{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T12:04:48-04:00", "answer_date": "2024-05-29 12:04:48", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1883546", "url": "\/study-help\/questions\/consumer-research-associates-owned-by-gloria-johnson-is-retained-by-1883546", "question_creation_date_js": "2024-05-29T12:04:48-04:00", "question_creation_date": "May 29, 2024 12:04 PM", "meta_title": "[Solved] Consumer Research Associates, owned by Gl | SolutionInn", "meta_description": "Answer of - Consumer Research Associates, owned by Gloria Johnson, is retained by large companies to test consumer reaction to new | SolutionInn", "meta_keywords": "consumer,research,associates,owned,gloria,johnson,retained,large,companies,test,reaction,new", "question_title_h1": " Consumer Research Associates, owned by Gloria Johnson, is retained by large companies to test consumer reaction to new products On January 31, 20X1, the", "question_title": " Consumer Research Associates, owned by Gloria Johnson, is retained by large", "question_title_for_js_snippet": "Consumer Research Associates, owned by Gloria Johnson, is retained by large companies to test consumer reaction to new products On January 31, 20X1, the firm's worksheet showed the following adjustments data (a) supplies used, $2,310, (b) expired rent, $12,700 and (c) depreciation on office equipment, $4,550 The balances of the revenue and expense accounts listed in the Income Statement section of the worksheet and the drawing account listed in the Balance Sheet section of the worksheet are given below REVENUE AND EXPENSE ACCOUNTS 401 Fees income 511 Depr expense Office equipment 514 Rent expense 517 Salaries expense 520 Supplies expense 523 Telephone expense 526 Travel expense 529 Utilities expense DRAWING ACCOUNT $97,000 Cr 4,550 Dr 12,700 Dr 49,200 Dr 2,310 Dr 1,320 Dr 10,360 Dr 1,220 Dr 302 Gloria Johnson, Drawing 10,700 Dr Required 1 Record the adjusting entries in the general journal (transactions 1 3) 2 Record the closing entries in the general journal (transactions 4 7)", "question_description": "\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image", "transcribed_text": "Consumer Research Associates, owned by Gloria Johnson, is retained by large companies to test consumer reaction to new products On January 31, 20X1, the firm's worksheet showed the following adjustments data: (a) supplies used, $2,310, (b) expired rent, $12,700 and (c) depreciation on office equipment, $4,550. The balances of the revenue and expense accounts listed in the Income Statement section of the worksheet and the drawing account listed in the Balance Sheet section of the worksheet are given below REVENUE AND EXPENSE ACCOUNTS 401 Fees income 511 Depr. expense-Office equipment 514 Rent expense 517 Salaries expense 520 Supplies expense 523 Telephone expense 526 Travel expense 529 Utilities expense DRAWING ACCOUNT $97,000 Cr. 4,550 Dr. 12,700 Dr. 49,200 Dr. 2,310 Dr. 1,320 Dr. 10,360 Dr. 1,220 Dr. 302 Gloria Johnson, Drawing 10,700 Dr. Required: 1. Record the adjusting entries in the general journal (transactions 1-3) 2. Record the closing entries in the general journal (transactions 4-7)", "related_book": { "title": "Survey of Accounting", "isbn": "1285974360, 1285183487, 9781285974361, 978-1285183480", "edition": "7th edition", "authors": "Carl S. Warren", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/280.jpg", "uri": "\/textbooks\/survey-of-accounting-7th-edition-280", "see_more_uri": "" }, "free_related_book": { "isbn": "1702509958", "uri": "\/textbooks\/the-secret-investing-in-the-stock-market-1st-edition-978-1702509954-255708", "name": "The Secret Investing In The Stock Market", "edition": "1st Edition" }, "question_posted": "2024-05-29 12:04:48", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-kinetic-energy-of-an-electron-in-a-particular-bohr", "description": "The kinetic energy of an electron in a particular Bohr orbit of hydrogen is 1.35 10-19 J. (a) Which Bohr orbit does the electron occupy? 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