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ACCT/382 ACCT382 ACCT 382 Week 2 Chapter 2 Homework Question 7

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ACCT 382 Week 2 Chapter 2 Homework Question 7 There may be chances that the figures given in our question and your question doesn’t matches. Don’t worry, we are here to help you. Just write to us at studentwhiz@gmail.com and your answer is with you in no time. Question 7 The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2013, trial balances contained the following account information: Nov. 30 Dec. 31 Dr. Cr. Dr. Cr. Supplies 1,500 3,000 Prepaid insurance 6,000 4,500 Wages payable 10,000 15,000 Unearned rent revenue 2,000 1,000 The following information also is known: a. The December income statement reported $2,000 in supplies expense. b. No insurance payments were made in December. c. $10,000 was paid to employees during December for wages. d. On November 1, 2013, a tenant paid Righter $3,000 in advance rent for the period November through January. Unearned rent revenue was credited.

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