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On November 1, Year 2, Stokes Company paid Eastport Rentals $32,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the
On November 1, Year 2, Stokes Company paid Eastport Rentals $32,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. b. Record the deferral and the related December 31, Year 2, adjustment for Eastport Rentals in the accounting equation. Complete this question by entering your answers in the tabs below. Required A Required B Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. (Do not round termediate calculations and round your final answers to nearest whole dollar. Enter any decreases to cco balances with a minus sign.) STOKES COMPANY Accounting Equation - Year 2 Assets = Liabilities Stockholders' Equity Event Cash Prepaid Common Retained Rent Stock Earnings Paid 12 months rent Adjustment for 2 months used + + + + + Required A Required B > On November 1, Year 2, Stokes Company paid Eastport Rentals $32,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. b. Record the deferral and the related December 31, Year 2, adjustment for Eastport Rentals in the accounting equation. Complete this question by entering your answers in the tabs below. Required A Required B Record the deferral and the related December 31, Year 2, adjustment for Eastport Rentals in the accounting equation. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Enter any decreases to account balances with a minus sign.) EASTPORT RENTALS Accounting Equation - Year 2 Assets = Liabilities Stockholders' Equity Unearned Common Event Cash Retained Revenue Stock Earnings Received 12 months rent Earned 2 months rent + + + + (Required A Required B
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