Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entry affect the accounting equation. Assume a December 31 closing date. The first event is recorded as an example. Do not round intermediate calculations & round your final answer to the nearest whole dollar.
a. Paid $6,600 cash in advance on October 1 for a one-year insurance policy.
b. Received a $5,400 cash advance for a contract to provide services in the future. The contract required a one-year commitment, starting April 1.
c. Purchased $2,100 of supplies on account. At year's end, $265 of supplies remained on-hand.
d. Paid $11,760 cash in advance on August 1 for a one-year lease on office space.

The Accounting Equation
Event/ Total Assets = Liabilities = Stockholders Equity
Adjustment
Cash + Other Assets Common Stock + Retained Earnings
a. (6,600)+ (6,600) = + +
a. Adj. + (1,650) = + + (1,650)
b. + = + +
b. Adj. + = + +
c + = + +
c. Adj. + = + +
d. + = + +
d. Adj. + = + +

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

142"what is the value of n? soefon11402bebe99918+19: 00esseeshop60-990 0esle