1.

On December 1, 2013, an advance rent payment of $13,500, representing a three-month prepayment for the months of December, January, and February, was received in cash from the companys tenant.

Required:

Complete the below table.(Enter decreases to account balances with a minus sign.)

a. Use the horizontal model to create the effects of the following items:

The three months of rent collected in advance on December 1, 2013:

Balance Sheet:

Assets$___________ = Liabilities $_____________ + Stockholders Equity $_______________

Income Statement:

Net Income: $____________ = Revenue $____________ - Expenses: $_________________