Response:
As an individual, I find myself far from my ideal time distribution due to various factors outside my control. One must rely on their surrounding environment comprised of individuals nearby.
Sleep patterns and both mental and physical health play significant roles in time management. During periods of stress and overwhelming pressure, one may find themselves spending more time on sleep than necessary.
Response:
advertising expense 387 debit
prepaid expense 387 credit
--to document expired advertising at the year's end ---
Details:
1,548 represents the value over 36 months
From April to December 31, 9 months have elapsed thus:
1,548 x 9/36 = 387 expired advertising
We will reduce our prepaid account and record the advertising expense for the expired amount
The prepaid expense is classified as an asset since it grants us the right to receive advertising for our product and brand during the contract period. Therefore, we credit it to decrease it
while the expense will debit our equity
