Selected accounts of Piotroski Properties, a real estate management firm, are shown below as of January...

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\\ Selected accounts of Piotroski Properties, a real estate management firm, are shown below as of January 31,2010 , before any accounts have been adjusted.

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Piotroski Properties prepares monthly financial statements. Using the following information, adjust the accounts as necessary on January 31 using the financial statements effect template.
a. Prepaid insurance represents a three-year premium paid on January 1, 2010.
b. Supplies of \(\$ 850\) were still available on January 31.
c. Office equipment is expected to last eight years (or 96 months).
d. On January 1, 2010, Piotroski collected \(\$ 5,250\) for six months' rent in advance from a tenant renting space for \(\$ 875\) per month.
e. Salaries of \(\$ 490\) have been earned by employees but yet not recorded as of January 31.

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Financial Accounting For MBAs

ISBN: 9781934319345

4th Edition

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

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