The ledger of Sheridan Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit
Supplies $9,000
Prepaid Insurance 10,800
Equipment 75,000
Accumulated Depreciation
—Equipment $25,200
Notes Payable 60,000
Unearned Rent Revenue 37,200
Rent Revenue 180,000
Interest Expense 0
Salaries and Wages Expense 42,000
An analysis of the accounts shows the following.
1. The equipment depreciates $840 per month.
2. Half of the unearned rent revenue was earned during the quarter.
3. Interest of $1,200 is accrued on the notes payable.
4. Supplies on hand total $2,550.
5. Insurance expires at the rate of $1,200 per month.
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

5. understanding marginal and average tax rates consider the economy of citronia, where citizens consume only oranges. assume that oranges are priced at $1 each. the government has devised the following tax plans: plan a • consumption up to 1,000 oranges is taxed at 50%. • consumption higher than 1,000 oranges is taxed at 20%. plan b • consumption up to 2,000 oranges is taxed at 15%. • consumption higher than 2,000 oranges is taxed at 60%. use the plan a and plan b tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption levels of 300 oranges, 1,200 oranges, and 3,000 oranges, respectively. consumption level plan a plan b (quantity of oranges) marginal tax rate average tax rate marginal tax rate average tax rate (percent) (percent) (percent) (percent) 300 1,200 3,000 complete the following table by indicating whether each plan is a progressive tax system, a proportional tax system, or a regressive tax system. progressive proportional regressive plan a plan b