Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders' equity.
b. Dividends Payable

Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders' equity.
j. Office Supplies

Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders' equity.
e. Retained Earnings

Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders' equity.
g. Unearned Service Revenue

For each of the following accounts, identify in which section of the classified balance sheet it would be presented: current assets, property, intangibles, other assets, current liabilities, long-term liabilities, or stockholder’s equity.

B. Accounts Receivable

Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders' equity.
i. Land

The geological consulting firm of Gilbert, Marsh, & Kester prepares adjusting entries on a monthly basis. Among the items requiring adjustment on December 31, 2011, are the following:

1. The company has outstanding a $\$ 50,000,9$ percent, two-year note payable issued on July 1 , 2010. Payment of the $\$ 50,000$ note, plus all accrued interest for the two-year loan period, is due in full on June $30,2012$.
2. The firm is providing consulting services to Texas Oil Company at an agreed-upon rate of $\$ 1,000$ per day. At December 31,10 days of unbilled consulting services have been provided.
   a. Prepare the two adjusting entries required on December 31 to record the accrued interest expense and the accrued consulting revenue earned.

For each of the following accounts, identify in which section of the classified balance sheet it would be presented: current assets, property, intangibles, other assets, current liabilities, long-term liabilities, or stockholder’s equity.

A. Accounts Payable

The following accounts and normal balances existed at year-end. Make the four journal entries required to close the books:

Retained earnings              $22,000
Dividends                        6,000
Fees earned revenue             90,000
Selling expenses                45,000
Administrative expenses         16,000
Miscellaneous expense            2,300

Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data.

A. depreciation on fixed assets, $8,500

B. unexpired prepaid rent,$12,500

C. remaining balance of unearned revenue, $555

Notes receivable due in 390 days appear on the

a. income statement

b. balance sheet n the current liabilities section

c. balance sheet in the current assets section

d. balance sheet in the noncurrent assets section

The following information is taken from the records of Baklava Bakery for the year 2019.

Revenues: Jan.     $22,500
Gains: Feb.          1,200
Losses: Mar.         3,700
Expenses: Feb.      21,620
Gains: Jan.              0
Revenues: Mar.      42,800
Losses: Feb.         1,600
Expenses: Mar.      45,100
Losses: Jan.             0
Revenues: Feb.      37,550
Expenses: Jan.      20,760
Gains: Mar.          5,600

D. For each situation, comment on how a stakeholder might view the firm’s performance. (Hint: Think about the source of the income or loss.)

Jasper's unadjusted trial balance reports Unearned Client Revenue of $\$ 3,200$ and Client Revenue Earned of $\$ 29,000$. An examination of client records reveals that $\$ 2,800$ of previously unearned revenue has now been earned.
a. Prepare the necessary adjusting entry pertaining to these accounts.

On February 1, Watson Storage agreed to rent Hillbourne Manufacturing warehouse space for $\$ 175$ per month. Hillbourne Manufacturing paid the first three months' rent in advance.
a. Prepare the necessary adjusting entry for Hillbourne Manufacturing on February 28, assuming it recorded the expenditure on February 1 as Prepaid Rent.