1. Purchased a 1-year insurance policy on June 1 for $ 2,100 cash. 2. Paid $ 6,900 on August 31 for 5 months' rent in advance. On September 4, received $ 3,600 cash in advance from a company to sponsor a game 3. each month for a total of 9 months for the most improved students at a local school. Signed a contract for cleaning services starting December 1 for $ 1,200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 4. On December 5, received $ 1,600 in advance from a gaming club. Determined that on December 31, $ 440 of these games had not yet been played. 5.
1. Purchased a 1-year insurance policy on June 1 for $ 2,100 cash. 2. Paid $ 6,900 on August 31 for 5 months' rent in advance. On September 4, received $ 3,600 cash in advance from a company to sponsor a game 3. each month for a total of 9 months for the most improved students at a local school. Signed a contract for cleaning services starting December 1 for $ 1,200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 4. On December 5, received $ 1,600 in advance from a gaming club. Determined that on December 31, $ 440 of these games had not yet been played. 5.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Prepaid Insurance
Prepaid Rent
Unearned Service Revenue
Prepaid Cleaning
Insurance Expense
Rent Expense
Service Revenue
Maintenance and Repairs Expense
Transcribed Image Text:1.
Purchased a 1-year insurance policy on June 1 for $ 2,100 cash.
2.
Paid $ 6,900 on August 31 for 5 months' rent in advance.
On September 4, received $ 3,600 cash in advance from a company to sponsor a game
3.
each month for a total of 9 months for the most improved students at a local school.
Signed a contract for cleaning services starting December 1 for $ 1,200 per month. Paid
for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record
4.
prepayments.)
On December 5, received $ 1,600 in advance from a gaming club. Determined that on
December 31, $ 440 of these games had not yet been played.
5.
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