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Which example BEST illustrates a subordinate-level concept?

Flip flop footwear, had annual revenues of $185,000, expenses of $103,700, and paid dividends of $18,000 during the current year. The retained earnings account before closing had a balance of $297,000. The ending retained earnings balance after closing is:

Segment Brands leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $800. Segment Brands collected the entire $6,400 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Segment Brands on December 31 would be:

On September 1, Johnson Company loaned $100,000, at 12% annual interest, to a customer. Interest and principal will be collected when the loan matures one year from the issue date. Assuming adjustments are only made at year-end, what is the adjusting entry for accruing interest that Johnson would need to make on December 31, the calendar year-end?

On November 1, Broome, Inc. signed a 120-day, 8% note payable, with a face value of $9,000. Broome made the appropriate year-end accrual. What is the journal entry as of March 1 to record the payment of the note assuming no reversing entry was made? (Use 360 days a year.)

On April 1, Albequerque, Inc. paid Penthouse Publishing Company $1,548 for 36-month subscriptions to several different magazines. Albequerque debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What adjusting entry should be made by Albequerque, Inc. for the adjustment on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustments had been made?

On September 1, Johnson Company loaned $100,000, at 12% annual interest, to a customer. Interest and principal will be collected when the loan matures one year from the issue date. Assuming adjustments are only made at year-end, what is the adjusting entry for accruing interest that Johnson would need to make on December 31, the calendar year-end?

It is obvious that an error occurred in the preparation and/or posting of closing entries if:

On April 1, Taos, Inc. paid Penthouse Publishing Company $1,548 for 36-month subscriptions to several different magazines. Taos debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Taos, Inc. after adjustments on December 31 of the second year assuming the company is using a calendar-year reporting period and the previous year adjustment had been made?

At the beginning of the year, Omega Company’s balance sheet reported Total Assets of $195,000; Total Liabilities of $15,000; and Total Paid-in capital of $60,000. During the year, the company reported total revenues of $226,000 and expenses of $175,000. Also, dividends during the year totaled $48,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: