On march 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for potomac realty: • the supplies account balance on march 31 is $5,620, the supplies on hand on march 31 are $1,290. • the unearned rent account balance on march 31 is $5,000 representing the receipt of an advance payment on march 1 of four months’ rent from tenants. • wages accrued but not paid at march 31 are $2,290. • fees accrued but unbilled at march 31 are $16,825. • depreciation of office equipment is $4,600. required: 1. journalize the adjusting entries required at march 31. refer to the chart of accounts for exact wording of account titles. 2. what is the difference between adjusting entries and correcting entries?

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Which maxim is being neglected in the following conversation? eli: how did you do at the track meet? caleb: i came in second place! eli: congratulations! what was your time? caleb: six minutes, four seconds. the guy who won only beat me by three seconds. eli: really? katie said the winning time was under 6 minutes. caleb: oh, well, he might have beat me by five seconds. a)maxim of quantity b)maxim of quality c)maxim of relevance d)maxim of manner

Amajor advantage of case studies is