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On October 1, 2018, Stokes Company paid Eastport Rentals $36,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related
On October 1, 2018, Stokes Company paid Eastport Rentals $36,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December 31, 2018, adjustment for Stokes Company in the accounting equation. b. Record the deferral and the related December 31, 2018, 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, 2018, adjustment for Stokes Company in the accounting equation. (Do not round intermediate calculations and round your final answer to nearest whole dollar. Enter any decreases to account balances with a minus sign.) STOKES COMPANY Accounting Equation - 2018 Assets = Liabilities + Stockholders' Equity Common Retained Stock Earnings Event Prepaid Cash Rent 36,000 = (36,000) | + Paid 12 months rent Adjustment for 3 months used + Required A Required B
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