QUESTION 4 On April 28, Carpenter Printing signed a 1 year rental contract for office space,...
QUESTION 4
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On April 28, Carpenter Printing signed a 1 year rental contract for office space, beginning May 1, and paid $9,553for 2 months’ rent in advance. On April 29, Carpenter Printing signed a 1 year insurance contract for a comprehensive insurance policy with coverage beginning May 1. The full amount, $792, of the annual insurance policy is paid on April 29.
Based on these transactions alone, what are the Total Prepaid Expenses on the Balance Sheet on May 31?
Homework Answers
| Total Prepaid Expenses on the Balance Sheet on May 31 | |
| Rent in Advanve ($9553/2 month) | $ 4,776.50 |
| Prepaid Insurance ($792/12*11) | $ 726.00 |
| $ 5,502.50 |
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QUESTION 4
On April 28, Carpenter Printing signed a 1 year rental contract
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