Tableau Dashboard Activity 4-1 (Static) Interpreting Adjustments [LO 4-1, LO 4-2, LO 4-6] Buy 'n Large Corporation (BLC) is a service company that has been in business for several years. It has completed its second month of operations in the current year, and has made all required month-end adjusting entries. The following Tableau dashboard allows you to select unadjusted and adjusted balances for balance sheet and income statement accounts below by using the dashboard filters. Income Statement. $6,000 Balance Sheet $5,500 $5,000 $4,500 $4,000 $3,500 Income Statement $6,000 $5,500 $5,000 $4,500 $4,000 $3,500 $3,000 $3,000 $2,500 $2,500 $2,000 $1,500 $1,000 $500 $0 $2,000 $1,500 $1,000 $500 $0 Unadjusted Adjusted Unadjusted Adjusted Prepaid Rent Rent Expense Required: 1. BLC pays for several months of rent in advance, and then adjusts the accounts at month-end to report the rent benefits that expired in that month. What amount of rent benefits expired in the current month? 2. BLC records the same amount of depreciation each month it uses its equipment. Using the appropriate dashboard filter, identify the account that will allow you to determine how many months has BLC used its equipment from the time it was first acquired until now. Using that account's balance, calculate the number of months the equipment has been used so far. 3. Some customers pay BLC several months in advance of receiving BLC's services, and then BLC adjusts its accounts each month- end for the services it provided to those customers during that month. Using the dashboard filters, select the accounts that would be adjusted when services are provided under these advance-payment contracts. Show the adjusting journal entry BLC made to these accounts at the end of the current month. 4. Using the dashboard filters, select the accounts that relate to advertising. Use the mouse-over function to gather the information you need to explain the reason for BLC's advertising adjustment. Which of the following is correct? 5. Using the dashboard filters, select the accounts that relate to income taxes. BLC is accruing the same amount each month for income taxes, based on estimates of how much BLC will owe for income taxes at the end of the year. What amount is BLC accruing each month and how much will it have accrued by the end of the entire year? Problem Required 1 Required 2 Required 3 Required 4 Required 5 Using the dashboard filters, select the accounts that relate to income taxes. BLC is accruing the same amount each month for income taxes, based on estimates of how much BLC will owe for income taxes at the end of the year. What amount is BLC accruing each month and how much will it have accrued by the end of the entire year? $500 and $1,000 O$500 and $6,000 O$1,000 and $12,000 None of the choices is correct. Problem Required 1 Required 2 Required 3 Required 4 Required 5 BLC records the same amount of depreciation each month it uses its equipment. Using the appropriate dashboard filter, identify the account that will allow you to determine how many months has BLC used its equipment from the time it was first acquired until now. Using that account's balance, calculate the number of months the equipment has been used so far. O25 months O24 months O2 months 1 month Problem Required 1 Required 2 Required 3 Required 4 Required 5 Some customers pay BLC several months in advance of receiving BLC's services, and then BLC adjusts its accounts each month-end for the services it provided to those customers during that month. Using the dashboard filters, select the accounts that would be adjusted when services are provided under these advance-payment contracts. Show the adjusting journal entry BLC made to these accounts at the end of the current month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal 1 A Deferred Revenue Service Revenue Debit Credit 1,000 1,000 Show less A Problem Required 1 Required 2 Required 3 Required 4 Required 5 Using the dashboard filters, select the accounts that relate to advertising. Use the mouse-over function to gather the information you need to explain the reason for BLC's advertising adjustment. Which of the following is correct? OBLC provided $300 of advertising services to its clients this month. OBLC provided $1,400 of advertising services to its clients this month for which it has not yet been paid. OBLC has now received $1,400 of advertising services that it has not yet paid. OBLC has now received $1,800 of advertising services for which it has paid only $1,500. Problem Required 1 Required 2 Required 3 Required 4 Required 5 Using the dashboard filters, select the accounts that relate to income taxes. BLC is accruing the same amount each month for income taxes, based on estimates of how much BLC will owe for income taxes at the end of the year. What amount is BLC accruing each month and how much will it have accrued by the end of the entire year? $500 and $1,000 $500 and $6,000 O$1,000 and $12,000 ONone of the choices is correct.