Answer to relevant QuestionsFor each of the following independent situations, prepare journal entries to record the initial trans-action on December 31 and the adjustment required on January 31. a. Magnificent Magazines received $ 12,000 on December ...Refer to M4- 14. Prepare a statement of retained earnings for the year. At December 31, the unadjusted trial balance of H& R Tacks reports Unearned Revenue of $ 5,000 and Service Revenues of $ 33,800. One- half of the unearned revenue has been earned as of December 31. Prepare the adjusting ...For each of the following transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at the end of the month on October 31: a. Collected $ 2,400 rent for the period October 1 ...Define restricted cash and indicate how it should be reported on the balance sheet.
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