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Ivanhoe Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022. 1. Purchased a 1-year insurance policy
Ivanhoe Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022. 1. Purchased a 1-year insurance policy on June 1 for $1.548 cash. 2. Paid $5,590 on August 31 for 5 months' rent in advance. 3. 4. 5. On September 4, received $3,096 cash in advance from a corporation to sponsor a game 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 $860 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,290 in advance from a gaming club. Determined that on December 31. $410 of these games had not yet been played. Prepd. 2022 Cash Insur. June 1 Aug. 31 Sept. 4 Nov. 30 Dec. 5 Assets Prepd. Prepd. Rent Clean. Liabilities Unearned Com. Serv. Rev. Stock Rev. Stockholders' Equity Retained Earnings Exp. Div
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