No. Date Account Titles and Explanation Dec. 1. 31, 2022 Prepaid insurance Dec. 2. 31,...

70.2K

Verified Solution

Question

Accounting

image
image
No. Date Account Titles and Explanation Dec. 1. 31, 2022 Prepaid insurance Dec. 2. 31, 2022 Rent Expense Prepaid Rent Dec. 3. 31, 2022 Unearned Service Revenue Stubscription Revenue Dec. 4. 31, 2022 Maintenance and Repairs Expense Prepaid Cleaning Dec. 5. 31, 2022 Debit Unearned Service Revenue Subscription Revenue Credit eTextbook and Media Assistance Used Wildhorse Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31,2022. 1. Purchased a 1-year insurance policy on June 1 for $2,016cash. 2. Paid $7,280 on August 31 for 5 months' rent in advance. 3. On September 4 , received $4,032 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $1,120 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments) 5. On December 5 , received $1,680 in advance from a gaming club. Determined that on December 31,$540 of these games had not yet been played

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students